The concept of the ‘interests’ of a group of companies in the studies of European expert bodies (EMCA, FECG, ICLEG) Cover Image

Koncepcje interesu grupy spółek w pracach europejskich gremiów eksperckich (EMCA, FECG, ICLEG)
The concept of the ‘interests’ of a group of companies in the studies of European expert bodies (EMCA, FECG, ICLEG)

Author(s): Krzysztof Oplustil
Subject(s): Law on Economics, EU-Legislation
Published by: Uniwersytet Adama Mickiewicza
Keywords: corporate group law; group of companies; subsidiary; parent company; European company law; interests of a group of companies;

Summary/Abstract: Corporate group law has not been comprehensively regulated in EU law, but it is nevertheless the subject of numerous studies prepared by various expert bodies for legislative purposes. These studies are aimed at creating a legal framework for the concept of the common interests of a group of companies, and at enabling managers of companies belonging to the group to make business decisions in the interests of the group, on the basis of recommendations of parent companies motivated by the interests of the group. Modern corporate group law should take the form of an ‘enabling law,’ but should not disregard the requirement that the interests of stakeholders and minority shareholders of the companies belonging to a group be protected. The initiatives undertaken by the experts resulted in a proposal of the European Model Company Act (EMCA), a proposal of the EU regime for the management of cross-border company groups developed by the Forum Europaeum on Company Groups (FECG), and a report of ICLEG (an advisory group of the European Commission) regarding the need to recognize the interests of a group of companies in EU law. These documents, along with the assumptions of the French Rozenblum doctrine, may serve as an inspiration for EU legislation, which should primarily consist in recognizing the concept of the interests of the group of companies and legitimizing the actions taken by the managers of subsidiaries on the basis of these interests

  • Issue Year: 81/2019
  • Issue No: 1
  • Page Range: 5-25
  • Page Count: 21
  • Language: Polish