This discussion of the Cross-Border Merger Directive and its implementing legislation in each Member State of the European Union and the European Economic Area provides companies and their advisors with useful insight into the legal framework applicable to, and the tax treatment of, cross-border mergers throughout the European Economic Area. Analysis of the Community rules laid down in the Cross-Border Merger Directive and the Community rules on the tax treatment of cross-border mergers is complemented by chapters on the implementing legislation in each Member State, prepared in accordance with a common format and contributed by a practitioner from each state. Annexes contain the Cross-Border Merger Directive (Annex I), the Parent-Subsidiary Directive (Annex II) and a list of the implementing legislation in each Member State (Annex III).

A detailed and authoritative practitioner work on mergers and acquisitions of companies in the US and UK, this will be an important reference for lawyers on both sides of the Atlantic (including all major companies with dealings in those jurisdictions). It covers law and practice in the US and UK in equal detail: the US chapters cover both federal and key state regulatory regimes; UK chapters include coverage of the City Code and developments in the European Union.

Commercial Law comprehensively meets the needs of undergraduates studying the law relating to agency, the sale of goods and consumer credit and the detailed, critical nature of the book means that it will also be invaluable for postgraduate courses. It will be equally indispensible for practitioners seeking a detailed work of reference. Commercial Law balances a readable exposition of principle with an explanation of the policy underpinning the rules of commercial law. The law is traced from its beginnings to the present day and so the reader gains a satisfying contextual overview of the development of the rules and their changing form and function. Moreover, the law is subjected to thorough analysis, evaluation and criticism, and there is much reference to material from other jurisdictions, thereby giving the reader an informed coherent view of the law.

The understanding of Article 86 (formerly Article 90) of the EC Treaty is vital to any competition lawyer working in Europe. Writing with first-hand experience of dealing with Article 86 cases at DG IV, the author provides detailed examination of this Article and the law concerning exclusive rights and State monopolies.;With analysis of the relevant case-law, attention is paid to all the key areas including: the definition of "exclusive rights" and "economic activities" the remedial possibilities offered by the often neglected Article 31(formerly Article 37), the application of Article 86(1) in conjunction with the competition rules (Article 82 (formerly Article 86)), proportionality in the context of Article 86(2) and decisions and directives under Article 86(3) and their relationship with harmonization directives.;The text offers practical insights and intelligent solutions to many of the problems posed by the applications of these rules.

In EC Company Law Vanessa Edwards makes a detailed analysis of all the adopted company law and securities directives. She illuminates their historical context, scope, substantive effect, interpretation by the European Court of Justice and national implementation. This book also contains a thorough examination of the scope of companies freedom of establishment, reviewing in depth the case law of the Court of Justice on Article 52 of the EC Treaty in so far as it applies to corporate entities.

Provides the answers to all the questions that can arise on the formation, operation and dissolution of Partnerships, LPs and LLPs as well as the answers to all questions that can arise in disputes between partners, ex-partners and outsiders. Fully revised and updated this new edition will include coverage of: - The introduction of the Private Fund Limited Partnership (PFLP) in 2017 - Application of discrimination law in the context of partnerships/LLPs: Seldon v Clarkson, Wright and Jakes; Tiffin v Lester Aldridge LLP; Bates v van Winklehof - Interpretation of partnership agreements, what amount to partnership assets and how they should be valued, in the context of the retirement or buy-out of a former partner: Drake v Harvey; Ham v Ham; Ham v Bell - The role, if any, of the doctrine of repudiation in the context of partnerships (Golstein v Bishop) and LLPs (Flanagan v Liontrust Management LLP) - What nature of "business" may constitute a partnership (Bhatti v HMRC) - Impact of changes made to the insolvency regime (including the Insolvency Rules 2016) on insolvency of partnerships and LLPs

This book provides a logically ordered guide to the substantive law and practice relating to corporate insolvency as it currently stands. Procedures for commencing and conducting various types of insolvency proceedings are set out alongside the latest legislation (the Insolvency Act 1986, the Insolvency Rules 1986 and the two Insolvency Acts of 1994) and any relevant case law which supports, modifies or interprets that legislation

The second edition of this important work provides an invaluable reference guide for legal practitioners advising on matters relating to company shareholders. Fully revised and updated, it addresses the major legal developments since the first edition, including key cases in relation to the expropriation of minority shareholders such as Charterhouse Capital Ltd, re Coroin, and Assenagon Asset Management SA v Irish Bank Resolution Corp Ltd. There is also discussion of cases relating to the commencement of derivative proceedings such as Kleanthous v Paphitis. Developments relating to creditors' and members' schemes are also covered, and the limitations of contractual control are considered throughout. New chapters have been added on nominee directors and offshore jurisdictions. The chapter on responding to derivative claims has been extensively updated to take account of recent cases which consider the statutory procedure for commencing derivative proceedings under the Companies Act 2006. The Law of Majority Shareholder Power continues to be the go-to work for company lawyers and majority shareholders.

This book examines reforms in company and takeover law, crucial to modern business and economics. Reform activity is underway in the UK, Germany, France, Italy, and most other member States of the European Union. In addition, the EU is developing its own rules and reform plans. The European 13th directive was enacted in December 2003- this requires modifications of member State takeover law. The European Commission has outlined the company law action plan which will lead to important directives from 2004 to 2010. This book is the first to deal comprehensively with both the 13th directive and the EU company law action plan, providing commentary on the action plan, and critically assessing what the future may hold. The takeover law provisions in the 13th directive, including the 'break-through' rule and the controversial level playing field for takeover activities amongst European member states and between them and the United States are examined. The contributions also address a wide range of topical issues including corporate disclosure, board structure, the role of non-executive and supervisory directors, remuneration of directors, responsibility of the management and the board, personal liability of board members, auditors, and conflicts of interest. The company law action plan and the two reports of the High Level Group of Company Law Experts upon which the plan was based are reproduced in full in a useful annex.

The financial crisis has brought about a revival of state protectionism across the globe. Most Western leaders have made a virtue of big government and state intervention; bail-outs and Sovereign Wealth Funds have been among the first responses to the economic contraction. Company law rules are one of the instruments frequently used to restrict or to discourage integration or to deter foreign investment. Examples for the new protectionism can be seen in a wide range of legislative and regulatory measures, for instance state measures preventing foreign takeovers, 'golden shares' or laws on foreign direct investment targeting Sovereign Wealth Funds, mainly from Asia.
This book presents timely research by a number of company law and EU law experts into this field of law. The chapters cover a broad range of topics, spanning from takeovers/mergers over the one share-one vote debate through to the foreclosure of markets against Sovereign Wealth Funds.

The typical British publicly traded company has widely dispersed share ownership and is run by professionally trained managers who collectively own an insufficiently large percentage of shares to dictate the outcome when shareholders vote. This separation of ownership and control has not only dictated the tenor of corporate governance debate in Britain but serves to distinguish the UK from most other countries. Existing theories fail to account adequately for arrangements in the UK. Corporate Ownership and Control accordingly seeks to explain why ownership became divorced from control in major British companies.
The book is organized by reference to the 'sell side', which encompasses the factors that might prompt those owning large blocks of shares to exit or accept dilution of their stake, and the 'buy side', which involves factors that motivate investors to buy equities and deter the new shareholders from themselves exercising control. The book's approach is strongly historical in orientation, as it examines how matters evolved from the 17th century right through to today. While a modern-style divorce of ownership and control can be traced back at least as far as mid-19th century railways, the 'outsider/arms-length' system of ownership and control that currently characterizes British corporate governance did not crystallize until the middle of the 20th century. The book brings the story right up to date by showing current arrangements are likely to be durable. Correspondingly, the insights the book offers should remain salient for some time to come.

This monograph provides a comprehensive analysis of corporate opportunities doctrines from a comparative perspective. It looks at both common law and civil law rules and relies to a large extent on a law and economics approach. This book broadens the conventional view on corporate opportunities, a vital step in light of the adoption of corporate opportunities rules in civil law jurisdictions and in light of investors' ever-changing strategies. This approach considers institutional complementarities and especially industrial complementarities. The book thus explores several jurisdictions and their economic and industrial environments, whilst also assessing the impact of globalisation onto legal reform. Furthermore, it analyses the problems related to the application of corporate opportunities rules to cross-border venture capital. In normative terms, the book advances one main stance, articulated in three points: first, it proposes different sanctions for undisclosed and disclosed misappropriations, supporting the core idea that sanctions should be set against disclosure and not authorisation. Secondly, it advances the idea that sanctions against undisclosed misappropriations should be more severe than the ones presently applied. Thirdly, it considers the possibility of a more flexible treatment of disclosed misappropriations. This study is positioned at the intersection of several fields, providing a lens into a much broader range of dynamics that will be of interest to a varied international readership, and offering a window into the broader institutional dynamics at work in centres of innovation (eg Silicon Valley and industrial districts in other jurisdictions). It is rooted in law and economics, but the emphasis is placed on how corporate opportunities rules fit within a broader set of institutional dynamics that affect innovation, industrial efficiency, and economic competitiveness.

This new Blackstone's Guide provides the complete text of the Companies Act 2006, together with a clear explanation of the legislation and its impact. The Companies Act is a major piece of legislation - comprising 1300 sections and 16 schedules. It represents an attempt to reform company law for the 21st century in accordance with the Government's stated objectives of encouraging small companies, promoting shareholder involvement and fostering a long term investment culture. It puts whole areas of company law which are the product of the common law such as directors' duties and derivative actions on a statutory basis for the first time, and implements EU Directives on Takeovers and Transparency Obligations. The 2006 Act almost completely consolidates companies legislation in one place with only a few minor provisions remaining in the 1985 Act. This Guide provides a clear analysis of the new legislation, explaining both its genesis and likely effect. The authors adopt a topic-based approach, focussing on the most important changes and developments for both private and public companies. The Blackstone's Guide Series delivers concise and accessible books covering the latest legislative changes and amendments. Published soon after enactment, they offer timely and expert commentary on the meaning and effects of the legislation, plus a copy of the Act itself. The Guides are a cost-effective solution to key information needs and are the perfect companion for any practitioner needing to get up to speed with the latest changes.

This supplement to the second edition of Insolvency in Private International Law covers the key developments in case law and legislation in the subject up to October 2006, and is an essential purchase for all who have already bought the main work. It includes the full text of the Cross-Border Insolvency Regulations 2006, along with commentary on the regulations. The supplement also includes the text of Council Regulation 694/2006, amending EC Regulation 1346/2000 on insolvency proceedings, and references to key developments in case law, including Eurofood IFSC Ltd, Daisytek ISA, and Cambridge Gas Transport Corp v Official Committe of Unsecured Creditors of Navigator Holdings plc. The commentary on case developments links back to the relevant paragraph in the main work. The main work deals with the problems generated by those cases of insolvency (either of an individual or of a company) where the presence of contacts with more than one system of law brings into operation the principles and methods of private international law (also known as conflict of laws). Part I of the main work is mainly devoted to an examination of the body of rules and practice that has evolved in England during the course of the past two-and-a-half centuries, and surveys the current state of the law derived from a blend of statutory and case authorities. Contrasting approaches under a selection of foreign systems - principally Australia, Canada, France and the USA - are examined by way of comparison. There are up to date accounts of the circumstances under which insolvency proceedings can be opened in respect of debtors which are not primarily based in England, and of the grounds on which English courts will recognise foreign insolvency proceedings and give assistance to the foreign representative of the debtor's estate. Part II of the main work explores the progress towards the creation of international arrangements to co-ordinate and rationalise the conduct of insolvency proceedings which have cross-border features, particularly where the debtor is capable of being subjected to concurrent proceedings in two or more jurisdictions. Central to the developments described in detail in this Part are the EC Regulation on Insolvency Proceedings, in force throughout the UK since May 2002, and the UNCITRAL Model Law on Cross-Border Insolvency, which was due for enactment in the UK. The main work of the second edition and the supplement are also available as a set (ISBN 9780199214952: GBP160)

This book offers a comprehensive examination of the issues surrounding corporate compliance. Should corporations comply with the spirit or the letter of the law? What role does compliance play in a capitalist market economy? Why is it that otherwise law-abiding citizens are willing to implement corporate compliance strategies that are seemingly at odds with their personal values? Dr Donovan responds to these questions and more, providing a persuasive argument for the legitimate role of spirited compliance within a market economy. In doing so, she employs the lens of classical liberal ideology, challenging the widespread view that technical compliance is simply 'capitalism.' In an examination that has relevance beyond the compliance arena, the author also explores how the architecture of the firm facilitates the often atypical compliance decisions that individuals make when acting within a corporate setting. The book draws on social psychology to offer important insights into how the often-elusive goal of corporate behavioural change can be achieved, for the benefit of both the market and society as a whole. Joint runner-up of the 2021 SLS Peter Birks Prize for Outstanding Legal Scholarship.

The downturn in the oil commodity price starting in 2014 had a chilling effect on oil and gas M&A. However, recent price stabilisation has improved the outlook for M&A activity, making a second edition of this book most timely. A feature of the M&A industry has always been its variety of participants, ranging from integrated energy conglomerates to entrepreneurial frontier explorers. New entrants include state-owned oil companies, financial investors, diversifying service contractors and oil traders. With the growth of specialist stock markets, junior and independent oil companies are better able to raise acquisition finance than ever before, and companies specialising in end-of-life reservoirs are filling the spaces left as oil majors go in search of new opportunities. Transaction types are also diverse and are completed using a variety of different deal structures. As well as providing chapters on each type of acquisition method, this book also includes an analysis of the underlying structuring decisions. In addition, this practical guide covers a number of ancillary areas, including valuations, financing, tax and accounting. Decommissioning liability is also considered in an M&A context. A number of new chapters are also featured, covering topics such as competition law, environmental law and dealing with material adverse changes. This comprehensive new edition will prove an essential resource to anyone involved in the upstream industry M&A process including lawyers, bankers, financiers, business executives, accountants and tax advisers.

In the 21st century, one of the most noteworthy changes in the human rights debate relates to the increased recognition of the link between business and human rights. This book is an attempt to explore this relationship and also to look into the obligations of the state and transnational corporations in the promotion of human rights. Business and Human Rights discusses how globalization has affected individuals in the enjoyment of their human rights in relation to the activities of corporations. The book addresses what additional steps the states should take to protect against human rights abuses by business enterprises that are owned or controlled by the state. Moreover, it covers, in depth, the role and contribution of the United Nations in business and human rights. The book includes several real-life case studies to help the readers understand the topics discussed.

Law of Business Contracts in India brings together in-depth, wide-ranging articles by legal experts in the area of Business Contracts. It focuses on the modern forms of business contracts and exposits on the historical evolution, judicial interpretation and future applications of such contracts. The articles bridge the gap between the theoretical understanding of contract law and its practical orientation, need, relevance and challenges. The key features of the volume are: * Comprehensive coverage of modern laws on contract formation. * Discussion on the relevance of international laws in the global business context. * Delineation of the modern style, practice and challenges confronting new forms of contracts. * Description of the application of contract law to special contracts. * Discourse on the issues of international taxation and multinational contractual jurisdiction. * Research-based analysis of the common law approach with the Indian perspective on contract law application. The compilation views modern business contracts in a wide variety of commercial segments-from infrastructure to consortium loans, from joint ventures to outsourcing. It will serve as an excellent reference material for students of law, especially commercial law and business contracts. It will also be an exhaustive guide for lawyers and entrepreneurs.

Das Verhaltnis von Verbraucherschutz und Gesellschaftsrecht spielt in jungerer Zeit insbesondere im Zusammenhang mit der Beteiligung an geschlossenen Fonds eine erhebliche Rolle. Angesichts des oft unbefriedigenden wirtschaftlichen Verlaufs erklaren Anleger immer haufiger den Widerruf nach Hausturwiderrufs- oder Verbraucherkreditrecht. Kontrovers wird auch in der Rechtsprechung insbesondere die Frage beurteilt, inwieweit die Regeln uber die fehlerhafte Gesellschaft einer Ruckabwicklung nach Rucktrittsrecht vorgehen mit der Folge, dass der Anleger anstelle seiner Einlage lediglich das Auseinandersetzungsguthaben beanspruchen kann. Einer umfassenden Interessenanalyse, die auch die Rechtslage bei der stillen Gesellschaft einbezieht, schliesst sich die Eroerterung der Konsequenzen fur konkurrierende Schadensersatzanspruche an. Abgerundet werden die Ausfuhrungen, die jeweils in konkrete Loesungsvorschlage munden, durch einen rechtspolitischen Ausblick.