This study on the potential of law to ensure the social responsibility of a company is an innovative and important study. It is a topical contribution to the sociology of market economies in transition. It is a unique effort to provide detailed practical guidance for the design of the company law in developing economies in general and the new Europe in particular. Christian Joerges, European University Institute Florence, Italy This book provides comprehensive analysis of the recent enlargement of the EU, shedding light on the rationale behind the EU s decisions to enlarge, examining the side effects these choices have on a range of EU policies and particularly on the effect of the Acquis on candidate countries. Emphasis is placed on the area of company law, which occupies a central part in a country s economic planning and therefore its commercial law. Past enlargements are thoroughly explained and the potential impact of the new political landscape in Europe in the wake of the popular rejection of the European Constitutional Treaty on future enlargements is evaluated. A comparative methodology for commercial law drafting in transition and developing economies is put forward and the book concludes with a complete draft of a model company law for transition (and developing) economies. The aim is to provide a template for discussion. This book will be of great interest to those interested in considering the influence that the prospect of EU membership has on transition countries in general, the emphasis being on laws vital to emerging market economies, particularly commercial and company law.

An examination of important aspects of the company laws of seven European countries.

This book is a practical tool for legal practitioners and in-house counsel advising clients on their foreign operations in the new EU. The book begins with an introduction to EU legislation, EU directives, and the enlargement of the European Union. Each chapter provides an overview of labor law, hiring, terms and conditions, termination, discrimination, and business transfers in the following countries: Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Malta, Poland, Romania, Slovakia, Slovenia, and Turkey. A table of statutes and EU legislation completes the book.

No one doubts any longer that sustainable development is a normative imperative. Yet there is unmistakably a great reluctance to acknowledge any legal basis upon which companies are obliged to forgo ‘shareholder value’ when such a policy clearly dilutes responsibility for company action in the face of continuing environmental degradation. Here is a book that boldly says: ‘Shareholder primacy’ is wrong. Such a narrow, short-term focus, the author shows, works against the achievement of the overarching societal goals of European law itself. The core role of EU company and securities law is to promote economic development, notably through the facilitation of market integration, while its contributory role is to further sustainable development through facilitation of the integration of economic and social development and environmental protection. There is a clear legal basis in European law to overturn the poorly substantiated theory of a ‘market for corporate control’ as a theoretical and ideological basis when enacting company law. With rigorous and persuasive research and analysis, this book demonstrates that: European companies should have legal obligations beyond the maximization of profit for shareholders; human and environmental interests may and should be engaged with in the realm of company law; and company law has a crucial role in furthering sustainable development. As a test case, the author offers an in-depth analysis of the Takeover Directive, showing that it neither promotes economic development nor furthers the integration of the economic, social and environmental interests that the principle of sustainable development requires. This book goes to the very core of the ongoing debate on the function and future of European company law. Surprisingly, it does not make an argument in favour of changing EU law, but shows that we can take a great leap forward from where we are. For this powerful insight – and the innumerable recognitions that support it – this book is a timely and exciting new resource for lawyers and academics in ‘both camps’: those on the activist side of the issue, and those with company or official policymaking responsibilities.

With the European Union striving to become the world's most competitive economy, the developments in the two closely interconnected areas of European corporate law and European company tax law are of utmost importance. This book focuses on the crucial issues raised by these developments, on their far-reaching implications and on the key challenges to the future legislative choices. The book illustrates the key developments in EU corporate law and EU company tax law, the EU planned initiatives in these areas, and - at a time when member states increasingly tend to use company law and company tax provisions to attract businesses and investments - it suggests how future developments can contribute to the undistorted functioning of the internal market and to the strategic 'Lisbon-objective'. The explanation of these legislative and case-law developments is of use to students and indicates new opportunities for business expansion strategies throughout the European Community. The book concludes that new optional, but attractive, EU company law vehicles and company tax regimes would be, in these two areas, the only legal and effective means towards an undistorted functioning of the internal market and towards the Lisbon-objective. This ultimately gives rise to a far-reaching challenge for all debates on the future patterns of European integration. Luca Cerioni introduces new themes for academic research and discussion subjects for decision-makers and at the same time, uniquely, makes these accessible to a much wider international public of students, businesses and practitioners.

Although some provisions of the Directive are obligatory for all Member States, two key provisions have been made optional: the non-frustration rule, which requires the board to obtain the prior authorization of the general meeting of shareholders before taking any action that could result in the frustration of the bid; and the breakthrough rule, restricting significant transfer and voting rights during the time allowed for acceptance of the bid. Other relevant legal issues covered in the course of the analysis include the following: A { the right of establishment as a right of legal persons; A { vertical vs.

The book provides students of European company law courses, scholars and practitioners with an overview. Although company law remains mainly regulated at the level of national laws, it has become important to obtain a systematic view of the main directives in the field of company law, the EU Court of Justice’s jurisprudence, the European Model Company Act and the state of implementation of these directives in the member states of the Union. The book therefore contains, in addition to the illustration of the law laid down by EU legislative bodies and the related soft laws, detailed references to the most important domestic legislations and case laws, in order to make them known and usable as much as possible. Moreover, the book allows identifying the most relevant current legislative trends and the main historical reasons for divergences.

A collection of essays examining the conflict between EU law and company law, covering a broad range of topics including takeovers, mergers and restructuring, sovereign wealth funds, and proportionality of ownership and control.

Now that Cyprus, Malta and eight new countries from East and Central Europe have successfully joined the EU, their European neighbours and business partners in the rest of the world are watching closely to see what sustainable investment opportunities may develop. This new title looks at how the accession process has affected the economic prospects of the new member states and the enlarged EU as a whole. It focuses on the opportunities for foreign investors in each of the 10 new members, comparing their economic environment and business conditions with those of the 15 longer-established member states.

This book explores the reactions to Europeanization and globalization in times of economic distress, including the transformation of European values in national legal cultures. The authors explore how European values, tradition and new legal challenges interconnect and dictate the paths of transition between old and new Europe. The first chapter starts with a question: can Roman Legal Tradition play a role of identity factor towards a New Europe? Can it be considered as a general value identifying new Europe, built on a minimum core of principles – persona, dominum, obligation, contract and inheritance – composing the whole European private law tradition? Subsequent chapters attempt to provide possible responses to the question: what is Europe today? The answers diverge, depending on the research area. The inherent dichotomy of human rights protection in Europe and the concept of ‘one law, one court’ are investigated in the second chapter, whereas the third chapter focuses on asylum and the interrelation and interdependence of the Court of Justice of the EU and the European Court of Human Rights. The next three chapters concentrate on matters of equal treatment and non-discrimination. The first contribution in this part reflects on the crisis and methodological and conceptual issues faced by modern anti-discrimination law. It is followed by a specific analysis of the empowerment of women or gender-balancing in company boards. The third contribution reveals the impact of the Croatian anti-discrimination law on private law relations. The next chapter deals with the issue of social rights in Croatia and the method of their regulation in the context of the new European values. The immense challenges posed by the market integration imperative and democratic transition have brought about different reactions in the national legal systems and legal cultures of both old and new Member States. As such, Europe has effectively been reunited, but what about the convergence of national legal cultures? This is the focal point of the remaining chapters, which focus on various issues, from internal market, competition law, consumer welfare, liberalization of network industries to the EU capital market. The magnitude of EU activity in these areas offers conclusive evidence that old and new paradigms are evolving and shaping the future of the EU.