Some Contemplations About Conceptual Changes Of Approaches To Understanding The Liability Of The Shareholders And The Officials Of Commercial Corporations
Keywords:
responsibility of shareholders, responsible of officials of companies, affiliated persons, joint stock companiesAbstract
The article is dedicated to the problems of the shareholders’ liability, which appears because of their misuses or delicts that lead to material losses of a commercial corporation. According to the basic rule which is mentioned in the norms of the Civil Code of Ukraine and the Law “About the Joint Stock Companies” the members (shareholders) of corporation are not responsible for the debts of the corporations in which they participate. But the newest legislation provisions in Ukraine founded an opposite approach. The problem is that the new legislation contradicts not only conceptual principals of liability, on which Ukrainian legislation is based, but also the corporative theory in whole. It breaks the rule that historically the corporation has been forming as an organizational form in order to ensure the absence of personal liability of the shareholders (members) for its debts. In fact, this feature distinguishes corporations from unlimited partnerships.
The author proposes the salvation of the problem described above. It is recommended to move this problem in judicial sphere, where it should be solved in compliance with the doctrine of shareholders’ liability as a consequence of the torts and misuses they’ve committed.
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