| Abstract [eng] |
Capital maintenance is understood as a mechanism of protection of creditors' interests from unfair actions of members of the legal entity or as a general prohibition to distribute the company's capital and/or investments of creditors. The subject-matter of the research – substantive legal elements of the institute of capital maintenance in private limited liability companies, which are regulated by the rules of company law. The scope of this research also covers some alternative mechanisms of protection of the interests of creditors. This research is the first in Lithuania to provide a thorough analysis of the maintenance of company capital. It has to be admitted that capital maintenance, as (in)effective safeguard of creditors' rights, has not been studied in general in the doctrine of the Lithuanian company law. There are only scarce fragmented mentions of capital maintenance in scientific works designated for other topics of company law available in the Lithuanian legal doctrine. This scientific research also has valuable practical significance. Whereas not only scientific research but also more extensive published practical guidelines on corporate capital maintenance are unavailable in Lithuania, the legal community lacks general understanding of capital maintenance as a phenomenon and is unaware of its primary goals in general. Thus, the national and foreign doctrine, legislative frameworks and the case-law on corporate capital maintenance analysed during this research will create proper basis for practical recommendations to the Lithuanian legislator in order to simplify and increase the effectiveness of company capital in the field of protection of creditors' rights. |
