Abstract
The substantive weaknesses discussed in other chapters of this book point to a lack of clarity concerning the nature and extent of shareholders’ duties, and ambiguous legal provision for the domestic enforcement of such obligations as do exist. The weaknesses in national substantive laws are exacerbated by the present state of transnational harmonisation. There is a lack of focused attention on specific problems arising from the corporate form, particularly insofar as the negative externalities of limited liability and separate legal personality are concerned. Coupled with intrinsic risks and costs of transnational litigation, this renders cross-border enforcement a costly and uncertain route for the attainment of justice. Essentially, the law fails to address the full spectrum of relationships arising from the corporate form in a coherent fashion, or to view significant market failures as much more than an ‘unfortunate wrinkle in the economic perfection of the law’.
Original language | English |
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Title of host publication | Enforcing Shareholders' Duties |
Editors | Hanne S. Birkmose, Konstantinos Sergakis |
Place of Publication | Cheltenham |
Publisher | Edward Elgar Publishing Ltd. |
Chapter | 13 |
Pages | 259-280 |
Number of pages | 22 |
ISBN (Electronic) | 9781788114875 |
ISBN (Print) | 9781788114868 |
DOIs | |
Publication status | Published - Feb 2019 |
Publication series
Name | Elgar Financial Law series |
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Publisher | Edward Elgar Publishing |
Keywords
- EU
- Free movement
- Legal persons
- Shareholders
- Company Law
- Enforcement
- Private International Law
- jurisdictional disputes
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Dive into the research topics of 'Jurisdictional Barriers to Enforcement'. Together they form a unique fingerprint.Profiles
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Justin Borg Barthet
- School of Law, Law - Personal Chair
- School of Law, Centre for Private International Law
Person: Academic