Interne harte Patronatserklärungen als Mittel zur Insolvenzabwehr

Patronage declarations were originally developed by practice in the late 1960s as credit security because traditional securities such as guarantees and warranties did not adequately meet the interests of the parties involved. In a broader sense, the term "patronage declaration" encompasses all atypical contracts that a parent company (patron) enters into to improve the creditworthiness of its subsidiary (protege) and that cannot be classified under traditional legal institutions such as guarantees, warranties, and debt assumption. Recently, patronage declarations, which the patron issues not to a security creditor but directly to the benefiting protege, are gaining increasing importance as a means of preventing insolvency. This work compares the obligations of both types of patronage declarations.