Transparenz von Aktionärbindungsverträgen und Gesellschafterbindungsverträgen in Kapitalgesellschaften: Zur Grundsatzfrage und einer möglichen Umsetzungsstrategie
Journal
SZW (Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht)
Type
journal article
Date Issued
2019
Author(s)
Abstract (De)
A shareholders’ or members’ agreement is a contract concluded by some or all shareholders or members of a company, eventually with the involvement of the company itself, in order to arrange their legal position complementary to or differing from the relevant company law framework. Although dogmatically diverging, the contractual provisions and company law norms often form a unity. However, shareholders’ and members’ agreements, other than the articles of incorporation, which are publically accessible, are generally not accessible by non-contracting parties. It is therefore fair to say that such agreements in some sense represent the «dark side of the moon». Given their practical importance, it is still astonishing that the rules and regulations on acting in concert pursuant to company and capital market law often do not capture the existence and content of such agreements. This article addresses the research question whether shareholders’ and members’ agreements should be subject to stricter transparency rules. While the article first discusses the pros and cons of more transparency of these agreements, it then focusses on how this could be implemented, both for listed stock companies with regard to disclosure, takeover and accounting law on the one hand and for non-listed stock companies and limited liability companies on the other hand. As a conclusion, a roadmap which would lead to more transparency in respect of such agreements will be proposed.
Language
German
Refereed
Yes
Volume
91
Number
3
Start page
286
End page
300
Subject(s)
Division(s)
Eprints ID
266354
File(s)![Thumbnail Image]()
open.access
Name
Jentsch - Transparenz von Aktionärbindungsverträgen und Gesellschafterbindungsverträgen in Kapitalgesellschaften.pdf
Size
1.38 MB
Format
Adobe PDF
Checksum (MD5)
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