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Groups of Companies in Insolvency: A German Perspective
Author(s) -
Siemon Klaus,
Frind Frank
Publication year - 2013
Publication title -
international insolvency review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.125
H-Index - 7
eISSN - 1099-1107
pISSN - 1180-0518
DOI - 10.1002/iir.1207
Subject(s) - insolvency , consolidation (business) , subsidiary , german , jurisdiction , business , domino , perspective (graphical) , domino effect , accounting , law and economics , finance , economics , law , computer science , political science , biochemistry , chemistry , archaeology , artificial intelligence , multinational corporation , history , catalysis
Based on an analysis concerning the disadvantages of the previous understanding of handling groups of companies by means of consolidation of jurisdiction, the following article illustrates the basic idea of group‐specialized proceedings ( konzernspezifisches Sachwalterverfahren ), avoiding ‘domino effects’ and thereby unnecessary insolvencies of profitable subsidiaries and preserving the assets of these parts of the group to a greater extent than an insolvency situation can. Copyright © 2013 INSOL International and John Wiley & Sons, Ltd