Cross-border reincorporations in the European Union: the case for comprehensive harmonisation

Gerner-Beuerle, Carsten; Mucciarelli, Federico M.; Schuster, Edmund; Siems, Mathias

doi:10.1080/14735970.2017.1349428

Cross-border reincorporations in the European Union: the case for comprehensive harmonisation

Gerner-Beuerle, Carsten; Mucciarelli, Federico M.; Schuster, Edmund; Siems, Mathias

Authors

Carsten Gerner-Beuerle

Federico M. Mucciarelli

Edmund Schuster

Mathias Siems

Abstract

Despite recent decisions of the Court of Justice that liberalise inbound and outbound reincorporations, several Member States still prohibit these transactions or make them impossible or impractical. Even where reincorporations are available in principle, significant legal uncertainties often exist due to a lack of clear and interoperable rules. This situation may, for instance, jeopardise the interests of creditors and minority shareholders of the emigrating companies in circumstances where the involved jurisdictions do not provide for an explicit regulation of cross-border reincorporations aimed at protecting these stakeholders. Furthermore, when procedural rules are unclear or lacking, companies might be struck from the relevant register of the country of origin without being entered in the register of any other Member States. We argue that, as a consequence, harmonisation of the reincorporation process is necessary, and that it is desirable to reach a high minimum standard of creditor and minority shareholder protection.

Citation

Gerner-Beuerle, C., Mucciarelli, F. M., Schuster, E., & Siems, M. (2018). Cross-border reincorporations in the European Union: the case for comprehensive harmonisation. Journal of Corporate Law Studies, 18(1), 1-42. https://doi.org/10.1080/14735970.2017.1349428

Journal Article Type	Article
Acceptance Date	Jun 22, 2017
Online Publication Date	Jul 24, 2017
Publication Date	Jan 2, 2018
Deposit Date	Aug 17, 2017
Publicly Available Date	Jan 24, 2019
Journal	Journal of Corporate Law Studies
Print ISSN	1473-5970
Electronic ISSN	1757-8426
Publisher	Taylor and Francis Group
Peer Reviewed	Peer Reviewed
Volume	18
Issue	1
Pages	1-42
DOI	https://doi.org/10.1080/14735970.2017.1349428

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Copyright Statement
This is an Accepted Manuscript of an article published by Taylor & Francis in Journal of Corporate Law Studies on 24/07/2017, available online: http://www.tandfonline.com/10.1080/14735970.2017.1349428.