What Can Restructuring Laws Do? Geopolitical Shocks, the New German Restructuring Regime, and the Limits of Restructuring Laws
نویسندگان
چکیده
Abstract In this article, I discuss the possibilities and limitations of restructuring laws against background geopolitical shocks such as Covid-19 pandemic current energy crisis. make two claims, one narrow focused on German bankruptcy law, broad with a cross-jurisdictional reach. My claim relates to ‘StaRUG’, new regime. argue that law is superfluous flawed instrument. It should be repealed. second much broader. laws, including are generally ill-suited deal economic consequences or macroeconomic ‘first line defence’. Bankruptcy not designed provide structural assistance at scale which businesses affected by these need. At same time, massive state aid for distressed in times crisis and, particular, ad hoc bailouts large critical firms also problematic. propose firms’ resilience strengthened, best practices (‘Principles’) developed.
منابع مشابه
The global food regime : crisis and restructuring
It is well known that capitalist development depends on free wage labor and previously accumulated capital, as Marx (1967/1867, p. 166) claimed “the owner of money must meet in the market with the free labourer”. This claim, of course, implicitly assumes sufficient supply relatively affordable food for the proletariat in the capitalist sector, as both industrialization and urbanization greatly ...
متن کاملRestructuring the Eurozone
This paper suggests that there should be a realignment of the current Eurozone. There has been research to argue that the Eurozone does not fit the Optimum Currency Area (OCA) criteria. This might be a contributing factor to the current economic crisis in Europe. I propose, based on results from k-means data clustering, that the Eurozone be divided into three separate regions under the European...
متن کاملSchumpeterian Restructuring
We develop a theory of cyclical unemployment, which relates the processes of job creation and job destruction over the business cycle, to the processes of restructuring, innovation and implementation arising from a model of endogenous cyclical growth. Due to a moral hazard problem, production workers are paid efficiency wages and experience involuntary unemployment. The model captures two key c...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: European Business Organization Law Review
سال: 2023
ISSN: ['1741-6205', '1566-7529']
DOI: https://doi.org/10.1007/s40804-023-00271-9