The appropriate recognition of the interest of the group
Gvido Losaks
Art der Arbeit
Master-Thesis (ULG)
Universität Wien
Postgraduate Center
Studiumsbezeichnung bzw. Universitätlehrgang (ULG)
Universitätslehrgang Europäisches u. Intern. Wirtschaftsrecht
Thomas Ratka
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The present thesis examines appropriate recognition of the interest of the group in the European Union (EU). Given that the EU is based on the principal of conferral it has no general competence to regulate company law in its entirety. Member States therefore continue to operate in accordance with the legal systems of separate countries, resulting in legal fragmentation of the Internal Market, which in turn has adverse effects on consistency and thus represents a burden. It is the European Single Market that renders national systems of company law of the individual Member States to be coherent, while the Treaty of Functioning of the European Union (TFEU) provides the legal basis for harmonization. Accordingly, appropriate recognition of the interest of the group would safeguard the Union against legal fragmentation and foster a positive business environment within the EU. The group interest is defined as “organized group management through network of companies, where central control is exercised by a parent company and local autonomy granted to a subsidiary.” The paper is divided into three sections: Piercing the corporate veil, single economic unit and positive EU wide business environment. The first section examines the distinction/difference between parent and the subsidiary companies. The second section looks into how competition law approaches the recognition of the interest of the group. The third section examines the influence of the recognition of the interest of the group on the Internal Market. The central research question is whether the EU should intervene depending on how Member States recognise the interest of the group. The scope is narrowed to private limited liability subsidiaries. The methodology used is that of legal doctrinal research. The first section analyses the (degree of) autonomy of legal entities that are private limited liability subsidiaries and sets out to establish the difference between the interest of the group and that of each participant of the group. It further analyses the right of shareholders to influence the management of the company and the protection of creditors and minority shareholders. The second section discusses the single economic unit doctrine. The third section focuses on the issue whether an appropriate recognition of the interest of the group might improve the overall EU business environment, that is, clarity for directors, decrease in costs, facilitation of cash pooling, and the development of the CCCTB. Moreover, this section also discusses the effects on regulatory arbitrage and regulatory competition. This paper concludes that that there is a need for an EU intervention in the context in terms of an appropriate recognition of the interest of the group, since the current system has to proven to be legally fragmented and demoting for a positive EU-wide business environment.


appropriate recognition interest group
Gvido Losaks
Haupttitel (Englisch)
The appropriate recognition of the interest of the group
Paralleltitel (Deutsch)
Berücksichtigung von Konzerninteressen
61 seiten
Thomas Ratka
86 Recht > 86.86 Europarecht: Allgemeines
AC Nummer
Utheses ID
UA | 992 | 548 | |
Universität Wien, Universitätsbibliothek, 1010 Wien, Universitätsring 1