1,720,972 research outputs found
Nature, meaning and implementation of executive fiduciary duties in the eu context.
No full textNature, Meaning and Implementation of Executive Fiduciary Duties in the EU Context The aim of this research is to reveal the historical nature, evolution and meaning of fiduciary relations institute, especially in the context of directors’ fiduciary duties. This work as well as explores the meaning of directors’ duties such as duty of loyalty and duty of care and their realization as fiduciary duties at some chosen European Union countries in order to identify the differences and similarities of these duties among indicated countries. This study seeks to analyze the harmonization and implementation of directors’ fiduciary duties in the European Union. The first part of the research starts with revealing of the fiducia institute rudiment and meaning in the Ancient Rome. In this paragraph fiduciary relations rudiments in common law or rather in the England jurisdiction are also reviewed, because the concept of fiduciary duties was justified by England’s courts. And finally, it explains how this institution was transplanted to continental’s law jurisdictions. The second part deals with the meaning of fiduciary duty. It discloses the purpose and content of directors’ fiduciary duties. The main propose of these duties is to ensure that director of the company would be loyal and would act in the interests of his company, not for his own or other third parties’ interests. The third part analyzes the content of director’s duty of loyalty and responds how this duty is realized in England, Germany, France, Finland and Lithuania. It reveals a slightly different approach of mentioned countries to the duty of loyalty. This part as well as examines the director’s duty of care as fiduciary duty and criticizes those countries’ legal doctrines and courts’ decisions by which duty of care is defined as fiduciary obligation. Whereas, a duty of care is unrelated to potential risks of director’s disloyalty, it should be interpreted as professional responsibility arising from tort law. This section concludes that insufficiently effective corporate governance and unequal status of the shareholders among European Union countries shows the need to harmonize directors’ fiduciary duties in all European Union. The fourth part deals with the regulation and meaning of fiduciary duties in European Union legislative and the initiatives of corporate governance harmonization in the context of directors’ fiduciary duties. It analyzes European Commission’s third proposal to adopt the Fifth company law Directive, as well as the draft of the European Model Company Act and these acts influence the further regulation of fiduciary duties throughout the European Union
Kreditoru pārstāvība korporatīvā bankrota procedūrās (Kopsavilkums)
No full textThe article focuses on representation of creditors in corporate bankruptcy proceedings. It discusses social and economic needs for creditor representation in corporate bankruptcy proceedings and why it shall be effective. Also, the authors analyse how creditors can participate and vote in meetings of creditors. This article focuses on electronic voting and virtual meetings of creditors. The authors assess what regulation of electronic voting and virtual meetings exist in various bankruptcy laws and how it shall be compatible with the main principles of bankruptcy law.Šajā rakstā par kreditoru pārstāvību korporatīvā bankrota procedūrās tiek apspriestas kreditora pārstāvības sociālās un ekonomiskās vajadzības korporatīvās bankrota procedūrās un to efektivitāte, kā arī tiek analizēts, kā kreditori var piedalīties un balsot kreditoru sapulcēs. Šajā rakstā tiek akcentēta elektroniskā balsošana un virtuālās kreditoru sanāksmes. Autori izvērtē, kāds regulējums attiecībā uz elektronisko kreditoru balsošanu un virtuālajām sanāksmēm pastāv dažādos likumos par bankrotu un kā tam jābūt saderīgam ar galvenajiem bankrota likuma principiem
Civil liability of the director for non commencement ofinsolvency proceedings in time
No full textCC BY-NC-NDThis article examines the issue of the application of the civil liability of
the director of a company for the failure to commence insolvency proceedings in time.
This form of liability is specific, relating to the breach of the obligation to initiate insolvency proceedings in time, and its purpose is to compensate the company’s creditors for
damage caused. Following the adoption of the Law on Insolvency of Legal Entities and
the reform of the insolvency process in Lithuania, the question arises as to the process in
which the liability of the director of a company for the failure to commence insolvency
(bankruptcy) proceedings in time should be examined. In order to answer these questions, this article examines the nature, legal regulations, and case law of this liability in
the United States, France, the United Kingdom, and Poland.
The analysis of the problems of the application of the civil liability of a director for
failure to commence insolvency proceedings in time has focused on the identification of unlawful actions as the main conditions of tort liability, which has triggered a lot of
questions in the case law. The purpose of this article is to reveal when the director of a
company has a duty to commence insolvency proceedings, as well as the circumstances
to be considered in deciding on the fulfillment of this duty
Problems of Recognition of Foreign Judgments and res judicata in European Union
Get PDFThe article examines the problematic aspects of recognition and enforcement of foreign judgments in the European Union in relation to the application of the public policy clause. Analysis of the content of public order also constitutes part of the article. It focuses on the EU law instruments which provide unequal conditions for non-recognition of foreign judgments. The authors discuss if inclusion in the CJEU of the limits on the interpretation of the public order clause is a sufficient guarantee to ensure proper application of the public order clause. Moreover, the authors analyse the principle of res judicata according the EU law
Changes of the Institutional Activities of Bailiffs
No full textThe article examines the changes in the institutional activity of bailiffs adopted in the Lithuanian legal system, related to the submission of enforcement documents on recovery and the impact of these changes to the efficiency of enforcement of decisions. The first part of the article analyzes the requirement to centralize the enforcement of executive documents against the debtor in the enforcement process. The article also examines the issue of restriction of the recoveree’s right to choose the bailiff executing the enforcement document and the impact of this restriction on the effectiveness of enforcement. Finally, the article discusses the issues of state responsibility related to the enforcement process and the new regulation
Representation of Creditors in Corporate Bankruptcy Proceedings
Get PDFThe article focuses on representation of creditors in corporate bankruptcy proceedings. It discusses social and economic needs for creditor representation in corporate bankruptcy proceedings and why it shall be effective. Also, the authors analyse how creditors can participate and vote in meetings of creditors. This article focuses on electronic voting and virtual meetings of creditors. The authors assess what regulation of electronic voting and virtual meetings exist in various bankruptcy laws and how it shall be compatible with the main principles of bankruptcy law
Violation of Public Order as a Ground for Non-Recognition of Foreign Court Judgments in Lithuanian Case Law
No full textThis article analyzes public order as a ground for the non-recognition of
foreign court judgments in the case-law of Lithuanian courts. Violation of public order
is often used by the parties to challenge the recognition of foreign court judgments.
Firstly, the authors seek to reveal the content of public order as a ground for the
non-recognition of foreign court judgments. The concept of public policy must be interpreted narrowly, thus ensuring the effectiveness of the process of the recognition and
enforcement of foreign judgments and equality of parties.
Secondly, the authors raise a debatable question regarding the validity of Lithuanian
case law interpreting international treaties concluded between the Republic of
Lithuania and other states, as far as it is related to public order as grounds for the
non-recognition of foreign judgments. The authors analyze whether these international
treaties concluded more than two decades ago are still compatible with the current
international standards.
Thirdly, this article presents the development of the application of the public policy
clause in separate areas of legal relations. Violations of public order are linked to fundamental
principles of law and human rights. Such case law is justified and meets the
requirements of a narrow interpretation of public order. The courts have found violations
of public policy in cases when the child was not heard in person by the court in
family cases. Also, courts have found violations of public policy in certain commercial
disputes.Šiame straipsnyje analizuojama viešoji tvarka, kaip atsisakymo pripažinti
ir leisti vykdyti užsienio valstybių teismų sprendimus pagrindas. Šios sąvokos
turinys teisės aktuose nenustatytas. Autoriai siekia atskleisti viešosios tvarkos išlygos
turinį Lietuvos teismų praktikoje, aiškinančioje nacionalines teisės normas ir tarptautines
sutartis bei Europos Sąjungos teisės aktus.
Straipsnyje keliamas klausimas dėl Lietuvos teismų praktikos, aiškinančios Lietuvos
Respublikos su užsienio valstybėmis sudarytas tarptautines sutartis dėl teisinės
pagalbos ir viešąją tvarką, pagrįstumo. Svarstoma dėl poreikio peržiūrėti prieš daugiau
nei du dešimtmečius sudarytas tarptautines sutartis, jose aiškiai vienu iš atsisakymo
pripažinti užsienio valstybės teismo sprendimą pagrindu įtvirtinant prašomo pripažinti
sprendimo prieštaravimą sprendimą pripažįstančiosios valstybės viešajai tvarkai. Be to, straipsnyje pateikiamos viešosios tvarkos taikymo tendencijos, sprendžiant
užsienio valstybių teismų sprendimų pripažinimo klausimus atskirose teisinių santykių
srityse (komercinėse bylose, šeimos bylose)
The Concept of a judgment under the Brussels Ibis Regulation
No full textThe Brussels Ibis Regulation (hereinafter – the Regulation) established the free movement of judgments and mutual trust in civil and commercial matters among Member States. However, the Regulation does not provide a clear answer as to whether all decisions of the courts of Member States fall within the scope of this regulation. Although the Regulation introduces the concept of a judgment, it provides only a list of exemplary court documents, which is not exhaustive. This article analyzes the criteria by which the decisions of Member States must be evaluated to ensure their enforceability is recognized across borders. The article also suggests one broad interpretation of the requirement for a court decision to be rendered in adversarial proceedings in order to also include default judgments, court orders and court settlements therein. The author submits that only such a wide interpretation meets the goals of Regulation and is aligned with the political will it enshrines. Finally, the article analyzes whether the decisions of Member States made based on the decisions of third States or in matters of their recognition fall within the scope of application of the Regulation. Keywords: the concept of judgment, Brussels Ibis Regulation, non-recognition and enforcement, court order, default judgment, court settlement, third country judgments
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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