As Chinese practitioners and scholars ponder the scope of fiduciary obligations under the country’s company law,this paper offers a comparative perspective from German law.Although German corporate law has not reject...As Chinese practitioners and scholars ponder the scope of fiduciary obligations under the country’s company law,this paper offers a comparative perspective from German law.Although German corporate law has not rejected legal transplants,the common law trust has never been accepted as an organizational device for administering third-party funds or doing business.Nonetheless,the German judiciary has developed a sophisticated concept of fiduciary obligations where the statutes remain silent.This paper explores the application of fiduciary obligations to limited partnerships,limited liability companies,and stock corporations.It takes a membership perspective to ascertain the legal relationships between a corporation and its shareholder-members and among fellow-shareholders,as business entities evolve from personalistic to capitalistic settings.Fiduciary obligations also inform the relationship between the corporation and its directors and corporate officers.Although German law does not classify directors and corporate officers as the shareholders’direct trustees,shareholders stand nonetheless to benefit from the way directors and corporate offices discharge their duties towards the respective corporate entities.Moreover,criminal law rules on embezzlement operate to protect the corporation and the monies it administers from overly risky business projects.展开更多
Arecent decision by the U.S.government could end up wreaking havoc on the already turbulent world economy.On August 9,U.S.President Joe Biden signed into law the CHIPS and Science Act of 2022,also known as the Creatin...Arecent decision by the U.S.government could end up wreaking havoc on the already turbulent world economy.On August 9,U.S.President Joe Biden signed into law the CHIPS and Science Act of 2022,also known as the Creating Helpful Incentives to Produce Semiconductors for America Act.Earlier this year,Washington proposed a so-called Chip 4 Alliance comprising four global chip powerhouses including the U.S.,Japan,the Republic of Korea(ROK),and China’s Taiwan region.The White House stated that the legislation will lower costs,create jobs,strengthen supply chains,and revitalize domestic manufacturing.But all things considered,the Act is another brash attempt by Washington to counter China in the semiconductor industry and force major chip makers to take sides through a guardrails provision in part of the law that restricts companies’normal operations in China.展开更多
This paper provides an overview of the evolution of the harmonization process of European law in the field of group of companies,referring to the development of a national "group of companies law" — from th...This paper provides an overview of the evolution of the harmonization process of European law in the field of group of companies,referring to the development of a national "group of companies law" — from the company law reform to the crisis and insolvency code — with the purpose of examining the main aspects of the regulation in force,considering mainly the possible interaction with the rules on the crisis of the groups of companies introduced by the Legislative Decree No.14/2019,and with the aim of analyzing its suitability for being devoted to the prospect of harmonization across countries.展开更多
In a milestone docum ent adopted at the Fourth Plenary Session of the 19th Communist Party of China Central Committee in late October,advancing the rule of law to support the development of private and foreign-investe...In a milestone docum ent adopted at the Fourth Plenary Session of the 19th Communist Party of China Central Committee in late October,advancing the rule of law to support the development of private and foreign-invested companies was underlined.展开更多
The Belt and Road Initiative is an important decision for the great rejuvenation of the Chinese nation. Maritime security has a significant place in this process. In recent years, there have been frequent violent terr...The Belt and Road Initiative is an important decision for the great rejuvenation of the Chinese nation. Maritime security has a significant place in this process. In recent years, there have been frequent violent terrorist incidents at sea, including piracy, armed hijackings and terrorist attacks, posing a dire threat to both international and Chinese maritime transport interests and seriously challenging the fulfillment of the maritime part of the ＂Belt and Road Initiative.＂ Five direct measures can be taken to protect ocean shipping from violence at sea. One example is the defensive measures taken against the Somali pirates. The employment of armed guards from professional security companies on board ship is an effective model for guaranteeing maritime security; it not only meets the standards of international law, but is also legally permitted in many developed countries and regions, and is thus strategically significant for overall Chinese maritime security. In the Chinese context, this model carries its own legal risks. We should embrace a new approach to national security law, strengthen legal guarantees and make concerted efforts to provide warship （military aircraft） escorts to jointly build an optimum model of Chinese maritime security in order to ensure the realization of core Chinese maritime interests.展开更多
文摘As Chinese practitioners and scholars ponder the scope of fiduciary obligations under the country’s company law,this paper offers a comparative perspective from German law.Although German corporate law has not rejected legal transplants,the common law trust has never been accepted as an organizational device for administering third-party funds or doing business.Nonetheless,the German judiciary has developed a sophisticated concept of fiduciary obligations where the statutes remain silent.This paper explores the application of fiduciary obligations to limited partnerships,limited liability companies,and stock corporations.It takes a membership perspective to ascertain the legal relationships between a corporation and its shareholder-members and among fellow-shareholders,as business entities evolve from personalistic to capitalistic settings.Fiduciary obligations also inform the relationship between the corporation and its directors and corporate officers.Although German law does not classify directors and corporate officers as the shareholders’direct trustees,shareholders stand nonetheless to benefit from the way directors and corporate offices discharge their duties towards the respective corporate entities.Moreover,criminal law rules on embezzlement operate to protect the corporation and the monies it administers from overly risky business projects.
文摘Arecent decision by the U.S.government could end up wreaking havoc on the already turbulent world economy.On August 9,U.S.President Joe Biden signed into law the CHIPS and Science Act of 2022,also known as the Creating Helpful Incentives to Produce Semiconductors for America Act.Earlier this year,Washington proposed a so-called Chip 4 Alliance comprising four global chip powerhouses including the U.S.,Japan,the Republic of Korea(ROK),and China’s Taiwan region.The White House stated that the legislation will lower costs,create jobs,strengthen supply chains,and revitalize domestic manufacturing.But all things considered,the Act is another brash attempt by Washington to counter China in the semiconductor industry and force major chip makers to take sides through a guardrails provision in part of the law that restricts companies’normal operations in China.
文摘This paper provides an overview of the evolution of the harmonization process of European law in the field of group of companies,referring to the development of a national "group of companies law" — from the company law reform to the crisis and insolvency code — with the purpose of examining the main aspects of the regulation in force,considering mainly the possible interaction with the rules on the crisis of the groups of companies introduced by the Legislative Decree No.14/2019,and with the aim of analyzing its suitability for being devoted to the prospect of harmonization across countries.
文摘In a milestone docum ent adopted at the Fourth Plenary Session of the 19th Communist Party of China Central Committee in late October,advancing the rule of law to support the development of private and foreign-invested companies was underlined.
文摘The Belt and Road Initiative is an important decision for the great rejuvenation of the Chinese nation. Maritime security has a significant place in this process. In recent years, there have been frequent violent terrorist incidents at sea, including piracy, armed hijackings and terrorist attacks, posing a dire threat to both international and Chinese maritime transport interests and seriously challenging the fulfillment of the maritime part of the ＂Belt and Road Initiative.＂ Five direct measures can be taken to protect ocean shipping from violence at sea. One example is the defensive measures taken against the Somali pirates. The employment of armed guards from professional security companies on board ship is an effective model for guaranteeing maritime security; it not only meets the standards of international law, but is also legally permitted in many developed countries and regions, and is thus strategically significant for overall Chinese maritime security. In the Chinese context, this model carries its own legal risks. We should embrace a new approach to national security law, strengthen legal guarantees and make concerted efforts to provide warship （military aircraft） escorts to jointly build an optimum model of Chinese maritime security in order to ensure the realization of core Chinese maritime interests.
