International Company Law in the European Internal Market: Three Decades of Judicial Activity

• Author: Johan Meeusen/Miroslawa Myszke-Nowakowska
• Pages: 92-135

XI ANUÁRIO BRASILEIRO DE DIREITO INTERNACIONAL

Anuário Brasileiro de Direito Internacional, ISSN 1980-9484, vol.2, n.21, jul. de 2016, pp.92-135.

92

INTERNATIONAL COMPANY LAW IN THE EUROPEAN INTERNAL

MARKET: THREE DECADES OF JUDICIAL ACTIVITY

DIREITO INTERNACIONAL EMPRESARIAL À LUZ DO MERCADO

INTERNO EUROPEU: TRÊS DÉCADAS DE ATIVIDADES JUDICIAL

Johan Meeusen1

Miroslawa Myszke-Nowakowska2

ABSTRACT

In the past three decades, the European Court of Justice has issued a series

of judgments in which it has interpreted the free movement of companies within the

European internal market. Due to the lack of a uniform European choice-of-law rule



right of establishment on the cross-border activities of companies in the internal market

and, therefore, on the relationship between that fundamental right and international

company law. The present contribution is meant to introduce the reader, through a brief

analysis of the ECJ case law, to the interaction of the two main choice-of-law rules

in company law -the real seat and incorporation theories- with the requirements and

opportunities brought about by the European internal market.

Keywords:        

company law, ECJ, transfer of seat, real seat theory, incorporation theory, mutual

recognition, restrictions to free movement

RESUMO



      

     

            

 



   





1



2



Anuário Brasileiro de Direito Internacional, ISSN 1980-9484, vol.2, n.21, jul. de 2016, pp.92-135.

International Company Law in the European Internal Market: Three Decades of Judicial Activity

93



Palavras-chave: 

internacional empresarial, TJCE, transferência da sede, teoria da sede real, teoria da



INTRODUCTION

Over the past three decades –from the - and Segers-judgments

of 1986 until the VALE-judgment of 2012- the European Court of Justice

            

series of judgments in which it has interpreted and explained the European right

of establishment for companies. The right of establishment is one of the free

movement rights which physical persons and companies enjoy in the internal



3.

Although the ECJ judgments in those 30 years have been given in response to



broad variety of topics ranging from tax matters to formal issues of company law,

 

    

. The nature of preliminary proceedings is such that the ECJ is asked to provide the



 

theoretical frameworks, e.g. to announce a full theory of international company law





of companies in the internal market and, therefore, in the relationship between the right

of establishment and international company law.





  



6

3

CMLR, Vol. 

“The role of choice of law rules in shaping free movement

of companies” Europäische Gerichtsbarkeit auf

dem Gebiet des Zivilrechts, Strukturen, Entwicklungen und Reformperspektiven des Justiz- und Ver-

fahrensrechts der Europäischen Union.  

, 2012, p. 121.

6

XI ANUÁRIO BRASILEIRO DE DIREITO INTERNACIONAL

Anuário Brasileiro de Direito Internacional, ISSN 1980-9484, vol.2, n.21, jul. de 2016, pp.92-135.



   

of laws, particularly when necessary for the proper functioning of the internal market,

              

company law. In the absence of such rules, the respective ECJ judgments on the right

  







questions referred to it on the right of establishment to clarify its position on the

         

 

 to VALE, a line of cases has been developed upon which, through



 novum as other aspects have

only been touched upon disparately by the ECJ.

Apart from the judicial evolutions, the European legislator has intervened as

     and

   

European instead of national origins8      

increase the effectiveness and coherence of international company law. On the other

   

  

        9, referring i.a. to the



of establishment10  

Private Company that has been abandoned due to failure to secure the unanimity

required for the proposal to be approved11.

Taken together, the series of ECJ judgments makes clear within what precise





8  

– 

9     

-



10

CMLR, 

11

Commission Communication, Revised Presidency compromise proposal or a Council Regulation for a Eu-



   -

    Journal for the

International and European Law, Economics and Market Integration

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