Corporations (Law) Research Papers - Academia.edu (original) (raw)
Стаття присвячена адаптації корпоративного законодавства України до права корпорацій ЄС. Особлива увага приділена визначенню понять «корпорація» та «корпоративне право». Зроблено висновок щодо відсутності усталеного розуміння наведених... more
Стаття присвячена адаптації корпоративного законодавства України до права корпорацій ЄС.
Особлива увага приділена визначенню понять «корпорація» та «корпоративне право».
Зроблено висновок щодо відсутності усталеного розуміння наведених понять у національній юридичній науці та досліджено основні доктринальні підходи до їх визначення. Детально розглянуто основні підходи до правової природи корпорації в окремих європейських правопорядках – у ФРН, Франції, Англії. Констатовано наявність істотних відмінностей між законодавством України та країн ЄС, що зумовлені історією їх розвитку і особливостями конкретних національних правопорядків. Розглянуто регулювання корпоративних відносин в Європейському Союзі на наднаціональному рівні.
Зроблено висновок, що саме наднаціональне право ЄС є його “правом корпорацій” або “корпоративним правом”. Досліджено пріорітетні напрями уніфікації європейського права корпорацій на наднаціональному рівні.
Основним інструментом врегулювання порядку діяльності корпорацій у праві ЄС визначено директиви, спрямовані на гармонізацію та уніфікацію національного законодавства країн-членів ЄС.
Детально проаналізовано профільну директиву у сфері права корпорацій ЄС - DIRECTIVE (EU) 2017/1132 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 14 June 2017 relating to certain aspects of company law (codification), предметом регулювання якої є правовідносини створення, діяльності та припинення компаній з обмеженою відповідальністю (limited liability companies). Окрема увага приділена діджиталізації корпоративного права ЄС. У контексті інтеграційних процесів у сфері приватного права визначено окремі тенденції, властиві корпоративному законодавству України.
Зокрема, звертається увага на неузгодженість норм корпоративного законодавства України, які містяться у двох кодифікованих актах – ЦК України та ГК України, а також у низці спеціальних законів. При цьому, сфера дії окремих норм є тотожною, а їх зміст – різним.
Зроблено висновок щодо необхідності системного оновлення корпоративного законодавства України не лише з огляду на законодавчо закріплену вимогу поступової адаптації права України до права ЄС, але і у зв’язку із його неузгодженістю та перманентними та несистемними змінами.
To θέμα της μεταβίβασης της επιχείρησης και της ευθύνης του αποκτώντος αποτελεί αντικείμενο συνεχών επιστημονικών συζητήσεων, που οφείλονται αφενός μεν στην έλλειψη πλήρους νομοθετικής ρυθμίσεως του όλου ζητήματος και αφετέρου στις... more
To θέμα της μεταβίβασης της επιχείρησης και της ευθύνης του αποκτώντος αποτελεί αντικείμενο συνεχών επιστημονικών συζητήσεων, που οφείλονται αφενός μεν στην έλλειψη πλήρους νομοθετικής ρυθμίσεως του όλου ζητήματος και αφετέρου στις ανακύπτουσες δυσχέρειες που προκαλεί η αστική νομοθεσία, που εμποδίζει η επιχείρηση να αποτελέσει ως σύνολο αντικείμενο δικαιώματος και στη σύγκρουση των διατάξεων του κοινού δικαίου (ΑΚ 479) με διατάξεις του ειδικού εταιρικού δικαίου. Βασικό ερώτημα της μονογραφίας είναι αν η επιχείρηση ως αναμφισβήτητη οικονομική ενότητα μπορεί να χαρακτηρισθεί και ως νομική ανεξάρτητα από τα απαρτίζοντα αυτή στοιχεία, ώστε να καταστεί αντικείμενο ιδιαίτερων εννόμων σχέσεων και ιδιαίτερης έννομης προστασίας. Αν δηλαδή η επιχείρηση ως υπεραξία μπορεί να θεωρηθεί ασώματο αντικείμενο/άϋλο περιουσιακό αγαθό, που υπερέχει έναντι των άλλων περιουσιακών στοιχείων της, ώστε στη συνέχεια ο μεταβιβάζων αυτή να θεωρείται ότι συμμεταβιβάζει όλη την επιχείρηση. Το όλο ζήτημα της μονογραφίας επικεντρώνεται: στο αν η επιχείρηση μπορεί να μεταβιβασθεί ως νομική και οικονομική ενότητα, ως αυτοτελής νομική ύπαρξη και στην έκταση της ευθύνης κυρίως του αποκτώντος την επιχείρηση.
Η παρούσα μελέτη παραγματεύεται την αύξηση κεφαλαίου και το δικαίωμα προτίμησης μετά το νέο Ν 4548/2018 για την ΑΕ . Η αύξηση του µετοχικού κεφαλαίου αποτελεί τον προσφορότερο τρόπο χρηµατοδότησης της ανώνυµης εταιρίας αντί της προσφυγής... more
Η παρούσα μελέτη παραγματεύεται την αύξηση κεφαλαίου και το δικαίωμα προτίμησης μετά το νέο Ν 4548/2018 για την ΑΕ .
Η αύξηση του µετοχικού κεφαλαίου αποτελεί τον προσφορότερο τρόπο χρηµατοδότησης της ανώνυµης εταιρίας αντί της προσφυγής αυτής στο τραπεζικό δανεισµό. Πολλές φορές όµως δηµιουργεί κινδύνους για τους µετόχους της µειοψηφίας. Με την αύξηση του µετοχικού κεφαλαίου µειώνεται η αξία των παλιών µετοχών, µε συνέπεια την ελάττωση του ποσοστού συµµετοχής των παλιών µετόχων στα κέρδη και στο προϊόν εκκαθάρισης της εταιρίας και συνάµα αποδυναµώνεται το δικαίωµα ψήφου τους, ιδίως όταν καταργηθεί το δικαίωµα προτίµησης και εκδοθούν οι νέες µετοχές σε τιµή κατώτερη της πραγµατικής αξίας των παλιών µετοχών. Συγ-χρόνως δε η αύξηση κεφαλαίου επηρεάζει αρνητικά το δικαίωµα µετατροπής των οµολογιούχων δανειστών, αν κατά τη µετατροπή των τίτλων οι νέες µετοχές ή οι νέες µετατρέψιµες οµολογίες διατεθούν στους παλιούς µετόχους.........
Corporations dominate our societies. They employ us, sell to us, and influence how we think and who we vote for, while their economic interests dictate local, national, and global agendas. Written in clear and accessible terms, this... more
Corporations dominate our societies. They employ us, sell to us, and influence how we think and who we vote for, while their economic interests dictate local, national, and global agendas. Written in clear and accessible terms, this much-needed textbook provides critical perspectives on all aspects of the relationship between business and society: from an historical analysis of the spread of capitalism as the foundation of the 'corporate' revolution in the late nineteenth-century to the regulation, ethics, and exclusionary implications of business in contemporary society. Furthermore, it examines how corporate power and capitalism might be resisted, outlining a range of alternatives, from the social economy through to new forms of open access or commons ownership.
This paper offers the concept of " justice failure, " as a counterpart to the familiar idea of market failure, in order to better understand managers' ethical obligations. This paper takes the " Market Failures Approach " (MFA) to... more
This paper offers the concept of " justice failure, " as a counterpart to the familiar idea of market failure, in order to better understand managers' ethical obligations. This paper takes the " Market Failures Approach " (MFA) to business ethics as its point of departure. The success of the MFA, I argue, lies in its close proximity with economic theory, particularly in the idea that, within a larger scheme of social cooperation, markets ought to pursue efficiency and leave the pursuit of equality to the welfare state. As a result, the core ethical responsibility of business actors is to avoid profiting off of market failure. After reviewing this approach I challenge its emphasis on efficiency. I argue that just as we note the suboptimal efficiency of actual markets (market failure), we should also take seriously the suboptimal equality of actual welfare states (what I call " justice failure "). Taking this idea seriously results in a whole other set of ethical responsibilities for businesses to take into account; in addition to market imperfections and regulatory lacunae, managers should also avoid profiting from, and exacerbating, structural inequalities and injustices. I offer an outline of the kinds of injustices and inequalities that would have bearing on business ethics, and the kinds of ethical responsibilities that this approach suggests that business actors should take into account.
*Some copyediting still remains to be done. Please excuse awkward citations, formatting, or typos.
P~. ac1n1 Giuridica ottobre-dicembre 4/2016 anno XXX Appunti sulle Sicaf. Profili societari SOMMARIO: 1. Codice civile ed atipizzazione delle società per azioni. -2. La tripartita articolazione della gestione collettiva del risparmio: una... more
P~. ac1n1 Giuridica ottobre-dicembre 4/2016 anno XXX Appunti sulle Sicaf. Profili societari SOMMARIO: 1. Codice civile ed atipizzazione delle società per azioni. -2. La tripartita articolazione della gestione collettiva del risparmio: una articolazione tripartita. -3. Società di investimento a capitale fisso (Sicaf). -3.1. Sicaf, Sicav e società per azioni di diritto comune. -3.2. Sicaf e le c.d. società di partecipazione finanziaria. -3.3. Sicaf e capitale sociale. -3.4. Sicaf, conferimenti, versamenti ed apporti patrimoniali. -3.5. Sicaf e strumenti finanziari partecipativi. -3.6. Sicaf ed azioni. -3.7. Sicaf e governo societario. -3.7.1. Sicaf autogestite e Sicaf eterogestite. -3.7.2. Sicaf e società partecipate. -3.8. Sicaf e scioglimento. -3.9. Sicaf ed operazioni straordinarie: fusione e scissione. -4. Rilievi conclusivi. 634 Maria Lucia Passador ue o non ue), etf (exchange traded Junds) 3 , Oicr master e feeder 4 , Sgr (società di gestione del risparmio), Gefìa (gestori di fondi alternativi), EuVeVa Funds (European Venture Capitai Funds, introdotti dal regolamento 345/2013), EuSEFs (European Socia! Entrepreneurship Funds, introdotti dal regolamento 346/2013) ed ELTIFs (European Long Term Investment Funds) 5 rappresentano infatti i tasselli di un quadro com-3 Appartenenti alla categoria degli Oicr di tipo indicizzato o a "gestione passiva", nati al fine di soddisfare le concrete esigenze degli investitori istituzionali nonché di consentire agli investitori tanto i vantaggi della liquidità, flessibilità e quotazione in Borsa (caratterizzanti i titoli azionari) quanto quelli dell'accesso, diversificazione e regolamentazione (solitamente propri dei fondi comuni), essi-noti anche come Trackers -hanno origin~ agli inizi degli anni Novanta nel mercato mobiliare del Nord America, precisamente, canadese prima e statunitense poi. Le peculiarità che li caratterizzano implicano la necessità di talune esenzioni rispetto al regime normativo tradizionalmente previsto per i fondi comuni di investimento, rispetto ai quali si differenziano sia per modalità di emissione e di rimborso sia per modalità di negoziazione. Caratterizzati da maggiore efficienza fiscale, diversificazione ·del rischio (consentendo di investire in un gruppo di società e non solo, come accade per i titoli azionari, in un'unica società) e costi di gestione inferiori. Per un più ampio inquadramento si rinvia a AA.Vv., Tutti gli strumenti del risparmio: dai titoli di Stato agli hedge fund, dalle azioni agli Et/, a cura di Liera, Il Sole 24 Ore, Milano, 2006; MAzzoLA e Fuso, Investire in ETF: la sfida ai fondi comuni e alle gestioni, Milano; 2004; GAsTINEAu, Exchange Traded Funds. An Introduction, in Tbe ]ournal o/ Portfolio Management, 2001, vol. 27, n. 3. 4 SFAMENI e GIANNELLI, Diritto degli intermediari e dei mercati.finanziari, Milano, 2013, 190 e ANNuNzIATA, UCITS, OICR, SGR, SIIQ, FIA, SICAF. .. guazzabuglio di sigle, cit., ove, sebbene in diverso contesto, l'A. rileva come •[l]a forma dell'Oicr, le sue caratteristiche si sono frammentate in una serie di tipi e sottotipi, frutto di scelte specifiche e particolari .. 5 L'introduzi9ne di una realtà ulteriore è dovuta, alla luce dei consideranda (in p~rticolare, v. Consideranda n. 1-4) esposti nel documento del Consiglio dell'Unione Europea, n. 16386/14, datato 5 dicembre 2014 ("Proposal /or a Regulation o/ the European Parliament and o/ the Council on European Long-term Investment Funds (ELTIFs) -Approva! o/ the .final compromise text"), ad una serie di considerazioni essenziali: •Cl) Long-term .finance is a crucial enabling tool /or putting the European economy on a path o/ sustainable, smart and inclusive growth, in accordance with the Europe 2020 strategy, high employment and competitiveness /or building tomorrow's economy in a way that is less prone to systemic risks and is more resilient. European long-term investment funds (ELTTFs) provide .finance to various infrastructure projects, unlisted companies or listed small and medium-sized enterprises (SMEs) o/ lasting duration that issue equity or debt instruments /or which there is no readily identifiable buyer. By providing .finance to such projects, ELTTFs contribute to the .financing o/ the Union's real economy and the implementation o/ its policies. (2/ 0n the demand side, ELTTFs can provide a steady income stream /or pension administrators, insuranèe companies, foundations, municipalities and other entities that /ace regular and recurrent liabilities andare seeking long-term returns within well-regulated structures.
Сьогодні процедура примусового викупу акцій мажоритарними акціонерами у міноритаріїв у багатьох країнах світу є ефективним засобом захисту прав великих інвесторів і популярним тактичним прийомом, що дозволяє ефективно регулювати процес... more
Сьогодні процедура примусового викупу акцій мажоритарними акціонерами у міноритаріїв у багатьох країнах світу є
ефективним засобом захисту прав великих інвесторів і популярним тактичним прийомом, що дозволяє ефективно регулювати
процес корпоративного управління в господарських організаціях,
інструментарієм, який сприяє недопущенню корпоративних конфліктів між учасниками та паралізації діяльності підприємств.
За даними Національного депозитарію України станом на
01 вересня 2021 року в Україні було зареєстровано 386 процедури сквіз-аут. При цьому, не можливо не відзначити на багатьох
спірних моментах, пов’язаних із запровадженням відповідного механізму в національну правову екосистему (правомірність
втручання). Механізм примусового позбавлення права власності
був також предметом судового розгляду Федеральним конституційним Судом Німеччини.
4. Given the breadth of the aforequoted characterization of a common carrier, the Court has considered the following as common carriers: a. common carriers pipeline operators, b. custom brokers and warehousemen, and c. barge operators... more
4. Given the breadth of the aforequoted characterization of a common carrier, the Court has considered the following as common carriers: a. common carriers pipeline operators, b. custom brokers and warehousemen, and c. barge operators Even if they had limited clientèle.
Resumen El concepto de interés social es la noción medular y fundamental del moderno derecho de sociedades porque es sobre la que se construye todo el marco institucional del contrato de sociedad y la configuración de los derechos y... more
Resumen
El concepto de interés social es la noción medular y fundamental del moderno derecho de sociedades porque es sobre la que se construye todo el marco institucional del contrato de sociedad y la configuración de los derechos y deberes de los socios y administradores. Por esta misma razón es también un concepto que ha sido largamente debatido y controvertido. En el presente trabajo se realiza una valoración crítica de los dos planteamientos teóricos doctrinales mayoritarios (contractualista e institucionalista) que han influido e informado a nuestra legislación societaria y a los tribunales desde los orígenes. Partiendo de la base de la problemática práctica e idiosincrasia concreta que presenta el mercado español (cuyo tejido empresarial son pymes y sociedades de carácter “cerrado”), este trabajo se propone contribuir a la reflexión de una teoría ecléctica y alternativa que armonice algunos planteamientos de las dos teorías dominantes sobre el interés social de modo que puedan satisfacerse mejor las necesidades y objetivos de las sociedades de capital.
Palabras clave: derecho de sociedades, interés social, junta de accionistas, órgano de administración. sociedades de capital cerradas
Abstract
The concept of corporate interest is the core and fundamental notion of modern corporate law because it is on which the entire institutional framework of the corporation and the configuration of the rights and duties of the shareholders and directors are built. For this same reason it is also a concept that has been long debated and controversial. In the present work a critical assessment is made of the two main doctrinal theoretical approaches (contractualist and institutionalist) that have influenced and informed our corporate regulation and courts since the beginning. Starting from the basis of practical problems and concrete idiosyncrasies presented by the Spanish market (where Small and Medium Enterprises which adopt the legal form of closely-held corporation are majority), this work aims to contribute to the reflection of an eclectic and alternative theory that harmonizes some approaches of the two dominant theories on corporate interest so that the needs and objectives of corporations can be better satisfied.
Keywords: Corporate Law, Corporate Interest, Shareholder´s Meeting, Board of Directors, Closely-held corporation
Π Πα αν να αγ γι ιώ ώτ τα α Τ Τζ ζι ιβ βά άρ ρα α Επίκουρη Καθηγήτρια Ιστορίας του Βενετοκρατούμενου Ελληνισμού Δημοκριτείου Πανεπιστημίου Θράκης Αντικείμενο της παρούσας εργασίας είναι η παρουσίαση της ομάδας των υποδικηγόρων ή δικολάβων... more
Π Πα αν να αγ γι ιώ ώτ τα α Τ Τζ ζι ιβ βά άρ ρα α Επίκουρη Καθηγήτρια Ιστορίας του Βενετοκρατούμενου Ελληνισμού Δημοκριτείου Πανεπιστημίου Θράκης Αντικείμενο της παρούσας εργασίας είναι η παρουσίαση της ομάδας των υποδικηγόρων ή δικολάβων στο νησί της Ζακύνθου καθώς και η ένταξή τους σε συσσωμάτωση, στην περίοδο της όψιμης βενετικής κυριαρχίας. Οι δικολάβοι, οι οποίοι στις ιταλικές πηγές απαντούν ως intervenienti, procuratori, comessi, sollecitadori, causidici 1 , μαζί με τους δικηγόρους ήταν οι επαγγελματίες, που αναλάμβαναν την υπεράσπιση των διαδίκων στα δικαστήρια, ή παρείχαν νομική αρωγή, ανάλογα με τον τόπο εκδίκασης της υπόθεσης και τον βαθμό αρμοδιότητας του δικαστηρίου.
The Corporate take over of our Republic is seen in the registered businesses portrayed as governmental offices, when in fact these offices are businesses not government. Please read the list and share. Thank you Dana Obar for this... more
The Corporate take over of our Republic is seen in the registered businesses portrayed as governmental offices, when in fact these offices are businesses not government. Please read the list and share. Thank you Dana Obar for this spreadsheet.
1. Introdução. 2. Enquadramento da discussão sobre o âmbito de aplicação subjetivo do artigo 3.º da Lei n.º 148/2015. 3. A questão prévia da natureza do CGS: órgão de fiscalização (global). 4. A transposição da Diretriz de Revisão de... more
1. Introdução. 2. Enquadramento da discussão sobre o âmbito de aplicação subjetivo do artigo 3.º da Lei n.º 148/2015. 3. A questão prévia da natureza do CGS: órgão de fiscalização (global). 4. A transposição da Diretriz de Revisão de Contas no sistema alemão. 5. Delimitação do âmbito subjetivo de aplicação do artigo 3.º/2 e 3 da Lei 148/2015 nas SA de modelo germânico. 6. Excurso de iure condendo: a (in)conveniência da revisão do artigo 3.º/2 da Lei n.º 148/2015 para acautelar especificidades do modelo germânico. 7. Outros pontos de reflexão sobre o Direito das sociedades a partir deste case study
Ausgezeichnet mit dem Prix spécial de la Faculté de Droit de l'Université de Fribourg im Rahmen des XII. Internationalen Romanistischen Preises Gérard Boulvert 2022 und mit dem Fakultätspreis 2020 der Juristischen Fakultät der... more
Ausgezeichnet mit dem Prix spécial de la Faculté de Droit de l'Université de Fribourg im Rahmen des XII. Internationalen Romanistischen Preises Gérard Boulvert 2022 und mit dem Fakultätspreis 2020 der Juristischen Fakultät der Ludwig-Maximilians-Universität München. – Inwieweit das römische Recht Vereine als Träger von Rechten und Pflichten gekannt hat, ist seit Langem Gegenstand der rechtshistorischen Forschung. Zwar ist die Existenz von Gegenständen des Vereinsvermögens in den Quellen belegt, doch schien damit bislang kaum vereinbar, dass der Vertragsschluss durch einen Vereinsfunktionär im römischen Recht – anders als im modernen Recht – regelmäßig nicht dazu führt, dass der Verein Partei des Vertrags wird. Aufgrund der Quellenfunde der letzten Jahrzehnte kann dieser Befund erstmals erklärt werden: Wenn sich ein Vereinsfunktionär für den Verein vertraglich verpflichtet, räumt ihm die Satzung hierfür einen Ausgleich aus dem Vereinsvermögen ein, der gerichtlich durchsetzbar ist. Ferner kann gezeigt werden, dass nicht das Vertragsrecht, sondern in erster Linie die Verbreitung testamentarischer Stiftungen im gesamten Reich während des 1. und 2. Jahrhunderts n. Chr. die römischen Juristen veranlasst hat, die Berechtigung bzw. Verpflichtung von Vereinen aus Forderungen und Verbindlichkeiten zu konzeptualisieren.
Modern-day corporations should not be granted the same first amendment privileges enjoyed by individual citizens. In Citizens United v. FEC, 130 S. Ct. 876 (2010), Citizens United argued that when the First Amendment was drafted, it did... more
Modern-day corporations should not be granted the same first amendment privileges enjoyed by individual citizens. In Citizens United v. FEC, 130 S. Ct. 876 (2010), Citizens United argued that when the First Amendment was drafted, it did not define corporations as outside its jurisdiction, and the amendment protects the right of “speech” without regard to the “speaker.” However, it is important to note that the Founding Fathers could not have anticipated the nature of modern corporations, which are far from the “association of peers” corporations used to resemble. Instead, modern corporations focus on short-tern goals that have led to horrible accounting scandals, bankruptcies, and public outrage. Thus, the “voice” of a corporation does not reflect the voices of its individual employees, but protects the association’s selfish goals. A corporation should not be considered the same as an individual or an association of peers on the subject of the first amendment.
- by L. Larry Liu
- •
- History, Economic History, Sociology, Law
This paper critically analyzes the scope and exceptions of the prohibition against financial assistance with a focus on Leveraged Buy Outs (LBOs) in the Spanish legal system. The authors endeavor to point out potential deficiencies that... more
This paper critically analyzes the scope and exceptions of the prohibition against financial assistance with a focus on Leveraged Buy Outs (LBOs) in the Spanish legal system. The authors endeavor to point out potential deficiencies that prevent the current legal framework from meeting the desirable legal certainty standards pursued by legal operators. Moreover, the legality of these operations is being questioned by a significant portion of legal scholars, who identify a significant risk of legal avoidance, since proving that the operation is made due to economic reasons different than the mere leveraging of debt can be difficult.
Drawing on 32 months of interview-based ethnographic fieldwork, this paper examines Finland's "mankala" nuclear energy companies through the lens of anthropological theories of corporate form. Mankalas are limited liability companies run... more
Drawing on 32 months of interview-based ethnographic fieldwork, this paper examines Finland's "mankala" nuclear energy companies through the lens of anthropological theories of corporate form. Mankalas are limited liability companies run like zero-profit cooperatives that bring together consortia of Finnish corporations and municipal energy providers to purchase, finance, and share the output of jointly owned energy-generation facilities. They have long been associated with "uniquely Finnish" modes of trust, cooperation, societal cohesion, and transparency. In recent years, however, political-economic uncertainties have destabilized Finland's mankala circuit, impacting how, whether, and when mankalas Teollisuuden Voima Oyj and Fennovoima have pursued new reactor projects. This has impacted reactor technology suppliers abroad, including France's Areva, Germany's E.On, and Russia's Rosatom. With that in view, this paper explores whether anthropological analysis of Finland's mankala corporate form can inspire new strategies for institutional innovation and reactor project financing for nuclear energy organizations. To chart out avenues for collaboration between anthropologists and nuclear energy practitioners, it concludes by proposing three pathways through which anthropological sensibilities could inform institutional decision making. I term these pathways holism, tracking and translation.
Theme and Purpose: The centrality of law for the study of political economy was widely recognized at the time of the emergence of the political economy discipline in the 18th century as well as throughout the 19th century. From the outset... more
Theme and Purpose: The centrality of law for the study of political economy was widely recognized at the time of the emergence of the political economy discipline in the 18th century as well as throughout the 19th century. From the outset law was considered an essential component of political economy studies because social phenomena such as capital, labor and power gain their form and basic characteristics from their status as legal institutions. Since then the economic discipline has however increasingly detached itself from neighboring disciplines leaving political economy to economic sociology and political science at the same time as these disciplines increasingly has underplayed the centrality of law in relation to their assessment of political economy institutions. On this background, the conference aims in general terms to reinvigorate the focus on law and reassessing the role of law in political economy contexts. More specifically it aims to increase our theoretical understanding of the function law fulfills between economy and politics and to historically assess the evolution of law and legal thinking in relation to the issue of how law contributes to the stabilization of economic and political processes at the local, national and transnational level of world society.
Монографію присвячено дослідженню природи корпорації як окремої моделі юридичної особи, для якої характерним є стан відносин між нею та її учасниками, що полягає в концентрації приватного інтересу її бенефіціарів навколо мети діяльності.... more
Монографію присвячено дослідженню природи корпорації як окремої моделі юридичної особи, для якої характерним є стан відносин між нею та її учасниками, що полягає в концентрації приватного інтересу її бенефіціарів навколо мети діяльності. Проведено сучасний аналіз теорій юридичної особи, за результатами якого наголошено на втраті значення теорії Personificationstheorie.
Досліджено структуру корпоративних юридичних відносин, встановлено підстави їх виникнення. Доведена цивільно-правова інституціональність корпоративних відносин. Визначена поліваріативність їх змісту, яка складається з комбінації організаційних, майнових і особистих немайнових сегментів.
Розкрито міждисциплінарний аспект проблеми корпоративного управління юридичною особою. Через аналіз бінарного та монотипового підходів розкрита морфологія моделі управління корпорації, встановлена їх варіативність.
Окрему увагу приділено субстандартним механізмам захисту корпоративних юридичних відносин, зокрема прав учасників в умовах облігаторної консолідації корпоративного контролю.
Видання адресовано науковим та науково-педагогічним працівникам, аспірантам, студентам закладів вищої освіти, іншим суб’єктам правореалізації та всім, хто цікавиться актуальними проблемами корпоративного права
Este prolegómeno expone la discusión sobre la personalidad jurídica de los colectivos de personas y su impacto en el problema de la titularidad de derechos fundamentales de las asociaciones y las personas jurídicas. Estas consideraciones... more
Este prolegómeno expone la discusión sobre la personalidad jurídica de los colectivos de personas y su impacto en el problema de la titularidad de derechos fundamentales de las asociaciones y las personas jurídicas. Estas consideraciones permiten mostrar dónde se encuentra reconocida la titularidad de derechos fundamentales de los grupos intermedios en el sistema constitucional chileno, así como sus importantes limitaciones.
Resumen: El objeto de este trabajo es analizar la idoneidad del derecho de separación en las sociedades de capital, examinando su regulación legal y el margen de libertad estatutaria, para su configuración e invocación por los socios... more
Resumen: El objeto de este trabajo es analizar la idoneidad del derecho de separación en las sociedades de capital, examinando su regulación legal y el margen de libertad estatutaria, para su configuración e invocación por los socios paritarios (50%) en el marco de una situación de bloqueo de la junta general. Para ello, se desarrollará una aproximación crítica aplicada a esta problemática, siguiendo la sistematización que comparte actualmente junto al derecho de exclusión, en el Título IX del Real Decreto Legislativo 1/2010, de 2 de julio, por el que se aprueba el texto refundido de la Ley de Sociedades de Capital. En primer lugar, se abordará el fundamento dogmático de este instituto, a partir de un análisis positivo y exegético de su regulación, y su posible aplicación para los supuestos de bloqueo orgánico de las sociedades con distribución de capital 50-50. Acto seguido, se tratará la vinculación existente entre la separación como derecho del socio y el derecho de exclusión, para después proseguir con su articulación causal y técnica, así como la discusión de la pertinencia de una reforma legislativa que introduzca el derecho de separación por justa causa. Finalmente se concluirá con una valoración crítica de un hipotético derecho de separación sin causa o ad nutum, y la problemática que su inclusión puede plantear en las sociedades cerradas, y particularmente, en las sociedades 50-50.
Palabras clave: derecho de sociedades, derecho de separación, bloqueo, sociedades de capital, sociedades cerradas, estatutos sociales, pactos parasociales, Ley de Sociedades de Capital
Abstract: The purpose of this paper is to analyze the suitability of the appraisal rights and other shareholders´ exit rights in close corporations, examining their legal framework and the contractual freedom for their configuration and invocation by the co-equal shareholders in the context of a situation of deadlock of the general meeting. For this, a critical approach applied to this corporate conflict will be developed, following the systematization that it currently shares together with the exclusion of shareholders, in the Title IX of the current Spanish Companies Act. In the first place, the dogmatic foundation of this institute will be approached, based on a positive and exegetical analysis of its regulation, and its possible application for deadlock situations in co-equal corporations. Subsequently, the relationship between the appraisal right and the exclusion of shareholders will be discussed, and then proceed with its causal and technical articulation, as well as the discussion of the relevance of a legislative reform that introduces other types of exit rights for shareholders. Finally, this work will conclude with a critical assessment of a hypothetical exit right without cause and the problems that its inclusion might pose in closely-held corporations, and particularly in 50-50 corporations.
Keywords: Corporate Law, appraisal rights, exit rights, deadlock, corporations, closely-held corporations, bylaws, shareholder´s agreements, Spanish Companies Act
The fear that business corporations have claimed unwarranted constitutional protections which have entrenched corporate power has produced a broad social movement demanding that constitutional rights be restricted to human beings and... more
The fear that business corporations have claimed unwarranted constitutional protections which have entrenched corporate power has produced a broad social movement demanding that constitutional rights be restricted to human beings and corporate personhood be abolished. We develop a critique of these proposals organized around the three salient rationales we identify in the accompanying narrative, which we argue reflect a narrow focus on large business corporations, a misunderstanding of the legal concept of personhood, and a failure to distinguish different kinds of constitutional rights and the reasons for assigning them. Corporate personhood and corporate constitutional rights are not problematic per se once these notions are decoupled from biological, metaphysical or moral considerations. The real challenge is that we need a principled way of thinking about the priority of human over corporate persons which does not reduce the efficacy of corporate institutions or harm liberal democracies.
Are corporations merely composites of individuals, which then take on the rights and duties of individuals, or are they concessions from a sovereign government and therefore subject to popular control? The latter view in this perennial... more
Are corporations merely composites of individuals, which then take on the rights and duties of individuals, or are they concessions from a sovereign government and therefore subject to popular control? The latter view in this perennial debate has been particularly influential to those who see the idea of corporate personhood as fundamentally anti-democratic and destructive. While sympathetic to the goals of these critics, this paper aims to show that “corporate personality” is not, in itself, a dangerous or malignant concept. I attempt to revive a long-dormant view of corporations that says they are real entities that depend upon the actions of both individuals and states but are reducible to neither. I argue that this realness is grounded in the specific sorts of relationships that corporations are functionally dependent upon. This relational approach to corporate personality helps us understand how normative and critical political theory should approach the corporation.
The Directive (EU) 2017/1132 of the European Parliament and of the Council of 14 June 2017 Relating to Certain Aspects of Company Law Article (Art.) 46 provides that a public limited liability company’s subscribed capital may be formed... more
The Directive (EU) 2017/1132 of the European Parliament and of the Council of 14 June 2017 Relating to Certain Aspects of Company Law Article (Art.) 46 provides that a public limited liability company’s subscribed capital may be formed only of assets capable of economic assessment. Likewise, 6102 numbered Turkish Commercial Code Art. 342 articulates that payments in cash, tangible assets and intangible assets may be provided as capital for stock corporations, the Turkish equivalent of public limited liability companies. However, a minimum capital of 50.000, 00 TL shall be subscribed in order for a stock corporation to be incorporated (TCC Art. 332). Accordingly, when an intangible asset is being provided as capital to the stock corporation, appraisal experts appointed by the court shall make the valuation of the pertinent intangible asset (TCC Art. 343). The expert report shall indicate the valuation method, existence of the intangible asset, its validity and compliance with TCC Art. 342, its collectability and exact value, as well as the value and number of shares it corresponds to. In line with these rules and procedures, it appears that a producer may provide the motion picture intellectual property rights she holds as an eligible form of capital for a stock corporation. Still, whether a motion picture intellectual property right would satisfy the TCC Art. 343 criteria shall be analyzed through the principles articulated by the 5846 numbered Law on Intellectual and Artistic Works (LIAW). Official Comment to TCC Art. 343 signals that the expert report should review all legal factors concerning the intellectual property rights based on the applicable legislation. This study evaluates the legal factors which may revoke or adversely affect the eligibility of a motion picture intellectual property right held by a motion picture film producer under the applicable Turkish law, in connection with the Directive, the Berne Convention for the Protection of Literary and Artistic Works, and the International Convention for the Protection of Performers, Producers of Phonograms and Broadcasting Organizations. In particular, the study outlines how the separation between moral rights and economic rights may provide adverse limitations on the eligibility of motion picture intellectual property rights held by motion picture producers, in connection with the rules on stock corporation capital subscription. In particular, it exemplifies such inherent adverse limitations through the lens of copyright registration, rights of the performers and authors of scenarios of motion pictures.
There is a core contradiction in legal approaches to dealing with corporate crime: when regulation (and punishment) is effective, it has the effect of stabilizing the system. When regulation is most effective, it enhances the longevity of... more
There is a core contradiction in legal approaches to dealing with corporate crime: when regulation (and punishment) is effective, it has the effect of stabilizing the system. When regulation is most effective, it enhances the longevity of capitalism as a system. Yet as socialists, we know that this is not in the interests of everyone. When we demand effective regulation, and when we demand justice for a criminal ruling class in such moments, we are also demanding that capitalism corrects itself. This is why demanding punishment of corporations, or of their executives, as a panacea to such crises or to the problems caused by capitalism can only ever be a strategy of limited or modest reform. This essay explores how we can demand justice in ways that both seek to ameliorate the deadly harms produced by capitalism in the short term, but at the same time weaken capitalism as a system in the long run. The purpose of this essay, therefore, is to think how our demands for the punishment of corporate crime are targeted in ways that might usefully contribute to a transformative strategy.
In the second half of the nineteenth century, as the corporation was becoming a dominant force in American life, American writers responded to its torrid growth with praise and trepidation. One of the most pervasive manifestations of the... more
In the second half of the nineteenth century, as the corporation was becoming a dominant force in American life, American writers responded to its torrid growth with praise and trepidation. One of the most pervasive manifestations of the corporation -the railroad -was both celebrated and feared. t In 1868, Walt Whitman sang of the "mighty railroad" as one of «the great achievements of the present;' a wonder that "spann'd" the New World. 2 But in his 1901 novel, The Octopus, Frank Norris described the corporate railroad as "the soulless force, the iron-hearted power" -an unrelenting monster that ravaged and consumed the landscape "from horizon to horizon:'3 Whitman's railroad symbolizes not only industry but "modern" expansiveness. For Norris, the railroad stands as the "symbol of a vast power" that has no soul and an unfeeling heart. Both writers suggest that the railroad's significance resides in its capacity as an organized structure that offers unprecedented reach and unrelenting growth. Put another way, the railroad is the corporation made visible, a creation symbolizing the energy and power of a new age, yet also looming with the presence of an impersonal, menacing giant. Chroniclers of the nineteenth century like Whitman and Norris tempt us to examine the corporation by studying its most spectacular examples -like the railroadas organizations to be revered or condemned. But the story of the corporation requires a far more complex accounting than what is revealed by such apparently polarized responses.
TRATTATO SOCIETÀ DI PERSONE a cura di
Filippo Preite e Carlo Alberto Busi
Tomo II
Torino 2015
Nota di Valerio Brizzolari TRIBUNALE DI REGGIO EMILIA -sez. II -16 giugno 2015, n. 964 -Nel corso del giudizio intentato da un soggetto per il recupero di un compenso professionale, la società convenuta trasferisce l'azienda a una società... more
Nota di Valerio Brizzolari TRIBUNALE DI REGGIO EMILIA -sez. II -16 giugno 2015, n. 964 -Nel corso del giudizio intentato da un soggetto per il recupero di un compenso professionale, la società convenuta trasferisce l'azienda a una società di nuova costituzione e viene successivamente messa in liquidazione. Dopo aver ottenuto una sentenza favorevole, il creditore notifica l'atto di precetto alla cessionaria, la quale tuttavia propone opposizione ritenendo di non essere responsabile. La sentenza che si vorrebbe eseguire, secondo l'opponente, era stata resa nei confronti di un altro soggetto e, in ogni caso, il debito in questione non risultava dai libri contabili della cedente. Il Tribunale, dopo aver preso atto della correttezza in astratto delle ragioni della cessionaria, perviene al rigetto dell'opposizione, facendo ricorso al principio dell'abuso del diritto invocato dalla difesa dell'opposto. La pretesa del cessionario di limitare la sua responsabilità relativamente al credito non risultante dalle scritture contabili, ai sensi dell'art. 2560, comma 2, c.c., configura un esercizio abusivo del suo diritto previsto dall'indicata disposizione, ove la cessione dell'azienda da parte di una società, successivamente posta in liquidazione, in favore di un'altra di nuova costituzione, con compagine sociale del tutto o quasi coincidente con la prima, abbia come finalità unica e decisiva quella di rendere inesigibili i crediti vantati dal terzo nei confronti del soggetto cedente. Nota di Valerio Brizzolari L'abuso del diritto: dalla funzione sociale alla regolazione teleologicamente orientata del traffico giuridico, in Riv. dir. civ., 2014, 2, 467 ss.; M. Orlandi, Contro l'abuso del diritto (in margine a Cass., 18.9.2009, n. 20106), in Nuova giur. civ. comm., 2010 F. Santoro-Passarelli, Dottrine generali del diritto civile, Napoli, IX ed., ristampa, 1983, 77; S. Patti, Abuso del diritto, in Dig. civ., I, Torino, 1994, 1 ss.; A. D'Angelo, La buona fede e l'esecuzione del contratto, in G. ALPA-M. BESSONE (diretto da), I contratti in generale, in Giurisprudenza Sistematica di Diritto Civile e Commerciale, fondata da BIGIAVI, IV, 2, Torino, 1991, 759 ss.; Piraino, La buona fede in senso oggettivo, Torino, 2015, 343 ss.
A. PENDAHULUAN Secara sederhana, Corporate Social Responsibility (CSR) merupakan suatu konsep dantindakan yang dilakukan oleh suatu perusahaan sebagai rasa tanggung jawabnya terhadap lingkungan sosial sekitar dimana perusahaan itu... more
A. PENDAHULUAN Secara sederhana, Corporate Social Responsibility (CSR) merupakan suatu konsep dantindakan yang dilakukan oleh suatu perusahaan sebagai rasa tanggung jawabnya terhadap lingkungan sosial sekitar dimana perusahaan itu berdiri. Melaksanakan suatu kegiatan yang dapat meningkatkan kesejahteraan masyarakat sekitar sebagai bentuk tanggung jawab yang melekat pada setiap perusahaan untuk tetap menciptakan hubungan yang serasi, seimbang dan sesuai dengan lingkungan, nilai, norma dan budaya masyarakat setempat. Dinda Dechyntia A 312015077
Процесс концентрации и централизации капитала, обусловленный переходом от натурального хозяйства к товарному привел к изменению экономического представление о юридическом лице, совершенствования правовой составляющей этой конструкции.... more
Процесс концентрации и централизации капитала, обусловленный переходом от натурального хозяйства к товарному привел к изменению экономического представление о юридическом лице, совершенствования правовой составляющей этой конструкции. Бесспорно, что с помощью теории фикции Ф. К. Савиньи раскрывается основная концептуальная идея обоснования природы юридического лица через концентрацию имущества и денежных средств в руках автономного субъекта права, ограничения гражданско-правовой ответственности физического лица за результаты деятельности такого субъекта, обеспечило быстрое развитие этой правовой конструкции. Однако, сегодня мы наблюдаем потребность в положительной деформации этого концепта. Через собственные особые черты, которые раскрываются в признаках самостоятельной юридической ответственности и автономной участия в гражданском обороте юридическое лицо становится средством неправомерных действий в гражданском обороте связанных с ней физических лиц. Компенсаторностю этого обстоятельства выступает расширение границ юридической ответственности физических лиц за результаты деятельности юридического лица, а также фрагментарное сужение автономии ее участия в гражданском обороте, в частности в части защиты своих субъективных гражданских прав. Итак, определяя современный взгляд на природу юридического лица мы синтезируем положения теории фикции Ф. К. Савиньи и положения о сущности человеческого субстрата в жизни юридического лица, которые развернуты в теории интереса Р. Иерингу в единую интегративную теорию.
This hungarian artical was made for a student conference to punctuate the benefits , downside or problems with the institute of whitness protection in Romania. The articale have two main points of view: on on European plan and one on... more
This hungarian artical was made for a student conference to punctuate the benefits , downside or problems with the institute of whitness protection in Romania. The articale have two main points of view: on on European plan and one on Romanian plan.
The content of this study is the introduction to Business Law – the general part, Industrial Property and Competition Law , Corporations Law, Bills / Securities Law ( bill of exchange and checks ) , Insurance Law, Insolvency Law and... more
The content of this study is the introduction to Business Law – the general part, Industrial Property and Competition Law , Corporations Law, Bills / Securities Law ( bill of exchange and checks ) , Insurance Law, Insolvency Law and Maritime Law.
The 'Occupy Movement' took many people by surprise with both its scope, as well as with the manner in which it resonated with the deep sense of discontentment that appears to be felt by many people in the United States concerning the... more
The 'Occupy Movement' took many people by surprise with both its scope, as well as with the manner in which it resonated with the deep sense of discontentment that appears to be felt by many people in the United States concerning the economic. legal and political character of American life. This book is intended to help bring a sharper focus to the concerns that are inherent in the dissatisfaction people feel concerning the idea of 'politics as usual' by offering a clear differentiation between the way of power (i.e., politics as usual) and the way of inalienable sovereignty that gives expression to a very different notion of democracy ... one that is constructive, not destructive.
The content of this study is the introduction to Business Law – the general part, Industrial Property and Competition Law , Corporations Law, Bills / Securities Law ( bill of exchange and checks ) , Insurance Law, Insolvency Law and... more
The content of this study is the introduction to Business Law – the general part, Industrial Property and Competition Law , Corporations Law, Bills / Securities Law ( bill of exchange and checks ) , Insurance Law, Insolvency Law and Maritime Law. This present study has taken into account almost all of the rapid mass legislative modifications which have taken place in the aforementioned classical branches of Greek business law, especially pertaining to the years of the economic crisis in Greece. It basically concerns transitive and conjunctive regulations of law, which have a uncertain existence as enduring abiding regulations. In recent years there is a turn in business law because of its characteristic inherent necessity to become a soft law, which can contribute, as is required, to the running of the private global economy. In order to satisfy contemporary commercial transactions, and its expediency to contemporary entrepreneurial activity, the Greek legislator will have to be more venturous in the difficult but necessary transition from the traditional commercial law of commercial undertakings to a much more broader and self-contained business law , which will also comprise of classical commercial law, labor and tax law. The law of commerce should be the equivalent of the global business in the sense that it should be adapted to the needs of the international environment as a more comprehensive law of the economic market, but also to the particularities of the Greek social environment with respect to the restrictive principles of the current Greek law.