Suchergebnisse für Vertragsfreiheit

Editorial

Eppur si muove! – die Aktienrechtsrevision bewegt sich, am 1. Januar 2023 ist es mit dem vollen Inkrafttreten soweit. Dem Schritt in die praktische Anwendung geht bereits vielfältige kritische…

Relationship Agreements zwischen Vertragsfreiheit und zwingendem Aktienrecht

Relationship agreements between listed companies and large shareholders have gained in popularity over the past years. Relationship agreements cover such topics as the shareholder’s representation on the board of directors, voting at shareholder meetings, the shareholder’s right to receive information from the company, and exit provisions (e.g., lock-up and standstill undertakings). From the…

Funktion(en) des Aktienrechts – vom Organisationsrecht zum Katalysator der Gesellschaftspolitik?

Swiss Corporate Law (Articles 620 et seq. of the Swiss Code of Obligations) is undergoing permanent changes since the 19^th century. Originally, these articles provided the legal basis for structuring and organizing corporations in the most efficient way – not more; therefore, the main focus was placed on protection of investors (i.e. the legal protection for both shareholders and creditors). Over…

Sacheinlage- und Sachübernahmevertrag

The contribution in kind agreement is a contract not specifically classified in the Swiss Code of Obligations (CO). According to the prevailing legal opinion the contribution in kind agreement has to be interpreted in line with contractual instead of company law principles. It is widely recognised that the contribution in kind agreement has a close affiliation with the contract of exchange. Based…

Der Aktionärbindungsvertrag: Einfache Gesellschaft oder Innominatvertrag?

The present article shows that shareholders agreements are not as of necessity general partnership agreements. As a rule they are rather innominate contracts for which the same rules apply as for nominate contracts, in particular re the questions of consensus, interpretation and amendments. In this respect the real will of the parties is relevant in the first place and only in the second place…

Stimmrechtsaktien zwischen Gestaltungsfreiheit und Minderheitenschutz

A recent controversy around the sale of a controlling stake in a well-known Swiss public company has brought shares with preferential voting rights (Stimm­rechtsaktien, actions à droit de vote privilégié) into the limelight. In spite of the public criticism, there is no empirical evidence that dual-class share structures negatively impact the value of listed companies. While a mandatory «one…