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International Corporate Rescue

Journal Issues

  • Vol 1 (2004)
  • Vol 2 (2005)
  • Vol 3 (2006)
  • Vol 4 (2007)
  • Vol 5 (2008)
  • Vol 6 (2009)
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  • Vol 14 (2017)
  •         Issue 1
  •         Issue 2
  •         Issue 3
  •         Issue 4
  •         Issue 5
  •         Issue 6
  • Vol 15 (2018)
  • Vol 16 (2019)
  • Vol 17 (2020)
  • Vol 18 (2021)
  • Vol 19 (2022)
  • Vol 20 (2023)
  • Vol 21 (2024)
  • Vol 22 (2025)

Vol 14 (2017) - Issue 6

Article preview

Preventive Restructuring Frameworks: A 'Comedy of Errors' or 'All’s Well That Ends Well'?

Professor Reinhard Bork, Chair of Civil and General Procedure Law, University of Hamburg, Germany

I. Introduction: three stage plays
In his very first and also shortest stage play, 'The Comedy of Errors', which had its premiere in 1594 in the barristers’ society of Gray’s Inn in London, William Shakespeare tells the story of two pairs of twin brothers, one pair being the sons of a rich merchant and the other pair being their servants. Both sets of twins had been separated from each other very early in their lives, with one master brother being served by one servant brother. One master-servant set lives in Ephesus, the other in Syracuse. The Syracusans come to Ephesus and confusion ensues. During the play, property, marriages and lives are at stake, yet it all ends well. The deus ex machina comes in the form of an abbess, in whose priory the Syracusan twin brothers have taken shelter and who finally solves the riddle.
Ten or twenty years later – the precise date of its origin is uncertain – Shakespeare wrote 'All’s Well That Ends Well'. The story manages to be both completely incredible and quite tragic. Helena loves the seemingly unlovable Bertram, who wants to escape her affections by enlisting in the army of the King of France. The King is ill and Helena, who follows Bertram, cures him. In return, the King forces Bertram to marry Helena. Bertram goes along with this but leaves for Italy immediately after the ceremony. He says that he will only live as Helena’s husband when she has borne his child and wears his family ring. In Florence, Bertram tries to seduce Diana, who questions his motives and requests his ring in exchange for her virginity. Bertram agrees but is tricked by Diana and Helena: Helena takes Diana’s place in her bed, while Bertram is completely oblivious to this trickery. Thus, Helena receives the ring and becomes pregnant. After several confusing events, which we can skip over here, Bertram is impressed by Helena’s efforts to comply with his conditions and finally pledges his love to her.

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International Corporate Rescue

"International Corporate Rescue is a must-have of the most current substantive law developments in restructuring and insolvency law. Covering legislative overviews and novelties, case reviews and analyses of cross-border controversies, it is a concise, accessible and insightful collection of leading articles from respected lawyers and academics from all over the world."

Prof. Em. Bob Wessels, University of Leiden, Leiden

 

 

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