Author: José Engrácia Antunes Publisher: Springer ISBN: Category : Business & Economics Languages : en Pages : 596
Book Description
Full Title: Liability of Corporate Groups: Autonomy and control in Parent-Subsidiary Relationships in US, German and EU Law, An International and Comparative Perspective. Corporation law dates from the 19th century when the growth of business enterprise required a division between the private and the company sphere, making the company a legal person with its own rights, responsibilities and liabilities. The company was no longer the legal equivalent of its owner but became a separate legal entity, providing a form of legal protection for the owners, employees and the customers. The introduction of company law meant a great step forward for those engaged in big business in Europe, the U.S. and elsewhere.
Author: M. A. P. Bovens Publisher: Cambridge University Press ISBN: 9780521628983 Category : Business & Economics Languages : en Pages : 268
Book Description
The search for responsibility in complex organisations often seems an impossible undertaking. Adopting a multidisciplinary approach combining law, social science, ethics and organisational design, Mark Bovens analyses the reasons for this, and offers possible solutions. He begins by examining the problem of 'many hands' - because so many people contribute in so many different ways, it is very difficult to determine who is accountable for organisational behaviour. Four possible solutions - corporate, hierarchical, collective and individual accountability - are analysed from normative, empirical and practical perspectives. Bovens argues that individual accountability is the most promising solution, but only if individuals have the chance to behave responsibly. The book then explores the implications of this approach. What does it mean to be a 'responsible' employee or official? When is it legitimate to disobey the orders of superiors? What institutional designs might be most appropriate?
Author: Ivan Romashchenko Publisher: Kluwer Law International B.V. ISBN: 9403517050 Category : Law Languages : en Pages : 286
Book Description
In a market environment where economic actors conduct themselves as diligent and conscientious managers, the regulation of related party transactions (RPTs) would be largely irrelevant. Unfortunately, the corporate reality is far from an ideal world that is innocent of market abuse and corporate fraud. It remains necessary to protect minority shareholders from the wrongdoings of majority shareholders and to protect all shareholders from opportunistic managerial behaviour. This timely book – the first on the subject since implementation of the European Union’s (EU’s) revised Shareholders’ Rights Directive – provides in-depth analysis of how and to what extent RPTs are covered by existing legal requirements on capital protection and corporate group regulation, highlighting experiences and strategies adopted in Germany, Poland, and the Netherlands as examples for Eastern European countries and in particular Ukraine. Beyond his comparative analysis of the current status, the author offers recommendations for more effective handling of RPTs, investigating such aspects as the following: what constitutes a corporate group and how group issues are regulated in the various legal systems; what constitutes a conflict of interest originating in ownership and control and what types of such conflicts occur; whether RPTs within corporate groups should receive special treatment relative to transactions outside groups; combatting corporate raiding, most often carried out through illegal seizure of corporate assets; approval and disclosure requirements for RPTs; and how information about RPTs is disclosed publicly. Drawing on resources including legislation, case law, scholarship, and intensive discussions with practicing lawyers from several jurisdictions, the author underscores the imperative of establishing limitations and requirements that oblige a company’s officers, shareholders, and other potential related parties to follow certain rules whenever they wish to enter into an RPT. As a contribution to the debate about the convergence between EU corporate law and that of major eastern European states, the book has no peers. Practitioners in both East and West who advise on compliance with regulations for RPTs or represent stakeholders’ interests against abusive RPTs will ensure appropriate remedies and protection mechanisms for their clients.
Author: Eilís Ferran Publisher: Oxford University Press ISBN: 0192634682 Category : Law Languages : en Pages : 705
Book Description
Corporate finance theory seeks to understand how incorporated firms address the financial constraints that affect their investment decisions. This is achieved by using varied financial instruments that seek to give holders different claims on the firm's assets. Recent scholarship in this area has highlighted the critical importance of the legal environment in explaining the choices that companies make about their capital structure. This book combines company law, capital markets law, and aspects of commercial and insolvency law to give readers a detailed understanding of the legal and regulatory issues relating to corporate finance. Informed by insights from theoretical and empirical work, the book examines from a legal perspective the key elements of corporate financing structures and capital markets in the UK. The authors' practical experience of transactions and regulatory issues ensures that thorough scholarly inquiry and critical reflection are complemented by an assured understanding of the interface between legal principles and rules as they are documented and in their actual operation. Key developments covered in this third edition include the post-Brexit adaptation of UK company law and capital market regulation, important new cases on parent company liability in tort, creditor-facing duties of directors, issuer and director liability for misleading statements to the market, alternatives to public market financing, and recent changes in the practice of debt finance.
Author: Linn Anker-Sørensen Publisher: Cambridge University Press ISBN: 1108844197 Category : Business & Economics Languages : en Pages : 337
Book Description
This book analyses innovations of structuring corporate groups and regulatory limitations of group transparency and proposes Systems Thinking as solution.
Author: Bruno da Silva Publisher: Kluwer Law International B.V. ISBN: 9041169091 Category : Law Languages : en Pages : 650
Book Description
Should the income of a corporate group be taxed differently solely because the traditional structure of the income tax system considers each company individually? Taxation affects business decisions, including location, the form in which business is carried out, and the efficient allocation of company resources. Disparities – differences arising from the interaction of different tax systems – and obstacles – distortions created by domestic legislation arising from differences between domestic and cross-border situations – both become more acute when a business chooses to set up or acquire other companies, thus forming a group, usually operating in multiple jurisdictions. Responding to such ever more common developments, this book is the first in-depth analysis of how tax treaties and EU law influence group taxation regimes. Among the issues and topics covered are the following: – analysis of the different tax group regimes adopted by different countries; – advantages and disadvantages of a variety of models; – application of the non-discrimination provision of Article 24 of the OECD Model Tax Convention to group taxation regimes; – application of the fundamental freedoms of the TFEU to group taxation regimes following the three-step approach adopted by the EU Court of Justice; – uncertainty raised by the landmark Marks & Spencer case, its interpretation and consequences to other group taxations regimes; – interrelations between tax treaties and EU Law in the context of tax groups; and – per-element approach. The analysis considers concrete examples as well as relevant case law. With its analysis of the standards required by the two sets of norms (tax treaties and EU law) and their interaction, particularly in terms of non-discrimination, this book sheds clear light on ways to overcome the disparities and obstacles inherent in group taxation regimes. As a thorough survey of the extent to which the interpretation of tax treaties and EU law affect group taxation regimes, this book has no peers. All taxation professionals, whether working in EU Member States or in EU trading partners, will appreciate its invaluable insights and guidance.
Author: Andrew Muscat Publisher: Routledge ISBN: 1351886819 Category : Law Languages : en Pages : 540
Book Description
This work deals with the liability of the holding company for the debts of its insolvent subsidiaries. In analyzing the current position under English law, the work challenges as outmoded and inadequate the virtual dogma that a holding company is not answerable for the debts of its insolvent subsidiaries. The study identifies four separate and distinct types of behavioural practices within corporate groups which may prejudice the interests of external creditors or otherwise constitute an abuse of the corporate form; the subservient subsidiary situation; the inadequately financed subsidiary situation; the integrated economic enterprise situation; and the group persona situation. After weighing the various arguments for and against a change in the law and concluding that reform is called for, the study proceeds to submit some radical proposals for reform. The basic thrust of the reform proposals is that in a number of well-defined situations entity law should give way to an enterprise analysis and holding company liability should be imposed for the debts of insolvent subsidiaries.
Author: Emeritus Professor of International Commercial Law Peter Muchlinski Publisher: Oxford University Press, USA ISBN: 0198824130 Category : Law Languages : en Pages : 913
Book Description
This leading text in the field covers all the major regulatory areas relating to the operations of multinational enterprises, analysing them not only in a legal but also a political and economic context. It is a definitive reference work for students, researchers, and practitioners working with multinational enterprises.
Author: Peter T. Muchlinski Publisher: OUP Oxford ISBN: 0191021601 Category : Law Languages : en Pages : 856
Book Description
Multinational Enterprises and the Law presents the only comprehensive contemporary and interdisciplinary account of the various techniques used to regulate multinational enterprises (MNEs) at the national, regional and multilateral levels. In addition it considers the effects of corporate self-regulation upon the development of the legal order in this area. Split into four parts the book firstly deals with the conceptual basis for MNE regulation, explaining the growth of MNEs, their business and legal forms and the relationship between them and the effects of a globalising economy and society upon the evolution of regulatory agendas in the field. Part II covers the main areas of economic regulation including the limits of national and regional jurisdiction over MNE activities, controls, and liberalization of entry and establishment, tax, company, and competition law. Part III introduces the social dimension of MNE regulation covering labour rights, human rights, and environmental issues, and Part IV deals with the contribution of international law and organizations to MNE regulation and to the control of investment risks, covering the main provisions found in international investment agreements and their recent interpretation by international tribunals.
Author: Emmanuel K. Nartey Publisher: Cambridge Scholars Publishing ISBN: 1527575756 Category : Law Languages : en Pages : 480
Book Description
This volume identifies a coherent legal principle in order to establish a novel duty of care for corporate human rights violations and environmental damages. It examines whether tort and civil law offer better accountability and remedies for victims of corporate human rights abuses, and carries out an in-depth and critical analysis of the concept of corporate accountability. Moreover, a fundamental part of this book is devoted to examining the extent to which international criminal law influences international human rights law in its use of tort law and civil law remedies. Finally, the book sets out a theoretical mechanism for duty of care, as well as a proposal for the establishment of a ‘Hybrid International Transnational Corporation Court’ that would have the potential to effectively interpret the concept of the corporate duty of care under tort law.
Author: José Engrácia Antunes
Author: M. A. P. Bovens
Author: Ivan Romashchenko
Author: Eilís Ferran
Author: Linn Anker-Sørensen
Author: Bruno da Silva
Author: Andrew Muscat
Author: Emeritus Professor of International Commercial Law Peter Muchlinski
Author: Peter T. Muchlinski
Author: Emmanuel K. Nartey