The Reform of European Legal Capital Rules
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Given current turmoil in the global financial markets a sound and properly functioning capital maintenance system for companies whose shareholders benefit from limited liability is of paramount importance. Capital maintenance rules deal with topics such as minimum capital requirements, restrictions to pay dividends, financial assistance, etc. The overall goal is to provide companies with adequate financial resources. However, especially in times when increased attention is drawn to the topics covered by capital maintenance, consideration needs to be given to what the law can do and what it is neither able nor even intended to do. The aim of this publication is to contribute to the discussion if, respectively how, current capital maintenance rules should be amended in order to achieve a more efficient system. In doing so it compares the ideas and comments of numerous international authors.