The purpose of the study is to analyze the provisions of the novelties of the Russian legislation on digital financial assets and digital currency. The methodological basis was the method of ...comparative legal analysis, using which the authors identify general patterns and features of the legal status of Russian digital joint-stock companies and decentralized autonomous organizations widely discussed in foreign literature. The results of the study were conclusions about the significant differences between the above organizations. A company issuing digital shares, under Russian law, differs from an ordinary non-public joint stock company by limiting the circulation of digital shares within the framework of a digital platform. Unlike the decentralized autonomous organization, it has legal entity and governing bodies. It was also concluded that there is a significantly greater variety of rights of holders of foreign token-shares in comparison with the rights of shareholders of Russian digital joint stock companies. The novelty of the research is contained in the results of the analysis and doctrinal interpretation of the norms of Russian federal laws concerning digital shares. So, in particular, it was established that such are recognized at the same time as securities and digital rights. Such a legal structure appears to be unnecessarily complex. According to Russian law, digital shares differ from ordinary shares in the form of certification of shareholders “rights, while no differences have been revealed in the scope of shareholders” rights.
After two decades of uncertainties and legislative instability, following the anti-communist Revolution of December 1989, the reform of Romanian state-owned enterprises' management to a system of ...corporate governance was imperative. The Government Emergency Ordinance no. 109/2011, subsequently amended by the Law no. 111/2016, has modernized their management and administration system, ensuring greater transparency and increased control over the operations of public enterprises. At the base of these entities' relationship with their administrative and executive management structures there are mandate contracts, which impose specific obligations on the agents, as well as a system of accountability meant to ensure that the state is permanently informed on the operations of the enterprise, that the acts concluded on its behalf are correct and legal and that, should the public authority loose trust in the management, it could immediately hold them accountable, in order to recover the losses and put the activity of the enterprise on the right and lawful path again. In our study, we shall analyse the content and the juridical nature of this mandate relationship, with its national specificity, given by the incidental regulations from Romanian legislation.
This research paper aimed to clarify the impact of the Corona pandemic on joint stock companies, and to determine the role of corporate governance principles in limiting its effects. The results ...showed that the Corona pandemic affected companies operating in Iraq, as it affected all facilities of economic, social and health life and all countries of the world, which led to disruption in corporate activity, and also showed the role of governance principles in limiting the impact of the Corona pandemic on companies. A set of recommendations have been developed, including the need to adhere to the procedures determined by the competent authorities to reduce the effects of the Corona pandemic, and to enhance communication skills between companies and stakeholders using modern communication techniques and the Internet.
Dans un contexte de crise systémique, l'économie sociale et solidaire a montré sa capacité à s'adapter et à résister en adoptant un modèle alternatif à la logique capitaliste dominante. Aussi, les ...gouvernants ont compris l'importance qu'il y avait à encourager et donc à soutenir financièrement les acteurs de ce secteur, porteur de richesses et d'emplois. Il convient alors de délimiter juridiquement le champ de l'économie sociale et solidaire afin d'identifier les bénéficiaires des moyens qu'il convient de mettre en place au déploiement de cette nouvelle économie. En France, la loi sur l'ESS adoptée le 31 juillet 2014 a posé pour la première fois les bases d'une reconnaissance juridique à ce secteur que le gouvernement français ne pouvait plus ignorer en raison de son poids croissant dans l'économie nationale. La création d'une structure juridique unique et homogène de l'entreprise de l'économie sociale et solidaire à l'instar de ce qui s'est fait dans certains pays d'Europe a été d'emblée écartée au profit d'une définition construite à partir d'une élaboration des critères communs aux acteurs de l'économie sociale et solidaire. Toutefois, la grande nouveauté de cette réforme réside incontestablement dans le choix politique d'ouvrir le périmètre de l'économie sociale et solidaire aux sociétés commerciales. Cet article propose d'analyser dans un premier temps le choix de cette intégration, encouragé par un contexte d'initiatives normatives de plus en plus prégnant sur le nouveau rôle assigné aux sociétés capitalistiques. Puis, nous examinerons la place que la loi réserve à ces nouvelles sociétés de l'économie sociale et solidaire.
The introduction of the squeeze-out procedure into Ukrainian law took place several years ago. It was due to the implementation of Directive 2004/25/EC of the European Parliament and of the Council ...of April 21, 2004 on takeover bids as part of the implementation of the Association Agreement between Ukraine and the European Union. However, the resonance of this institution in Ukrainian legislation has not only continued to grow but is also gaining momentum. The purpose of squeeze-out is to balance the interests of majority and minority shareholders. However, there are ongoing discussions in the legal profession regarding the possibility of a possible violation of the subjective rights of minority shareholders in the event of forced deprivation of their ownership of shares, the setting of the share price, and the compliance of the procedure for the compulsory sale of minority shareholders' shares with the principle of inviolability of property rights. The institute of compulsory redemption of minority shareholders' securities at the request of a person (group of persons) holding a dominant controlling stake is new to the theory and practice of domestic corporate law. In the legislation of other countries and legal doctrine, the institute of public offer is a mechanism that guarantees shareholders' rights in the process of redistribution of corporate control and takeovers and ensures a balance of private and public interests in a joint-stock company. It is characteristic of a public company's exit from the public securities market. Given the relative novelty of the relevant procedure in Ukraine, as well as its controversy, it is advisable to study it in more detail. In particular, the author believes that it is advisable to consider the squeeze-out procedure in Ukraine in comparison with the EU for a deeper study. The purpose of the article is to analyze the history of the emergence and development of the squeeze-out institute in selected countries of the world, the mechanism of its implementation in national legislation, law enforcement practice, and to identify proposals for improving legal regulation and implementation. The leading scientific method used by the author in this study is the comparative method. The main objective of the article is to compare squeeze-outs in the EU and Ukraine. The author used the comparative method to obtain the results disclosed in the article and its conclusions. It was the application of the comparative method that made it possible to identify common and distinctive features in Ukrainian and European legislation, as well as to identify differences in the implementation of forced buyouts in EU member states.
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