Wider die Verschleuderung von Unternehmen durch Pfandversteigerung

Pledges on shares and stocks are common as securities for loans. New are theattempts by pledgees to sell pledges in public auctions. The questions regardingthe requirements for such public auctions have not been answered either by Ge rmancourt decisions or literature. This fact helps the pledgees to buy the formerpledges in public auctions themselves at a price much lower than their fair marketvalue. This makes it necessary in the interests of the pledgor to show which formalrequirements the law provides for public auctions. These formal requirementsshould prohibit pledges from being sold for less than their fair market value.