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Involuntary creditors and the case for accounting-based distribution regulation

Kershaw, David (2009) Involuntary creditors and the case for accounting-based distribution regulation. Journal of Business Law (2). pp. 140-165. ISSN 0021-9460

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Abstract

Appraises two arguments for the reform of regulation restricting company distributions to shareholders, namely: (1) that in the absence of a minimum capitalisation requirement for companies there could be very little capital for the regulations to protect in any event; and (2) that the regulations cause minor changes to accounting practices to disproportionately affect a company's ability to make a distribution and therefore may distort capital markets. Identifies two ways in which involuntary creditors are protected by the regulations, and considers whether such protection could be provided by other means.

Item Type: Article
Official URL: http://www.sweetandmaxwell.co.uk/Catalogue/Product...
Additional Information: © 2009 Sweet & Maxwell and its Contributors
Library of Congress subject classification: K Law > K Law (General)
Sets: Departments > Law
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 17 Apr 2009 13:08
URL: http://eprints.lse.ac.uk/23658/

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