Die Patronatserklärung

Jens Koch examines the many forms the letter of comfort can take and puts them in a systematic order. During the past decades, the letter of comfort has established itself as a widespread alternative for the formulation of agreements to the traditional forms of credit collateral. Since however this has not been regulated by law and the terminological boundaries of the letter of comfort are not clearly outlined, its dogmatic acceptance has not been able to keep up with the extent to which it is practised. The classification of the letter of comfort under the law still creates a large number of doubts. As a result of the reform of the law of obligations and the reorganization of insolvency law, the need to clarify this has increased additionally.