The so-called equitable subordination doctrine is the tool (mold equitable, in fact) used by the U.S. bankruptcy courts to downgrade the status of the debt claimed by insiders (the majority shareholders, the parent company, managers) against the company under bankruptcy proceedings. The tool produces the result of eliminating the effects of outsourcing from an unjustified risk of enterprise, operated by the majority shareholder to the detriment of creditors, "" external "" to the company and it works, more or less, according to the same technique (involuntary subordination) used by our legislature in Articles. 2467 and 2497-d dc
La c.d. equitable subordination doctrine è lo strumento (di stampo equitativo, appunto) utilizzato dalle corti fallimentari statunitensi per retrocedere il rango del credito vantato dagli insiders (soci di maggioranza, società controllante, managers) nei confronti della società sottoposta a procedura concorsuale. Lo strumento produce il risultato di eliminare gli effetti derivanti dall'ingiusta esternalizzazione del rischio di impresa, operato dal socio di maggioranza a danno dei creditori "esterni" all'impresa e funziona, grosso modo, secondo la stessa tecnica (postergazione involontaria) utilizzata dal nostro legislatore negli artt. 2467 e 2497-quinquies c.c.
La subordinazione "equitativa" (Equitable Subordination) / Vattermoli, Daniele. - In: RIVISTA DELLE SOCIETÀ. - ISSN 0035-6018. - 1:(2009), pp. 1390-1418.
La subordinazione "equitativa" (Equitable Subordination)
VATTERMOLI, Daniele
2009
Abstract
The so-called equitable subordination doctrine is the tool (mold equitable, in fact) used by the U.S. bankruptcy courts to downgrade the status of the debt claimed by insiders (the majority shareholders, the parent company, managers) against the company under bankruptcy proceedings. The tool produces the result of eliminating the effects of outsourcing from an unjustified risk of enterprise, operated by the majority shareholder to the detriment of creditors, "" external "" to the company and it works, more or less, according to the same technique (involuntary subordination) used by our legislature in Articles. 2467 and 2497-d dcI documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.