{"title":"Editorial: Two Ethical Questions for Corporate Lawyers","authors":"S. M. Bartman","doi":"10.54648/eucl2022024","DOIUrl":"https://doi.org/10.54648/eucl2022024","url":null,"abstract":"","PeriodicalId":11843,"journal":{"name":"European Company Law","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48295515","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Corporate Arbitration and Listed Companies: A Nice Couple in Capital Markets? The Case of Italy and a European Perspective","authors":"Valentina Allotti, Federico Raffaele","doi":"10.54648/eucl2022026","DOIUrl":"https://doi.org/10.54648/eucl2022026","url":null,"abstract":"Recent amendments to the Italian Law of Civil Procedure (‘ICCP’) have not removed the existing ban on intra-corporate dispute (‘ICD’) arbitration for Italian listed companies. As we believe that ICD arbitration can provide redress to shareholders and improve management accountability, we criticize this approach and develop a ‘model’ for ICD arbitration that brings together (1) the corporate governance perspective, for a proper balance between the flexibility of the adoption of the arbitration clause and the protection of minority shareholders; (2) the capital markets perspective, for the disclosure to the public of relevant information in order to protect investors and build trust; and (3) the arbitration perspective, for the adoption of specific rules (a) to allow the participation of a potential great number of parties to the procedure, (b) to ensure the appointment of qualified and independent arbitrators in a typical multi-party dispute, and (c) to ensure that arbitrators may adopt conservatory and interim measures. Finally, we suggest that it might be beneficial to promote such model also at the EU level, as such benefit would be, at least, two-fold, both in terms of harmonization (or, better, level playing field) of the corporate law enforcement mechanisms and of serving the purposes to which recent EU corporate legislation seems to be leading.\u0000Corporate Arbitration, Listed Companies, Intra-Corporate Disputes","PeriodicalId":11843,"journal":{"name":"European Company Law","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49195250","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Editorial: The Transformation of Corporate Governance","authors":"A.F.M. Dorresteijn","doi":"10.54648/eucl2022020","DOIUrl":"https://doi.org/10.54648/eucl2022020","url":null,"abstract":"","PeriodicalId":11843,"journal":{"name":"European Company Law","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41666019","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Different Legal Concepts of ‘Seat’ and ‘Registered Office’ in Cyprus Company Law","authors":"Thomas Papadopoulos","doi":"10.54648/eucl2022022","DOIUrl":"https://doi.org/10.54648/eucl2022022","url":null,"abstract":"This article analyses the different legal concepts of ‘seat’ and ‘registered office’ in Cyprus company law. The distinction between the concepts of ‘seat’ and ‘registered office’ in Cyprus company law is very important for the definition of corporate investor in respect of the Republic of Cyprus as a contracting party in several extra-EU Bilateral Investment Treaties (BITs). Although Cyprus is an incorporation theory jurisdiction with the ‘registered office’ as the connecting factor, the legal concept of ‘seat’ is also used in Cyprus company law with a different meaning than ‘registered office’. The Cyprus legislature uses explicitly the legal concept of ‘seat’ in Cyprus Companies Law (Chapter 113-Cap. 113) and is not restricted only to the legal concept of ‘registered office’. The difference between the legal concepts of ‘seat’ and ‘registered office’ in Cyprus company law is underpinned by an analysis of Cyprus Companies Law (Chapter 113-Cap. 113), where the notion of ‘seat’ appears with a different meaning than the notion of ‘registered office’, and by the distinguishing nature of Cyprus law as a mixed legal system, which combines characteristics of both common law and continental civil law. Continental law notions, such as ‘seat’, are compatible with the mixed legal system of Cyprus. This distinction between the concepts of ‘seat’ and ‘registered office’ is also supported by arguments deriving from the implementation of the European Company (Societas Europaea (SE)) Statute in Cyprus. The adoption in Cyprus company law of both legal concepts of ‘registered office’ and ‘seat’ but with different meanings is also compatible with the EU fundamental freedom of establishment (Articles 49–54 Treaty on the Functioning of the European Union (TFEU)).\u0000Bilateral Investment Treaties, Cyprus company law, registered office, seat","PeriodicalId":11843,"journal":{"name":"European Company Law","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47012787","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Corporate Sustainability Due Diligence in Groups of Companies","authors":"Karsten Engsig Sørensen","doi":"10.54648/eucl2022021","DOIUrl":"https://doi.org/10.54648/eucl2022021","url":null,"abstract":"The new proposal for a Corporate Sustainability Due Diligence Directive (CSDDD) will require that certain parent companies must conduct due diligence in their subsidiaries. To comply a parent company needs to determine which subsidiaries are covered by these duties, how to conduct this due diligence and finally how it may be enforced by stakeholders in the subsidiaries. An analysis of the proposal shows that the answer to these very relevant questions is not always straightforward nor are the solutions chosen in the proposal always the most optimal. Furthermore, it seems likely that the proposed directive – if adopted – will affect how groups are structured and how they operate.\u0000corporate groups, Corporate Sustainability Due Diligence Directive, parent and subsidiary companies","PeriodicalId":11843,"journal":{"name":"European Company Law","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44564972","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Benefit Legal Entities in Italy: An Overview","authors":"M. Speranzin","doi":"10.54648/eucl2022023","DOIUrl":"https://doi.org/10.54648/eucl2022023","url":null,"abstract":"Benefit legal entities combine the normal logic of profit-making with corporate sustainability. They pursue, in addition to the profit purpose, one or more aims of common benefit to be indicated in the articles of association relating to the corporate activity. An initial question is whether the pursuit of these joint objectives (i.e., profit and social responsibility) is reserved solely to benefit corporations and whether (and to which extent) non-benefit legal entities are excluded from pursuing these dual aims. As regards the notion of common benefit, its specification in the articles of association raises some significant legal issues. Firstly, it affects the assessment of the directors’ duty of care; they are required to balance the interests of the shareholders with those other interests provided for in the by-laws, and consequently such balance has potential implications on directors’ liability. Secondly, stakeholders adversely affected by the entity’s failure to achieve those common benefit aims must be protected, but it is difficult to assess how. Finally, setting out a corporation’s common benefit could trigger, under certain conditions, the exit right of dissenting shareholders following the acquisition or loss of the «benefit status».\u0000benefit legal entities, directors’ duties, exit right, legal entities pursuing common benefit purposes","PeriodicalId":11843,"journal":{"name":"European Company Law","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43860711","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Article 25 of the Proposal for a Directive on Corporate Sustainability Due Diligence: Enlightened Shareholder Value or Pluralist Approach?","authors":"Federica Agostini, Michele Corgatelli","doi":"10.54648/eucl2022016","DOIUrl":"https://doi.org/10.54648/eucl2022016","url":null,"abstract":"","PeriodicalId":11843,"journal":{"name":"European Company Law","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49555406","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Editorial: How the War Changed It All: A Story of One Ukrainian Corporate Law Researcher","authors":"Ivan Romashchenko","doi":"10.54648/eucl2022015","DOIUrl":"https://doi.org/10.54648/eucl2022015","url":null,"abstract":"","PeriodicalId":11843,"journal":{"name":"European Company Law","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41578787","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Book review: D’Alvia D. Mergers, Acquisitions and International Financial Regulation: Analysing Special Purpose Acquisition Companies. Routledge. 2021","authors":"A. Smoljaninov, Yochanan Shachmurove","doi":"10.54648/eucl2022019","DOIUrl":"https://doi.org/10.54648/eucl2022019","url":null,"abstract":"","PeriodicalId":11843,"journal":{"name":"European Company Law","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49193315","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Towards More Flexible Czech Corporate Law: Revised Corporations Act","authors":"Jane Lasak","doi":"10.54648/eucl2022018","DOIUrl":"https://doi.org/10.54648/eucl2022018","url":null,"abstract":"In 2014, the brand-new Civil Code and the Corporations Act took effect in the Czech Republic and introduced innovations to corporate governance of Czech companies which could be considered revolutionary for Czech corporate law. Six years later, Czech lawmakers decided to reflect practical experience with the new law and adopt the first major amendment to the Corporations Act, which took effect last year. This article outlines the most significant changes provided in the amendment (namely in respect of the one-tier management system in a jointstock company, new regulation of legal persons who are board members, new regulation of shareholders’ right to appoint/remove board members or new regulatory framework for shareholders’ say on fundamental transactions), as well as practical consequences that are associated with the new regulation.\u0000corporate governance, general meeting, the one-tier management system, fundamental transactions","PeriodicalId":11843,"journal":{"name":"European Company Law","volume":null,"pages":null},"PeriodicalIF":0.3,"publicationDate":"2022-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46180453","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}