The UK capital maintenance rules have historically been justified as a form of creditor protection. Evaluate the effectiveness of these rules in achieving creditor protection and discuss, by reference to other jurisdictions where appropriate, what alterna

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Please be aware of using materials, based on old legislation. Current legislation is Company Act 2006, so please base essay on this legal act;
Please write this essay from the legal point of view;
Please compare UK legislation with such in US and EU;
Overall conclusion must not interfere with conclusion of professor Jennifer Payne
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