Search results for "CREDITO"
showing 10 items of 157 documents
Opening the Door for the Opportunistic Use of Interim Financing: A Critical Assessment of the EU Draft Directive on Preventive Restructuring Framewor…
2018
The draft of the EU Directive on Preventive Restructuring Frameworks and Second Chance (the "Directive") provides rules for adopting reorganisation plans in order to avoid insolvency. The draft Directive also provides rules on the related problem of interim financing. According to the draft Directive, interim financing should be encouraged and not be made subject to clawback unless parties have committed fraud or acted in bad faith. The Directive thereby fails to recognise that finance transactions are too diverse in nature to provide the company and its financial creditors with a transaction avoidance free period. If the Directive is adopted in its current form, it will open the door for o…
Corporate Distress and Restructuring with Macroeconomic Fluctuations: The Cases of GM and Ford
2011
Traditional methods for evaluating corporate credit risk rarely consider the impact of the macro economy on corporate value and performance. We argue that lenders and management can obtain valuable information about the need for and approach to restructuring by decomposing default predictions into intrinsic and macroeconomic factors. We apply a method previously used for measuring macroeconomic exposures on default predictions in order to filter out macroeconomic factors. In this paper the method is applied on an analysis of the Z-scores for GM and Ford for the period 1996-2005. The macro-economy has affected the two firms in different ways with implications for managements and creditors ap…
Gli obblighi di comportamento degli operatori finanziari nei contratti di credito ai consumatori relativi a beni immobili residenziali
Roles Of Stakeholders In Strategic Decision-Making Of Microfinance Organizations
2010
Microfinance organizations provide financial services to low income people. These organizations have been increasing dramatically worldwide. This increment calls attention for these organizations and their boards to make strategic decisions which enable them perform well and compete with each other. Based on literature, this paper identifies six types of microfinance stakeholders who sit on boards. These are clients, employees, government, donors, creditors and owners. This paper discusses the different roles of these stakeholders when they sit on boards of microfinance organizations and these roles are further explained to show how they contribute to the process of making strategic decisio…
Sovereign Debt Litigation in Argentina: Implications of the Pari Passu Default
2015
On 31 July 2014, Argentina defaulted on its sovereign bonds for the second time in the 21st century. It was also its eighth default since independence1; at such frequency, this was perhaps not an especially noteworthy event. What made it so extraordinary was not that another domestic financial crisis triggered the payment default, but rather an injunction handed down by a federal district court in New York. However, despite public outrage, the wider impact of this decision is likely to be limited. That is even more so if reforms that have already started continue to be implemented. The case dates back to Christmas Eve 2001, when the interim Saa administration declared a payment suspension o…
Rents instead of Land. Credit and Peasant Indebtedness in Late Medieval Mediterranean Iberia: the Kingdom of Valencia
2021
AbstractThe literature on the rural economy of the high and late Middle Ages has long established a close correlation between three significant features of the period: the spread of rural credit, the dynamism of the peasant land market and the expropriation of peasant land by the creditors, usually yeomen or urban landowners. There has even been talk for some countries (northern Italy) of a deliberate strategy of territorial conquest, insofar as the credit provided by urban lenders would aim at the expropriation of land from insolvent debtors. This article studies for the Mediterranean Spain of the late Middle Ages, and in particular for the old kingdom of Valencia, other objectives of rura…
A Synthetic View of Different Concepts of Creditor Protection - Or a High-Level Framework for Corporate Creditor Protection
2006
Protection of corporate creditors has become an important topic within the European Union. At EU level, discussion has been sparked by widespread dissatisfaction with some very rigid and cumbersome provisions, and even with the whole concept of the Second Company Law Directive. At EU Member State level, three landmark decisions by the European Court of Justice — Centros, Uberseering, and Inspire Art — opened the way for an all-out competition between the different company forms provided for by national company laws. At both levels, albeit for different reasons, British company law — and in particular the absence of any legal capital in the private limited company — acts as the main driving …
La fisionomia del testamento tra volontà negativa e traduzione in regola successoria
2020
Sullo sfondo del rapporto tra la libertà testamentaria e le sue costrizioni, il saggio ricerca un nuovo punto di equilibrio tra la volontà ablativa del testatore, che ha rivitalizzato la riflessione scientifica sul contenuto negativo del testamento e, segnatamente, sulla clausola meramente diseredativa, e l’effettiva possibilità di tradurre in regola successoria una volontà testamentaria esplicita o implicita che sia stata ragione di frode per i creditori del legittimario leso o pretermesso.
La tutela dei creditori personali del legittimario leso o pretermesso
2019
Nelle prassi successorie non è infrequente il ricorso alla frode per via testamentaria, rivolta a colpire i creditori personali del legittimario leso o pretermesso, i quali non godono nel nostro codice civile di un’apposita tutela ad essi esplicitamente rivolta. L'Autore si interroga sulla possibilità di reperire comunque nelle pieghe dell’ordinamento rimedi a tal fine utilizzabili, giungendo infine ad una proposta di riformulazione dell'art. 524 c.c. SOMMARIO: 1. Il problema. – 2. La giurisprudenza. – 3. La dottrina. – 4. Considerazioni di metodo. – 5. Un’ipotesi ricostruttiva. – 6. Proposte de iure condendo.
Ancora sulla tutela dei creditori personali del legittimario leso o pretermesso
2020
SOMMARIO: 1. Premessa. – 2. La sentenza della Corte di Cassazione 20 giugno 2019, n. 16623. – 3. La dottrina più recente. – 4. Conclusioni e proposte de iure condendo.