Home > Research > Publications & Outputs > Regulating close companies in Corporate Law

Associated organisational unit

Electronic data

  • Close companiesrevisitedsagepdf

    Rights statement: The final, definitive version of this article has been published in the Journal, Common Law World Review, 46 (3), 2017, © SAGE Publications Ltd, 2017 by SAGE Publications Ltd at the Common Law World Review page: http://journals.sagepub.com/home/clw on SAGE Journals Online: http://journals.sagepub.com/

    Accepted author manuscript, 607 KB, PDF-document

    Available under license: CC BY-NC: Creative Commons Attribution-NonCommercial 4.0 International License

Links

Text available via DOI:

View graph of relations

Regulating close companies in Corporate Law: - towards a more formal recognition?

Research output: Contribution to journalJournal article

Published
<mark>Journal publication date</mark>1/09/2017
<mark>Journal</mark>Common Law World Review
Issue number3
Volume46
Number of pages18
Pages (from-to)198-215
Publication statusPublished
Original languageEnglish

Abstract

Close companies are the majority constituency in the corporate population across the globe. Yet little attempt has been made by corporate law systems explicitly to legislate for them. This is particularly so in the United Kingdom, where the courts have assumed the role of providing a customized corporate law regime for such entities. The Duomatic principle of unanimous assent, which is used to whitewash procedural irregularity, is the paradigm in this respect. This article reviews judicial attitudes in the common law world in this regard and evaluates the pros and cons of converting a globally recognized common law principle into a statutory statement of the law. It also considers the wider merits/demerits of a discrete regulatory framework for close companies and private companies in general.

Bibliographic note

The final, definitive version of this article has been published in the Journal, Common Law World Review, 46 (3), 2017, © SAGE Publications Ltd, 2017 by SAGE Publications Ltd at the Common Law World Review page: http://journals.sagepub.com/home/clw on SAGE Journals Online: http://journals.sagepub.com/