The role of choice of law rules in shaping free movement of companies / Miroslawa Myszke-Nowakowska.
2014
KJE2448 .M97 2014 (Map It)
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Details
Title
The role of choice of law rules in shaping free movement of companies / Miroslawa Myszke-Nowakowska.
Published
Cambridge, United Kingdom : Intersentia, [2014]
Call Number
KJE2448 .M97 2014
ISBN
9781780682013 (pbk.)
1780682018 (pbk.)
1780682018 (pbk.)
Description
xiii, 291 pages ; 24 cm
System Control No.
(OCoLC)870649330
Bibliography, etc. Note
Includes bibliographical references (pages 239-291).
Record Appears in
Table of Contents
Preface
vii
ch. I
Introduction: "United in Diversity"
1
ch. II
Freedom of Establishment as a Fundamental Freedom
9
1.
The concept of the internal market
9
2.
Legal basis of freedom of establishment
12
2.1.
Balance of interests
12
2.2.
Direct effect
13
3.
The scope of freedom of establishment
15
3.1.
Broad interpretation of freedom of establishment
15
3.2.
Cross-border element
17
3.3.
The issue of regularity, periodicity and continuity
18
4.
Beneficiaries - Legal persons and companies
19
4.1.
Definition of a company
19
4.2.
Nationality of a company
21
4.3.
Nationality versus registered office, central administration and principal place of business
22
4.4.
Real and continuous link with the economy of a Member State
23
4.5.
Economic objective
24
5.
Types of establishment
25
5.1.
Primary establishment
25
5.2.
Secondary establishment
27
5.2.1.
'Agency', 'Branch' or 'Subsidiary'
27
5.2.2.
Non-exhaustive indication in article 49 of the TFEU
29
5.2.3.
The Segers case - Is the 'continuous link' still required?
30
6.
Definition of restrictions
32
6.1.
Discriminatory measures
33
6.2.
Non-discriminatory measures
36
7.
Justifications of restrictions
36
7.1.
Discriminatory measures
36
7.2.
Non-discriminatory measures
38
8.
Conclusions
41
ch. III
Impact of the Internal Market on National Choice of Law Rules
43
1.
Private international law and European integration
43
1.1.
Private international law versus European Union law
43
1.2.
Sources of private international law in the EU legal system
44
1.2.1.
EU instruments and international treaties: Treaty of Rome, Brussels and Rome Conventions (Brussels I, Rome I and Rome II)
44
1.2.2.
Brussels I Regulation and the Treaty of Amsterdam
46
1.2.3.
Private International Law in the TFEU
48
1.2.4.
The decisions of the European Court of Justice
49
2.
Choice and interpretation of a relevant connecting factor
51
2.1.
Definition of a connecting factor
51
2.2.
The real seat principle
52
2.2.1.
Comparative law remarks
52
2.2.2.
Different variants of the real seat theory
53
2.2.2.1.
The main place of establishment
54
2.2.2.2.
The place where the management of a company is located
54
2.2.2.3.
'The criterion of control' ('critere du controle')
55
2.2.2.4.
Place of general meetings of shareholders or board of directors
55
2.2.2.5.
Real seat (centre of administration)
56
2.2.3.
Determination of the real seat
56
2.2.3.1.
Divided management
57
2.2.3.2.
Auxiliary connecting factors
58
2.2.4.
The advantages of the real seat doctrine
59
2.2.5.
The disadvantages of the real seat doctrine
60
2.2.5.1.
Multiple or no company's seat
60
2.2.5.2.
Restrictive character as to the freedom of establishment
61
2.3.
The incorporation principle
63
2.3.1.
Comparative law remarks
63
2.3.2.
Statutory seat
65
2.3.3.
Pros and cons of the incorporation theory
67
2.3.3.1.
The advantages of the incorporation theory
67
2.3.3.2.
The disadvantages of the incorporation theory
68
2.3.4.
To reconcile - Modified versions of the incorporation theory
69
2.3.4.1.
'Differentiation theory' (Differenzierungslehre)
70
2.3.4.2.
'Limited theory of incorporation' (eingeschrankte Grundungstheorie)
71
2.3.4.3.
'Theory of the overlapping statutes' (Oberlagerungs-theorie)
72
2.3.4.4.
'Combined theory' (Kombinationslehre)
74
3.
Conclusions
76
ch. IV
The Analysis of the European Court of Justice's Approach Towards the Two Choice of Law Theories
79
1.
Transfer of the real seat
79
1.1.
Introduction
79
1.2.
Judgments of the European Court of Justice
81
1.2.1.
The Daily Mail judgment
81
1.2.1.1.
Facts
81
1.2.1.2.
Private international law
83
1.2.1.3.
Any impact on the relation between the real seat and incorporation theories?
84
1.2.2.
The Centros judgement
86
1.2.2.1.
Facts
87
1.2.2.2.
Private international law
88
1.2.2.3.
Reference to recognition?
90
1.2.2.4.
Measures aiming to prohibit the circumvention of national rules
93
1.2.3.
The Uberseering judgement
97
1.2.3.1.
Facts
98
1.2.3.2.
Private international law
99
1.2.3.3.
Substantive law versus choice of law
101
1.2.3.4.
The answer to the second question - Open gates for the incorporation theory?
102
1.2.4.
The Inspire Art judgment
106
1.2.4.1.
Facts
107
1.2.4.2.
Private international law
107
1.2.4.3.
Justification of restrictions?
110
1.2.4.4.
No twofold application of the choice of law rules
111
1.2.5.
The Cartesio judgement
113
1.2.5.1.
Facts
114
1.2.5.2.
Private international law
114
1.2.5.3.
Conclusions
118
1.2.6.
The National Grid Indus judgement
119
1.2.6.1.
Facts
119
1.2.6.2.
Private international law
120
1.2.6.3.
Conclusions
123
2.
Transfer of the registered office
124
2.1.
Benefits and disadvantages of the transfer of the registered office
124
2.2.
Judgments of the European Court of Justice
127
2.2.1.
The Segers judgment
127
2.2.1.1.
Private international law
128
2.2.1.2.
Definition of a connecting factor
128
2.2.2.
The Vale judgment
130
2.2.2.1.
Facts
130
2 2 2 2
Private international law
131
2.2.2.3.
Conclusions
135
2.2.3.
The Sevic judgement
136
2.2.3.1.
Facts
138
2.2.3.2.
Private international law
139
2.2.3.3.
Status quo maintained
141
3.
Principle of diversity
142
3.1.
No preference for a particular choice of law rule
142
3.2.
Diversity of company laws
144
3.3.
Diversity of legal paradigms
146
4.
Mutual recognition principle
147
4.1.
The concept of mutual recognition of foreign companies
147
4.2.
Mutual recognition and case law
149
4.3.
Limits on change of applicable law
154
5.
Possible outcome of the transfer of seat
157
5.1.
Choice of law rules and substantive law of the home Member State
159
5.2.
Choice of law rules and substantive law of the host Member State
161
5.3.
Inconsistencies
163
5.4.
Conditions for transfer of seat
164
5.5.
No voluntary change of applicable law
165
6.
Conclusions
166
ch. V
Harmonisation
171
1.
Concept of harmonisation
171
2.
Existing legislation
172
2.1.
Company Law Directives
174
2.2.
Capital regulation and the ECJ case law
176
2.3.
Cross-border mergers
181
2.3.1.
Introduction
181
2.3.2.
The need for cross-border mergers
182
2.3.3.
Mergers and transfers of registered seats
185
2.3.4.
Private international law
186
2.4.
The European Company (SE)
188
2.4.1.
Introduction
188
2.4.2.
Transfer of seat
193
3.
Planned legislation
199
3.1.
Transfer of seat
200
3.1.1.
Objectives
200
3.1.2.
Does the Community have the right to act?
202
3.1.3.
The Fourteenth Directive on Transfer of Seat
203
3.1.3.1.
Introduction
203
3.1.3.2.
Background
204
3.1.3.3.
Current framework
207
3.1.3.4.
Conclusions
207
3.2.
The European Private Company
210
3.2.1.
Introduction
210
3.2.2.
History
211
3.2.3.
EPC with a truly European nature
213
3.2.4.
Pros and cons
215
3.2.5.
A genuine European Company?
217
3.2.6.
Transfer of the registered office
219
3.2.7.
Summary
221
4.
Conclusions
224
ch. VI
Conclusions
229
Common application of the incorporation principle
229
Bibliography
239
1.
Literature
239
2.
Case Law
284
3.
Legislation
288
4.
Other
291