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Wider die Verschleuderung von Unternehmen durch Pfandversteigerung

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  • Schütze, Daniel

Abstract

Pledges on shares and stocks are common as securities for loans. New are the attempts by pledgees to sell pledges in public auctions. The questions regarding the requirements for such public auctions have not been answered either by Ge rman court decisions or literature. This fact helps the pledgees to buy the former pledges in public auctions themselves at a price much lower than their fair market value. This makes it necessary in the interests of the pledgor to show which formal requirements the law provides for public auctions. These formal requirements should prohibit pledges from being sold for less than their fair market value.

Suggested Citation

  • Schütze, Daniel, 2004. "Wider die Verschleuderung von Unternehmen durch Pfandversteigerung," Frankfurt School - Working Paper Series 51, Frankfurt School of Finance and Management.
    • Handle: RePEc:zbw:fsfmwp:51
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    More about this item

    Keywords

    auction; auction of equity participation; auction of the pledge; public auction of the pledge; public auction by a notary; public notice; examination of the pledge; data room; formal rules of a public auction;
    All these keywords.

    JEL classification:

    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • K19 - Law and Economics - - Basic Areas of Law - - - Other
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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