Convergence, Competition, Centros and Conflicts of Law: European Company Law in the 21st Century
Mathias M. Siems
Durham University - Durham Law School; University of Cambridge - Centre for Business Research
European Law Review, Vol. 27, pp. 47-59, 2002 (with postscript 2008)
In this article it is submitted that European company law will change remarkably. The conflict-of-law principles and the rules on the establishment of cross-border companies will become more liberal. The decision of the European Court of Justice in Centros is only the first step in this development. This will lead to some competition among rules. Although there are issues which might encourage businesses to incorporate in a foreign Member State, the result will not be a race to the bottom, because existing counter-incentives must not be disregarded and Member States may enact provisions to protect their domestic company law.
Number of Pages in PDF File: 19
Keywords: Company law, corporate law, European law, conflict of laws, Centros, race to the bottom
JEL Classification: K22Accepted Paper Series
Date posted: November 23, 2005 ; Last revised: December 3, 2008
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