Las Problemáticas Modificaciones Adicionales a la Transformación de Sociedades Mercantiles (The Problematic Charter Amendments Additional to the Transformation of Corporations)
28 Pages Posted: 25 Mar 2011
Date Written: December 15, 2010
Spanish Companies regulation (in particular, Act 3/2009 on the structural modifications of corporations) allows for a simplified procedure of charter amendment in the case of transformation of corporations. In some cases, the simplification might imply a reduction in shareholders' and creditors' rights. This article critically appraises the Spanish rules and proposes a functional interpretation that preserves shareholders' and creditors' legitimate rights when corporations decide to transform.
Note: Downloadable document is in Spanish.
Keywords: corporation transformation, charter amendments, shareholders' rights, creditors' rights
JEL Classification: K22
Suggested Citation: Suggested Citation