Covenants and third-party creditors : empirical and law & economics insights into a common pool problem /: empirical and law & economics insights into a common pool problem. ([2017])

• Record Type: Book
• Further Information: Note: Daniela Matri.
• Other Names: Matri, Daniela
• Contents: Part I -- Theoretical Framework and Development of Research Question: 1 Introduction -- Covenants and Third-party Creditors -- 2 Self-help Devices of Creditor Protection -- 3 Covenants and Bilateral Creditor Protection -- Part II -- The Systematisation of Third-party Creditor Effects of Covenants: Preliminary Framework: 4 Academic Discussion and the Relevance of Third-party Creditor Protection -- 5 Potential Externalities of the Bilateral Governance System -- 6 The Self-interested Behaviour of Banks and Its Legal Limits -- Part III -- Empirical Research: Results and Re-evaluation of Preliminary Theory: 7 Design and Methodology -- 8 Results -- Covenants as a Reciprocal Private Governance Creditor Protection System -- 9 Re-evaluation − Collectivisation of Creditor Protection Through Private Governance -- 10 Consequences for Legal Discussion -- Part IV -- Summary and Outlook: 11 Summary -- 12 Outlook. ""Acknowledgements""; ""Contents""; ""List of Abbreviations""; ""List of Figures""; ""List of Tables""; ""Part I: Theoretical Framework and Development of Research Question""; ""Chapter 1: Introduction: Covenants and Third-Party Creditors""; ""1.1 Covenants and Creditor Protection""; ""1.2 Relevance of Third-Party Creditor Protection""; ""References""; ""Chapter 2: Self-Help Devices of Creditor Protection""; ""2.1 Credit Risk""; ""2.1.1 Risk of False or Lacking Information""; ""2.1.2 Risk of Bankruptcy""; ""2.1.3 Risk of Loss""; ""2.1.4 Corporate Groups as a Special Case"" ""2.2 Mechanisms of Creditor Protection""""2.2.1 Proprietary Devices""; ""2.2.2 Covenants and Other Contractual Devices""; ""2.2.2.1 Other Contractual Devices""; ""2.2.2.2 Covenants""; ""2.2.2.3 Mechanisms Suitable for Specific Creditor Types""; ""2.2.2.3.1 Institutional Lenders""; ""2.2.2.3.2 Bondholders""; ""2.2.2.3.3 Trade Creditors""; ""2.2.2.3.4 Customers""; ""2.2.2.3.5 Employees""; ""2.2.2.3.6 Tort Creditors""; ""References""; ""Chapter 3: Covenants and Bilateral Creditor Protection""; ""3.1 Protection Against the Risk of False or Lacking Information"" ""3.2 Protection Against the Risk of Bankruptcy""""3.2.1 Financial Covenants""; ""3.2.1.1 Framework of Financial Covenants""; ""3.2.1.1.1 Setting of Financial Covenants""; ""3.2.1.1.2 Inclusion of Subsidiaries""; ""3.2.1.1.3 Compliance with Financial Covenants""; ""3.2.1.2 Interest Coverage Ratio Covenant""; ""3.2.1.3 Leverage Ratio Covenant""; ""3.2.1.4 Tangible Net Worth Covenant""; ""3.2.1.5 Gearing Covenant""; ""3.2.1.6 Current Ratio Covenant""; ""3.2.2 Negative Covenants""; ""3.2.2.1 No Disposal Clause""; ""3.2.2.2 No Merger Clause""; ""3.2.2.3 No Change of Business/Management Clause"" ""3.2.2.4 Other Negative Covenants""""3.3 Protection Against the Risk of Loss""; ""3.3.1 Affirmative Covenants""; ""3.3.2 Negative Covenants""; ""3.3.2.1 Negative Pledge Clause""; ""3.3.2.2 CAPEX Covenant""; ""3.3.2.3 Dividend Restrictions Clause""; ""3.3.3 Financial Covenants as Supplements""; ""3.4 Clauses That Ensure the Enforcement of Covenants""; ""3.4.1 Information Undertakings""; ""3.4.2 Pari Passu Clause""; ""3.4.3 Event of Default Clause""; ""3.4.4 Cross-Default Clause""; ""3.4.5 MAC Clause""; ""3.4.6 Performance Pricing Clause"" ""3.5 Creating a Bilateral Private Governance System""""References""; ""Part II: The Systematisation of Third-Party Creditor Effects of Covenants: Preliminary Framework""; ""Chapter 4: Academic Discussion and the Relevance of Third-Party Creditor Protection""; ""4.1 Covenants Creating a Bilateral Private Governance System with Externalities""; ""4.1.1 The Law and Economics Term of Externalities""; ""4.1.2 Covenants and Externalities""; ""4.2 The Relevance of Externalities""; ""4.2.1 Covenants as an Alternative to Institutional Creditor Protection""; ""4.2.1.1 Company Law""
• Publisher Details: Cham, Switzerland : Springer
• Publication Date: 2017
• Extent: 1 online resource
• Subjects: 332.7/5; Law; Bankruptcy; Debtor and creditor; Covenants not to compete; BUSINESS & ECONOMICS -- Finance; Bankruptcy; Covenants not to compete; Debtor and creditor; Business & Economics -- Corporate Finance; Law -- International; Law -- Commercial -- General; Corporate finance; International economic & trade law; Commercial law; Law and economics; Commercial law; International law; Electronic books
• Languages: English
• ISBNs: 9783319620367; 3319620363
• Related ISBNs: 9783319620350; 3319620355
• Notes: Note: Includes bibliographical references.
• Access Rights: Legal Deposit; Only available on premises controlled by the deposit library and to one user at any one time; The Legal Deposit Libraries (Non-Print Works) Regulations (UK).
• Access Usage: Restricted: Printing from this resource is governed by The Legal Deposit Libraries (Non-Print Works) Regulations (UK) and UK copyright law currently in force.