Melina Maren Grauschopf
Das Haftungssystem des Umwandlungsgesetzes bei Carve-out-Transaktionen
[The Liability Regime of the German Transformation Act in the Context of Carve-Out Transactions.]
2025. 352 pages. Price for libraries
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Summary
Carve-out transactions structured as spin-offs under the German Transformation Act are gaining strategic importance but are subject to a complex liability regime that may significantly constrain their practical use. Melina Maren Grauschopf examines the extent to which this framework affects the suitability of spin-offs as structuring tools, explores ways to mitigate the resulting burdens, and proposes reforms aimed at balancing creditor protection with the interests of carve-out participants and the need for transactional flexibility.