196,605 research outputs found

    MATHIAS SIEMS, COMPARATIVE LAW (3RD ED.), CAMBRIDGE, CUP, 2022, PP. 570 (BOOK REVIEW)

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    Recensione al volume di M. Siems (terza edizione, marzo 2022

    Making the Case for a Rome V Regulation on the Law Applicable to Companies

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    There is significant legal variation and uncertainty in the conflict of laws rules applicable to companies in the EU. While the case law of the Court of Justice on the freedom of establishment has clarified some questions, it is evident that case law cannot provide for an adequate level of legal certainty. The main recommendation of this article is that private international company law in the EU should be harmonized. The article discusses the main challenges that a future regulation to this effect—called here ‘Rome V Regulation on the Law Applicable to Companies’—would have to overcome. Some of those are of a political nature: for instance, countries may fear that it may become easier for companies to evade domestic company law (eg, rules of employee co-determination), and there are specific considerations that concern companies established in third countries. Another challenge is that a future regulation on the law applicable to companies has to be consistent with existing EU conflict of laws rules as regards, for example, insolvency and tort law, while also complying with the freedom of establishment of the Treaty. It is the aim of this article to discuss these questions in detail, notably the general considerations for harmonisation in this field, a potential harmonization based on the ‘incorporation theory’, how it may be possible to overcome some contentious issues such as the definition of the lex societatis or the relationship between the lex societatis and other areas of law, and the prospects for future international harmonization

    Shareholder Protection Across Countries – Is the EU on the Right Track?

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    Anlegerschutz, EU-Recht, EU-Staaten, Investor protection, Community law, EU countries

    Legal origins: reconciling law and finance and comparative law

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    In the last few years law and finance scholars have 'discovered' the usefulness of comparative law. Their studies look at the quantifiable effect that legal rules and their enforcement have on financial development in different countries. Moreover, they link their results with the long- standing distinction between Civil Law and Common Law countries. Whether this revival of 'legal families' is a useful way forward is, however, a matter of debate. The following article challenges these studies and looks for characteristic features which are more precise and meaningful than the use of legal families as such.legal origins, legal families, legal traditions, numerical comparative law, law and finance, law and development, Civil Law, Common Law

    Why do businesses incorporate in other EU Member States? An empirical analysis of the role of conflict of laws rules

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    Research in law, political science and economics has taken a strong interest in the way companies strategically incorporate in foreign jurisdictions. However, the empirical research about corporate mobility in the EU has so far been limited in two respects: it has focused on the analysis of foreign companies in the UK and it has mainly been concerned with differences in the costs of incorporation such as minimum capital requirements. This paper aims to fill these gaps. It is the first paper that presents data on incorporations of foreign businesses in the commercial registers of each EU Member State. It is also the first one to assess the impact of differences in the conflict of laws rules applicable to companies as they reflect the case law of the Court of Justice on the freedom of establishment. It finds that countries which have a clear-cut version of the ‘incorporation theory’ attract more incorporations than countries which have retained elements of the ‘real seat theory’. The paper also discusses the policy implications from these findings for EU harmonisation in this field

    The Private International Law of Companies in Europe

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    Can firms freely choose their place for corporation and thus the applicable law? And is it possible that a firm can subsequently reincorporate in another country, with the effect of a change of the law applicable to this country? In the European Union, the answer to these questions has to consider the impact of the freedom of establishment and the corresponding case law of the Court of Justice. Beyond some general principles, there is, however, considerable diversity between the laws of Member States. Thus, this book aims to provide an up-to-date analysis of this important area of law for all Member States. It is based on a comprehensive study, produced for the European Commission, on the private international law of companies in the European Union

    The End of Comparative Law

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    Following the 1900 congress in Paris, the beginning of the 20th century saw comparative law emerge as a significant discipline. This paper suggests that the early 21st century is seeing the decline, or maybe even the 'end', of comparative law. In contrast to other claims which see the 21st century as the 'era of comparative law', there are at least four trends which give rise to pessimism: 'the disregard', 'the complexity', 'the simplicity', and 'the irrelevance' of comparative law. These phenomena will be explained in the body of this paper; the concluding part considers suggestions as to how to proceed further.Comparative law, numerical comparative law, legal culture, law and finance, World Bank, harmonisation, convergence, governance.

    Diversity in Shareholder Protection in Common Law Countries

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    Aktionär, Anlegerschutz, Common Law, Shareholders, Investor protection
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