Shareholder Protection in Close Corporations: Theory, Operation, and Application of Shareholder Withdrawal

This book examines the theory and operation of withdrawal remedies in four jurisdictions: the United States, the United Kingdom, Germany, and Japan. It proposes a model withdrawal remedy that can be applied to any jurisdiction and challenges preconceptions about shareholder remedies.

Format: Hardback
Length: 300 pages
Publication date: 29 September 2022
Publisher: Cambridge University Press

Close corporations, which are legal forms favored by small and medium-sized enterprises, are essential to every major economy's private sector. However, unlike their public corporation counterparts, close corporation minority shareholders have limited exit options and are structurally vulnerable in conflicts with majority or controlling shareholders.

Withdrawal remedies, legal mechanisms allowing aggrieved shareholders to exit companies with monetary claims, are powerful minority shareholder protection mechanisms. This book critically examines the theory and operation of withdrawal remedies in four jurisdictions: the United States, the United Kingdom, Germany, and Japan. Developing and applying a theoretical and comparative framework to the analysis of these jurisdictions, withdrawal remedies propose a model withdrawal remedy that is potentially applicable to any jurisdiction. With its international, functional, and comparative analysis of withdrawal remedies, it challenges preconceptions about shareholder remedies and offers a methodology for comparative corporate law in both scholarship and practice.

Weight: 766g
Dimension: 160 x 236 x 32 (mm)
ISBN-13: 9781108496667