Convergence, Competition, Centros and Conflicts of Law: European Company Law in the 21st Century

European Law Review, Vol. 27, pp. 47-59, 2002 (with postscript 2008)

19 Pages Posted: 23 Nov 2005 Last revised: 3 Dec 2008

Mathias M. Siems

Durham University - Durham Law School; University of Cambridge - Centre for Business Research

Abstract

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.

Keywords: Company law, corporate law, European law, conflict of laws, Centros, race to the bottom

JEL Classification: K22

Suggested Citation

Siems, Mathias M., Convergence, Competition, Centros and Conflicts of Law: European Company Law in the 21st Century. European Law Review, Vol. 27, pp. 47-59, 2002 (with postscript 2008). Available at SSRN: https://ssrn.com/abstract=853865

Mathias M. Siems (Contact Author)

Durham University - Durham Law School ( email )

Stockton Road
Durham, County Durham DH1 3LE
United Kingdom

HOME PAGE: http://www.dur.ac.uk/mathias.siems

University of Cambridge - Centre for Business Research ( email )

Top Floor, Judge Business School Building
Trumpington Street
Cambridge, CB2 1AG
United Kingdom

HOME PAGE: http://www.cbr.cam.ac.uk/people/research-associates/mathias-m-siems/

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