US EditionThe De Facto Leader in the Law of Companies in Difficulty: Normative Convergence with the Rule of Law
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Sector30/AdobeStock The de facto manager is a concept built in opposition to that of the legal officer, the legal representative of the company. However, this distinction based on the formal designation alone appears largely illusory, since the law of firms in difficulty tends to approximate the two figures with regard to the sanctions that may be applied to them and the obligations to which they are subject. 1. In the context of the law of firm…
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