Zum Beitrag von Insolvenzeröffnungsgründen und Financial Covenants zum Gläubigerschutz : Eine empirische Analyse ihrer Warnfunktion und ihres Einflusses auf den Wert der Ansprüche von Fremd- und Eigen

»On the Contribution of Reasons to Open Insolvency Proceedings and Financial Covenants to Creditor Protection«The need to protect creditors arises from their legal position deviating from that of investors. Therefore the discussion of possibilities to protect creditors against the default of borrowers is inseparably linked to lending. Louis-Philipp Schulte examines the statutory creditor protection instrument of reasons to open insolvency proceedings as well as the private-law creditor protection instrument of financial covenants empirically, especially regarding their influence on the value of claims of creditors and investors as well as the warning function of the creditor protection instruments.