Shareholder liability for undercapitalization
Subtitle: from a shareholder responsibility and creditor protection perspective.
Published: 2004
Language: eng
Number of pages: 73
Subjects: University of Toronto. -- Faculty of Law -- Dissertations.; Stockholders -- Legal status, laws, etc. -- North America.; Stockholders -- Legal status, laws, etc. -- Germany.; Debtor and creditor -- North America.; Debtor and creditor -- Germany.
Description: This thesis deals with the question whether shareholders should be held liable for creditor default due to undercapitalization. Different approaches have been adopted in North America and Germany. I will introduce both approaches and develop a solution according to which shareholders should be held liable as a general proposition. This general proposition is limited by distinguishing between voluntary and involuntary creditors as well as responsible and non-responsible shareholders. In my paper I will set out more detailed some criteria required to hold shareholders liable for the undercapitalization and I will consider the practical concerns resulting from my approach, i.e. uncertainty arising from the process of determination of undercapitalization.
Notes: Thesis (LL.M.)--University of Toronto, 2004.

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Source: Masters Abstracts International, Volume: 43-03, page: 0726.

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