Revisiting the Legal Capital Regime in Modern Company Law

This article examines the relevance and viability of the legal capital regime as a mechanism in protecting creditors’ interests and compares the different approaches adopted by the United States and European Union in regulating the matter. It ultimately argues that the latter should learn from the former and consider repealing its current law on legal capital rules thus allowing individual member states the flexibility to adopt alternative measures to safeguard the interests of creditors.