magistrsko delo
Petra Zupančič (Author), Marijan Kocbek (Mentor), Jerneja Prostor (Co-mentor)

Abstract

Magistrsko delo obravnava implementacijo določb Direktive (EU) 2017/1132 Evropskega parlamenta in Sveta z dne 14. junija 2017 (v nadaljevanju: Direktiva 2017/1132) na področju čezmejnih združitev gospodarskih družb v dveh državah članicah Evropske unije - Združenem kraljestvu in Sloveniji. Združitev delniških družb v isti državi članici je na ravni Evropske unije najprej uredila Tretja direktiva, zato je to področje bilo v državah članicah že vrsto let usklajeno. Čezmejne združitve, torej združitve družb iz različnih držav članic pa je podrobneje uredila Deseta direktiva, ki je bila kasneje kodificirana v določbe Direktive 2017/1132. S sprejemom Desete direktive je Evropska unija želela omogočiti družbam, da se čezmejno združujejo na urejen, učinkovit in primeren način, tako da bi se ob tem zaščitilo najbolj prizadete deležnike kot so zaposleni, upniki in imetniki deležev. Navkljub temu se je v praksi izkazalo, da zaradi različnih implementacij določb Tretje in Desete direktive v nacionalne pravne rede držav članic, varstvo interesov najbolj ogroženih kategorij deležnikov, ni bilo vedno ustrezno zagotovljeno. S sprejetjem Direktive (EU) 2019/2121 z dne 27. novembra 2019 o spremembi Direktive (EU) 2017/1132 glede čezmejnih preoblikovanj, združitev in delitev (v nadaljevanju: Direktiva 2019/2121) je na področju čezmejnih združitev prišlo do harmonizacije in uskladitve materialnih pravil za zaščito upnikov, zaposlenih in imetnikov deležev, s čimer se zagotavlja tudi večja pravna varnost pri čezmejnih preoblikovanjih gospodarskih družb. V osrednjem delu magistrske naloge je najprej predstavljena okvirna vsebina Direktive 2019/2121. Temu po posameznih večjih tematskih sklopih sledi sistematična predstavitev obstoječe ureditve postopka čezmejne združitve gospodarskih subjektov po določbah kodificirane Direktive 2017/1132, vključno s prikazom implementacije le te v Zakon o gospodarskih družbah (v nadaljevanju: ZGD-1). Na koncu vsakega zaključenega tematskega sklopa sledi še predstavitev predvidene implementacije Direktive 2019/2121 na področju čezmejnih združitev gospodarskih družb v slovenski pravni red. Nazadnje pa je po enakem sistemu predstavljena primerjalno pravna analiza implementacije določb Direktive 2017/1132 v zakonodajno ureditev v Združenem kraljestvu, temu dodana pa eventualna implementacija Direktive 2019/2121 s področja čezmejnih združitev gospodarskih družb v njihov nacionalni pravni red. Avtorica je v delu ugotovila, da implementacija Direktive 2019/2121 v slovenski ZGD-1 ne bo vnesla večjih sprememb, saj v nasprotju z nekaterimi državami članicami, je varstvo interesov najbolj ogroženih kategorij deležnikov v postopkih čezmejnih združitev gospodarskih družb, že sedaj ustrezno zagotovljeno. V kolikor bi Združeno kraljestvo implementiralo določbe Direktive 2019/2121 v nacionalni pravni red, bi na področju čezmejnih združitev, bile potrebne znatne modifikacije, saj je trenutno varstvo interesov upnikov in imetnikov deležev neučinkovito in neskladno s standardi Evropske unije.

Keywords

čezmejne združitve gospodarskih družb;Direktiva (EU) 2011/35;Direktiva (EU) 2005/56;Direktiva 2017/1132;Direktiva (EU) 2019/2121;ZGD-1;

Data

Language: Slovenian
Year of publishing:
Typology: 2.09 - Master's Thesis
Organization: UM PF - Faculty of Law
Publisher: P. Zupančič]
UDC: 347.741.045(043.3)
COBISS: 49117443 Link will open in a new window
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Other data

Secondary language: English
Secondary title: Implementation of Directive 2019/2121 regarding cross-border mergers of companies in Slovenia and the United Kingdom
Secondary abstract: The master's thesis deals with the implementation of the provisions of Directive (EU) 2017/1132 of the European Parliament and of the Council of 14 June 2017 (hereinafter: Directive 2017/1132) on cross-border mergers in two Member States of the European Union - the United Kingdom and Slovenia. National level mergers of public limited liability companies on the EU level were firstly regulated by Third Council Directive. Cross-border mergers between companies from different Member States are regulated by Tenth Council Directive, which was later codified in the provisions of the Directive 2017/1132. Purpose of the adoption of the Tenth Council Directive was to ensure and enable companies to enter the merger process in organized, effective and suitable manner, with due respect to protection of most affected involved parties, such as employees, creditors, and shareholders. Because of the different approach in the process of implementation of the Third and Tenth Council Directive by the Member States, it soon became apparent that the protection of interests of employees, creditors, and shareholders was not always adequately ensured and regulated to the same extent. By adopting the Directive (EU) 2019/2121 of the European Parliament and of the Council of 27 November 2019 amending Directive (EU) 2017/1132 as regards cross-border conversions, mergers and divisions (hereinafter: Directive 2019/2121), European union ensured greater legal certainty in cross-border corporate transformations and introduced a harmonised protection of creditors, employees and shareholders in cross border mergers. The central part of the master's thesis is focused on presenting the general content of Directive 2019/2121, followed by a systematic presentation of the existing regulation of the cross-border mergers procedure under the provisions of the Directive 2017/1132, including a demonstration of the implementation of Directive 2017/1132 in Slovenia's Companies Act (hereinafter: ZGD-1). Each completed thematic subchapter includes a proposal of implementation of Directive 2019/2121 in the field of cross-border mergers into ZGD-1. The same analytical approach is used in the last chapter of the master's thesis, which starts with the comparative legal analysis of the implementation of the Directive 2017/1132 in the legislation of the United Kingdom, followed by a presentation of the hypothetical implementation of Directive 2019/2121 in the field of cross-border mergers into United Kingdom's national legal order. The author concluded that with the respect to the future implementation of Directive 2019/2121 in the ZGD-1 grater changes will not be required, because, unlike in some Member States, the protection of interests of the most vulnerable involved categories of creditors and stakeholders in cross-border mergers are already sufficiently guaranteed. However, if the United Kingdom decided to implement the provisions of Directive 2019/2121 into their national law, substantial modifications would deem to be necessary in the field of cross-border mergers, as the current protection of interests of creditors and shareholders is ineffective and inconsistent with European Union standards.
Secondary keywords: cross-border mergers;Directive (EU) 2011/35;Directive (EU) 2005/56;Directive 2017/1132;Directive (EU) 2019/2121;ZGD-1;
Type (COBISS): Master's thesis/paper
Thesis comment: Univ. v Mariboru, Pravna fak.
Pages: 55 f.
ID: 12384573