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European thoughts... national and blind private approachs... why sacrifying the European Company Statute?
14/11/2010

We experienced a few scenarii that are curently available in the internal market and for medium seized or invovative compagnies...

The moot courts (we did not publish all the materials) provide a range of guide lines that could be usefull in order to set up a European Compagny right now...

Today after the report about the European (Privatus) Company given by the European Commission, even a specialist can feel lost...

Pr. Dr. A. Francesco Shurr (Lichtenstein) provides the following opinion "We agree with the study's assessment on the attractiveness/non-attractiveness of national legislation for setting up an SE. To our view the member state national corporate law regime of the SE in general plays a minor role compared to the SE Regulation as such. Thus the popularity or non-popularity of the SE in individual states is not bound directly to the national legislation. Only some of those states that do not offer - within their national company law regime - any domestic alternative to the two-tier-system have enacted pieces of legislation in their domestic law that makes the establishment of an SE less attractive. According to our view those states have tried to avoid that too many companies in their state “circumvent” national legislation regarding the mandatory two-tier-system and sometimes as well national legislation regarding the participation of employees."

Here we are!

The main assesment against the SE and that remains in the various and conterfeiting "Privata Societatis Statutis" that can be cosidered as the dream of a total freedom of movement...

This is not possible!

But!

The European Compagny Statute, can be a strong asset in order to develop for instance the cross border mergers between medium sized entities.

The Member States should take the SE into account and provide the European Citizen with public information, curently the European Commisison exposes that among the 69 opinions that have been submitted only 3 reports are the expression of public authorities...

See the presentation that underlines the current judicial context that implies:

1° Harmonization of community law creates juridical solutions different from those of yesterdays.

2° Necessity to lower the costs of analyses.

3° Specialization of the business.

4° Complexity of the expertise needed in this context.

5° Increasing professionalism of the actors.

Good luck SE!

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