[PDF] Changes In Corporate Reorganization Law Effected By The Chandler Act eBook

Author : Richard Hirshberg
Publisher :
Page : 0 pages
File Size : 48,14 MB
Release : 1940
Category : Consolidation and merger of corporations
ISBN :

GET BOOK

When people invest in a corporation, they assume a risk, just as they do when they put their money into an individual enterprise or partnership. There is always the chance that the business will fail instead of yielding to the investors the gains they had hoped for. Basically, two different kinds of failure may be distinguished. An enterprise may be considered a failure in the economic sense if its income is not sufficient to give the investors the profit they could reasonably have expected at the time of investment. Failure in the ordinary business sense, on the other hand, means inability of the enterprise to pay its debts. It is this sort of failure which (in the case of the corporation) calls for reorganization.

Author : Sarah Paterson
Publisher : Oxford University Press
Page : 304 pages
File Size : 12,65 MB
Release : 2020-10-23
Category : Law
ISBN : 0192604201

GET BOOK

Corporate Reorganisation Law argues that corporate reorganisation law is seen by market participants as a tool they can mobilise and adapt according to practices, logics, and identities in the of the financial and non-financial corporate markets. Thus changes in market practice, in the participants in the process, or in how the participants view their objectives, can significantly change the ways in which corporate reorganisation law is mobilised and adapted, even if the law has not undergone any reform. This book argues that corporate reorganisation law cannot be evaluated using a theoretical model in isolation from the wider institutional context in which corporate reorganisation law is mobilised and adapted by the participants to the process. In establishing the new methodology, the book undertakes a detailed analysis of six key changes in market practice, logic and identities in the financial and non-financial corporate fields. A comparative US/UK approach is adopted in analysing both the process of institutional change and the implications for law. This provides a fascinating lens through which to see how different institutional environments in the financial and non-financial markets in different jurisdictions are drawing together, and interacting with very different legal systems which were adapted to the distinct, original institutional environments in which they were developed. From this analysis important lessons for legal harmonisation efforts in Europe and in non-European jurisdictions are drawn out. The work emphasises the need to look at formal legal rules in combination with other, non-legal and legal institutions and argues that current reform debates in both the US and UK have suffered because scholars, practitioners, and policy makers have not started their evaluation of the case for reform by placing corporate reorganisation law in this wider institutional context. The book aims to fill this gap, and to provide a methodological approach for the future.