Concept Of Consortium Agreement
In England, it is common for a consortium to buy football clubs in financial difficulty to protect them from liquidation. [Citation required] In Germany, the prevailing view is that the consortium is a kind of national life partnership (§ 705-740 BGB). In external relations, unionised members may decide on joint and several liability under Paragraph 421 BGB, while internally there is a partial exemption from such liability. Joint ventures often include loan consortia, securities issuances, including emission consortia, construction consortia, also known as investment consortia, and earnings pools. Sometimes special purpose entities created for sharing construction facilities (planning companies) are listed in a category with the consortium and pool. . . .