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dc.contributor.author
Chatzigiannakos, Zisis
en
dc.date.accessioned
2015-06-11T11:00:48Z
dc.date.available
2015-09-27T05:57:03Z
dc.date.issued
2015-06-11
dc.identifier.uri
https://repository.ihu.edu.gr//xmlui/handle/11544/267
dc.rights
Default License
dc.title
Golden shares and the jurisprudence of the European Court of Justice
en
heal.type
masterThesis
heal.keyword
Stock ownership--Law and legislation
en
heal.keyword
Government business enterprises--Law and legislation
en
heal.keyword
Privatization--Law and legislation
en
heal.keyword
Dissertations, Academic
en
heal.language
en
heal.access
free
el
heal.license
http://creativecommons.org/licenses/by-nc/4.0
heal.recordProvider
School of Economics, Business Administration and Legal Studies, LLM in Transnational and European Commercial Law, Mediation, Arbitration and Energy Law
heal.publicationDate
2013-12-21
heal.bibliographicCitation
Chatzigiannakos Zisis, 2013 ,Golden shares and the jurisprudence of the European Court of Justice ,Master's Disseration, International Hellenic University
en
heal.abstract
In the first Chapter I made some introductory remarks on Golden Shares (emergence, definition, types, rationale and legal forms), while in the second one I referred the forms of Golden Shares adopted within the EU and divided them in specific categories depending on their structure. In the third Chapter I analyzed the legal framework within which the ECJ resolved the legal issues arisen from Golden Shares with an extensive reference to the Communication of the Commission on Certain Legal Aspects Concerning Intra EU Investment, the 88/361 EEC Directive, the Free Movement of Capital, the Freedom of Establishment, the Public Interest Exception and the Proportionality Principle. In the fourth Chapter I underlined the economic impacts of Golden Shares with a specific reference to the factors used in the assessment of the Oxera. In the fifth Chapter I presented the complexities of the so-called VW case, which was a decision of fundamental importance for the Golden Shares regime concluding with certain comments on all aspects of the case (both legal and economic). In the sixth Chapter I remarked the tensions between the Takeover Directive and Golden Shares, since the protection of “national” companies from hostile takeovers was the predominant reason for the issuance of Golden Shares. In the seventh Chapter I pointed out my overall comments on all dimensions of the ECJ’s case law in the respective issue, while in the last one I made some proposals for the legal and genuine future of Golden Shares, thirteen years after the issuance of thefirstdecision.
en
heal.tableOfContents
I. Introductory Remarks............................................................................................................. 8
II. Privatizations and The Forms Of Golden Shares ................................................................ 11
III. Legal Framework .............................................................................................................. 14
i. Communication of the Commission On Certain Legal Aspects Concerning Intra EU Investment and the 88/361/EEC Directive .......................................................................... 14
ii. Free Movement of Capital............................................................................................... 19
iii. Freedom of Establishment .............................................................................................. 22 iv. Public Interest Exception................................................................................................ 27
v. The Principle of Proportionality ...................................................................................... 29
IV. Economic Impact (Oxera Report) ..................................................................................... 32
V. C-112/05: Commission of European Communities v Federal Republic of Germany (Volkswagen Case) .................................................................................................................. 34
i. Breach of the Free Movement of Capital ......................................................................... 34
ii. Breach of the Freedom of Establishment ........................................................................ 39
iii. Opinion of the Advocate General .................................................................................. 39 iv. Remarks .......................................................................................................................... 40
VI. Golden Shares and Restrictions on Takeovers .................................................................. 51
VII. Conclusive Comments ..................................................................................................... 55
VIII. Remarks for the Future ................................................................................................... 61
i. Failure of protectionism ................................................................................................... 61
ii. States in the markets ........................................................................................................ 63
iii. Takeover regime and the breakthrough rule .................................................................. 65
iv. Alternatives to Golden Shares ........................................................................................ 67
References ............................................................................................................................... 69
en
heal.advisorName
Papadopoulos, Thomas
en
heal.committeeMemberName
Papadopoulos, Thomas
en
heal.committeeMemberName
Cuniberti, Gilles
en
heal.committeeMemberName
Eleutheriadis, N.
en
heal.academicPublisher
School of Economic and Business Administration,LL.M in Transnational and European Commercial Law and Alternative Dispute resolutions
en
heal.academicPublisherID
ihu
heal.numberOfPages
76
heal.fullTextAvailability
true
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