European Union: Shareholders

El Tribunal Supremo español establece que los activos por impuesto diferido no constituyen "beneficios propios de la explotación" a efectos de liquidar un usufructo de acciones. La sentencia delimita qué reservas societarias deben computarse cuando el usufructuario reclama el incremento de valor de las acciones al extinguirse el derecho real.

A licence defence under Art. 25 UPCA must be substantiated within the UPC proceedings themselves; mere references to submissions in parallel national proceedings are insufficient (Art. 25 UPCA, R. 24 RoP)

The Court of Justice of the European Union has ruled on the extent to which personal data of minority shareholders in public companies can be disclosed to the general public without conditions. This judgment addresses the tension between business transparency objectives and fundamental rights to privacy and data protection under EU law. The decision examines whether making shareholder information unconditionally available online complies with GDPR requirements and the EU Charter of Fundamental Rights.

Der Bundesgerichtshof hat sich mit der Reichweite der gesellschafterlichen Treuepflicht bei Prozessfinanzierungsvereinbarungen zwischen einer GmbH und einem nahestehenden Gesellschafter befasst. Zugleich wurden grundlegende Anforderungen an die ordnungsgemäße Einberufung von Gesellschafterversammlungen und die Grenzen der Vertretungsmacht nach § 37 Abs. 2 GmbHG bei gesellschafterbeherrschten Vertragspartnern geklärt.

The Irish High Court has addressed a fundamental question about legal advice privilege in corporate law: can a company assert privilege against its own shareholders? This decision examines the controversial 'shareholder rule' and its compatibility with the principle of separate legal personality established in Salomon v Salomon, following the Privy Council's recent rejection of this rule in England and Wales.

When a company pays an interim dividend but later discovers it lacked sufficient distributable profits, can those payments be recovered from shareholders? This analysis examines the unique legal position of interim dividends under Maltese company law, exploring the circumstances under which clawback becomes possible and the critical distinction between lawful distributions affected by subsequent misfortune and unlawful payments that should never have been made.

Cyprus companies are frequently used in international business structures, holding arrangements and cross-border investments. In this context, nominee shareholder arrangements remain a familiar and legitimate feature...

Luxembourg has introduced a new law allowing private limited liability companies (SARLs) to defer payment of their minimum share capital for up to 12 months after incorporation, fundamentally changing the previous requirement...

EU fund managers are increasingly opting to establish their own Luxembourg-based licensed entities to manage European private funds, known as authorised alternative investment fund managers (AIFMs). This Q&A addresses the practical considerations and key questions that arise when choosing between an in-house AIFM controlled by the fund manager versus engaging a third-party Luxembourg AIFM.