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dc.contributor.author
Droungelidou, Maria
en
dc.date.accessioned
2015-06-29T15:10:16Z
dc.date.available
2015-09-27T05:58:13Z
dc.date.issued
2015-06-29
dc.identifier.uri
https://repository.ihu.edu.gr//xmlui/handle/11544/566
dc.rights
Default License
dc.title
A Critical Assessment Of The Tenth Compamy Law Directive (Directive 2005/56/EC Of The European Parliament And Of The Council) On Cross-Borders Mergers
en
heal.type
masterThesis
heal.keywordURI.LCSH
Tenth Company Law Directive
heal.keywordURI.LCSH
cross-border mergers
heal.keywordURI.LCSH
freedom of establishment
heal.keywordURI.LCSH
corporate mobility
heal.keywordURI.LCSH
single market
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
2015-02
heal.bibliographicCitation
Droungelidou Maria , 2015, A Critical Assessment Of The Tenth Compamy Law Directive (Directive 2005/56/EC Of The European Parliament And Of The Council)On Cross-Borders Mergers ,Master's Dissertation, International Hellenic University
en
heal.abstract
This dissertation was written as part of the LLM in “Transnational and European Commercial Law and Alternative Dispute Resolution” at the International Hellenic University. It discusses the legal regime of the 2005/56 Directive on cross-border mergers of limited liability companies. This Directive is a fundamental European Union legal instrument enacted with a view to facilitate corporate mobility of companies situated in different Member States of the European Union and the European Economic Area and, subsequently, to promote the single market completion, by eliminating national borders implying restrictions to freedom of establishment of companies. Accordingly, the aim of this paper is to provide a thorough examination of the legal framework of this crucial legislative initiative and to assess it in a clearly documented way. In that respect, in the first part, we start with an introductory analysis referring to historical background and, then, we proceed to more specific issues, defining the basic legal concepts and rules laid down in the Directive in question. In the second part, we try to address an overall assessment of the Directive legal regime, outlining its advantages and disadvantages. It is argued that only a profound understanding of the relationship between the respective Directive and other European regulatory approaches could reveal the former’s benefits and drawbacks, in order to attain a successive assessment of that; therefore, an investigation of such a relationship is provided in the third part; note, emphasis is given to the relationship between the Directive at issue and the ECJ case law on cross-border mergers. The fourth part deals with the author’s opinion, as well as with some likely recommendations for a possible improvement of the Directive that are deemed helpful. After that, we scrutinize the incorporation of this directive into Greek company law and designate some assumptions. Finally, we conclude our investigation with a reference to some later amendments of the Directive that have already taken place, as well as to some new initiatives proposed by the new European Commission, so as to come to a conclusion-hope regarding the Directive’s future course.
en
heal.tableOfContents
ABSTRACT........................................................................................................... ACKNOWLEDGEMENTS.................................................................................. LIST OF ABBREVIATIONS............................................................................... TABLE OF CONTENTS...................................................................................... I. INTRODUCTION.......................................................................................1 II. THE EUROPEAN DIRECTIVE ON CROSS-BORDER MERGERS. LEGAL ANALYSIS.............................................................................................2 A. Historical Background.....................................................................................2 B. Features of the Directive..................................................................................5 a) Scope.................................................................................................................5 b) Legal Basis........................................................................................................6 c) Regulatory Model-basic principle......................................................................7 d) Aim......................................................................................................................8 e) Procedure...........................................................................................................8 (1) Pre-merger Phase..............................................................................................9 1.1. Common Draft Terms.......................................................................................9 1.2. Management Report.........................................................................................10 1.3.Independent Experts (IE) Report.......................................................................10 1.4. Approval of the Merger.....................................................................................11 1. 5. Employee Participation....................................................................................12 l. 5’. Employee involvement regime under SE Directive...........................................14 1.6. Scrutiny/Verification of the Legality of the Merger............................................16 (2)Merger Phase.........................................................................................................17. 2.1. Entry into Effect of the Merger............................................................................17 2.2. Protection of Shareholders, Creditors, Minority...................................................17 2.2. a) creditor protection............................................................................................18 2.2.b) minority shareholders protection.......................................................................19 C. Results of the Directive............................................................................................20 A CRITICAL ASSESSMENT OF THE TENTH COMPANY LAW DIRECTIVE ON CROSS-BORDER MERGERS [7] III. ASSESSMENT: REFLECTIONS ON THE EUROPEAN DIRECTIVE ON CROSS-BORDER MERGERS.............................................................................21 A. Advantages............................................................................................................21 B. Disadvantages......................................................................................................26 IV. RELATIONSHIP/COMPARISON WITH OTHER EU REGULATORY APPROACHES TO CROSS-BORDER MERGERS..........................................30 A. Cross-border Mergers Directive and Domestic Mergers Directive......................31 B. Cross-border Mergers Directive and SE Statute...................................................32 C. Cross-border Mergers Directive and SEVIC.........................................................35 a) SEVIC factual background......................................................................................36 b) ECJ ruling.................................................................................................................36 c) General Remarks......................................................................................................37 d) The relationship between SEVIC and Cross-border Mergers Directive....................38. V. AUTHOR’S OPINION AND RECOMMENDATIONS.......................................40 A. Author’s opinion.........................................................................................................41 B. Recommendations for CBMD improvement................................................................43 VI. TRANSPOSITION OF THE EUROPEAN DIRECTIVE ON CROSS-BORDER MERGERS INTO GREEK COMPANY LAW -- The Greek situation.......................................................................................................44 A. Greek situation...........................................................................................................45 a) Scope .........................................................................................................................45 b) Essential Provisions...................................................................................................45 c) Employee, Creditor, Minority Shareholders protection..............................................46 B. General Comment.......................................................................................................47 VII. AMENDMENTS OF THE EUROPEAN DIRECTIVE ON CROSS-BORDER MERGERS AND NEW INITIATIVES...................................................................48 8 VIII. CONCLUSION...............................................................................................51 BIBLIOGRAPHY.....................................................................................................53
en
heal.advisorName
Papadopoulos, Thomas
en
heal.committeeMemberName
Papadopoulos, Thomas
en
heal.committeeMemberName
Eleutheriadis, Nikolaos
en
heal.committeeMemberName
Giovannopoulos, Ass. Prof. Rigas
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
70
heal.fullTextAvailability
false


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