# kaal:claim:617681-027

**Claim.** Member States can avoid at least part of the result in Centros and Inspire Art by recharacterizing what used to be corporate law as creditor protection law, provided the recharacterized rule does not discriminate against foreign corporations.

**Type.** failure  **Support.** argued

**Holds when.**

- non discriminatory national measures

**Source quote.**

> this answer suggests that Member States can avoid at least part of the result in Centros and Inspire Art by recharacterizing what used to be corporate law as creditor protection law.

**From.** Christian Kirchner, Richard W. Painter, Wulf A. Kaal, *Regulatory Competition in EU Corporate Law after Inspire Art Unbundling Delaware's Product for Euro* (2004), D.II.2 Incomplete Information About How Judges will Resolve Conflict of Laws Problems, page 32

**Cite as.** Christian Kirchner, Richard W. Painter, Wulf A. Kaal, Regulatory Competition in EU Corporate Law after Inspire Art Unbundling Delaware's Product for Euro (2004). SSRN: https://ssrn.com/abstract=617681

**Verify.** sha256 of source PDF `e142130507ea2f5b025fd97b3f762d44ee3a7aaa82b155aab63434b85e8fd834` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kirchner%20et%20al.%20-%202004%20-%20Regulatory%20Competition%20in%20EU%20Corporate%20Law%20after%20Inspire%20Art%20Unbundling%20Delaware%27s%20Product%20for%20Euro.pdf

**Failure mode.** doctrinal-recharacterization  (family: jurisdictional-conflict)

**Topics.** regulatory-failure

**Keywords.** recharacterization, creditor-protection, centros, inspire-art, regulatory-arbitrage

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