HOW LENDER GOVERNANCE IS AFFECTING CORPORATE AND CONTRACT GOVERNANCE

The essay analyses the effects on corporate and contract governance ofthe creditor’s intervention in the direction of the financed company. In fact,following the advent of new contractual types that give the lender conformativepowers in the debtor company, the traditional idea according to which the creditorwas not endowed with adequate incentives to manage the company has graduallybeen overcome. On the contrary, the creditor’s contribution may prove beneficialboth for the good performance of the entity’s business and for preserving, moregenerally, the market structures in which the debtor company operates.