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The European Private Company Before its Pending Legislative Birth

Published online by Cambridge University Press:  06 March 2019

Peter Hommelhoff

Extract

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In the summer of 2008, the EU Commission will present the draft regulation for a European private company. The Commission indicates by this announcement of the internal market commissioner, after prolonged hesitation that it wishes to comply with the urgent and detailed request of the European Parliament (EP) and to initiate the legislative process. Apparently, the arguments directed at the small and medium sized enterprises (SME) and their specific interests have now, after the EU parliamentarians, also convinced the Commission. In fact, the significance of this group of enterprises in the economy of the Community cannot be overestimated. The Commission therefore acts with appropriate responsibility in not confining itself to taking up the draft regulation prepared ten years ago by business practitioners and academic lawyers (CCIP/CNPF working group) but being prepared (as can be seen in the Consultation Paper of the General Directorate Internal Market of July 2007) to develop its own statute for a European private company. This paper is intended, mainly on the basis of that Consultation Paper but also on the basis of the EP resolution, to introduce the main issues and central regulatory elements of the new legal form of community law.

Type
Articles
Information
German Law Journal , Volume 9 , Issue 6 , 01 June 2008 , pp. 799 - 818
Copyright
Copyright © 2008 by German Law Journal GbR 

References

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26 This description is known to come from Wiedemann, Herbert, Unternehmensrecht und GmbH-Reform, in Juristenzeitung [JZ] 592 (1970), at 596.Google Scholar

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54 .Supra, note 4, in answer to Question 10.Google Scholar

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90 This is the formula originally proposed for the SE Regulation; having regard to the common principles of the laws of the Member States, it will only be sustainable for the EPC without this part because English and Irish law on the one hand, and Scandinavian law on the other, are not part of the continental European legal family. The expansion of the EC must be taken into account in any event in the formula for closing gaps for the EPC. A first attempt to develop legal principles and regulatory concepts in European Company Law is made by Veil, supra, note 35 at 799.Google Scholar

91 Most recently Wicke, Die Euro-GmbH im “Wettbewerb der Rechtsordnungen”, in: GmbHR 356 (2006), 357–8 (with further references)Google Scholar

92 Supra, note 10.Google Scholar

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94 Supra, note 90Google Scholar

95 Bilanzrechtsmodernisierungsgesetz (BilMoG), www.der-betrieb.de/pdf/081107_bilmog_refe.pdf (§ 342 ss 1 p. 1 No. IV HGB - Commercial Code) wishes to impose an additional (national) task on the private accountancy committee DRSCGoogle Scholar

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