Derivative Claim in the System of Remedies for Corporate Legal Relations
DOI:
https://doi.org/10.34625/issn.2183-2705(34)2023.ic-01Keywords:
legal interest, economic activity, derivative claim, legal entityAbstract
Corporate law has a lot of gaps and shortcomings in the legal doctrine to date. Therefore, it is important to find these shortcomings and propose solutions to eliminate them. The topic of this research includes a derivative claim which ensures the restoration of any person's rights and interests as a party to corporate legal relations. The theoretical and methodological basis includes dialectical, historical, and comparative methods used to study the establishment, development, and functioning of economic entities. The study identified key trends that have emerged in the area of redressing corporate rights, as well as the advantages and disadvantages of applying a derivative claim and the efficiency of the system for redressing the rights of subjects of corporate legal relations. Based on the analysis of the provisions of the world current legislation and experience describing the development of corporate legislation and corporate legal relations, the study identified main trends that have developed in this area, as well as the positive and negative aspects of the application of a derivative claim, and the effectiveness of the system for remedying the rights of subjects of corporate legal relations.
References
Atamanchuk, I. V. 2020. The right to judicial protection of civil rights and interests in the light of European standards. In: Civil law of Ukraine: new challenges and prospects for development: Proccedings of the XVIII International scientific-practical conference dedicated to the 98th anniversary of the birth of dr., prof. V.P. Maslov (pp. 75-78). Kharkiv: Pravo.
Baum, H., Puchniak, D.W. 2012. The derivative action: An economic, historical and practice-oriented approach. In In H. Baum, & D. W. Puchniak (Eds.), The Derivative Action in Asia: A Comparative and Functional Approach (pp. 1-89). Cambridge: Cambridge University Press.
Biliavska, Y., Mykytenko, N., Romat, Y., Biliavskyi, V. 2023. Category management: Industry vs trade. Scientific Horizons, 26(1), 129-150. doi:10.48077/scihor.26(1).2023.129-150
Bodnar, T. V., Dzera, O. V., Kuznetsova, N. S. 2008. Contract law of Ukraine. The general part. Kyiv: Yurinkom Inter.
Borysova, V. I., Ivanova, K. Y., Iurevych, I. V., Ovcharenko, O. M. 2019. Judicial protection of civil rights in Ukraine: National experience through the prism of European standards. Journal of Advanced Research in Law and Economics, 10(1), 66-84.
Cenolli, S., Osmonova, A., Askarova, C., Miller, A. 2023. The role of personnel management in increasing productivity at agricultural enterprises in Mongolia. Scientific Horizons, 26(6), 146-155. doi:10.48077/scihor6.2023.146
Cherevko, N. 2022. Features and legal regulation of the procedure for granting employee consent to work in new working conditions. Law Journal of the National Academy of Internal Affairs, 12(2), 57-63. doi:10.56215/04221202.57
Economic Code of Ukraine. 2003. Available from https://zakon.rada.gov.ua/laws/show/436-15#Text
Galanis, M. 2021. Corporate law versus social autonomy: Law as social hazard. Law and Critique, 32(1), 1-32. doi:10.1007/s10978-020-09267-7
Gibbs-Kneller, D., Gindis, D. 2019. De jure convergence, de facto divergence: A comparison of factual implementation of shareholder derivative suit enforcement in the United States and the United Kingdom. European Business Law Review, 30(6), 909-930.
Gibbs-Kneller, D., Ogbonnaya, C. 2019. Empirical analysis of the statutory derivative claim: De facto application and the sine quibus non. Journal of Corporate Law Studies, 19(2), 303-332. doi:10.1080/14735970.2018.1527651
Gibbs-Kneller, D., Ogbonnaya, C. 2019. Empirical analysis of the statutory derivative claim: de facto application and the sine quibus non. Journal of Corporate Law Studies, 19(2), 303-332.
Hamadziripi, F. 2021. The leave of court requirement for instituting derivative actions in the UK: A ten-year jurisprudential excursion. Potchefstroom Electronic Law Journal, 24, 1-25.
Hamadziripi, F., Osode, P.C. 2022. A Critical Assessment of Pertinent Locus Standi Features of the Derivative Remedy under Zimbabwe's New Companies and Other Business Entities Act. Journal of African Law, 66(2), 315-338.
Kostruba, A. V., Maydanyk, R. A., Luts, V. V. 2020. Bonum requirements of the beneficiary in the corporate rights protection system in Ukraine: Implementing best practices. Asia Life Sciences, 1, 189-207.
Kucher, V. O. 2016. Civil procedure of Ukraine. Lviv: Lviv State University of Internal Affairs.
Labor Code of Ukraine. 1971. Available from https://zakon.rada.gov.ua/laws/show/322-08#Text
Law of Ukraine “On Amendments to Some Legislative Acts of Ukraine relating to Investors' Rights Protection” No. 289-VIII. 2015. Available from https://zakon.rada.gov.ua/laws/show/289-19#Text
Law of Ukraine “On Copyright and Related Rights” No. 3792-XII. 1993. Available https://zakon.rada.gov.ua/laws/show/3792-12#Text
Lutsenko, O. 2017. Bringing civil servants to liability for disciplinary misconduct in judicial practice of Ukraine, Poland, Bulgaria and Czech Republic. Journal of Advanced Research in Law and Economics, 8(1), 103-112.
Macey, J.R. 2008. Corporate Governance: Promises Kept, Promises Broken. Princeton University Press.
Maidanyk, R. A. 2016. Development of private law of Ukraine. Kyiv: Alert.
Mayer, C. 2022. What is wrong with corporate law? the purpose of law and the law of purpose. Annual Review of Law and Social Science, 18, 283-296. doi:10.1146/annurev-lawsocsci-050520-102251
Miao, M., Liu, A., Shi, J. 2019. Corporate law, government intervention and corporate ownership structure. Asian Journal of Law and Economics, 10(3), 0023. doi:10.1515/ajle-2019-0023
Petersone, M., Krastins, A. V., Ketners, K. 2016. In-service training system organization improvement at customs administrations. Eurasian Studies in Business and Economics, 201-216. doi:10.1007/978-3-319-27570-3_17
Reisberg, A. 2009. Derivative Actions and Corporate Governance. Oxford University Press.
Riley, C. A. 2014. Derivative claims and ratification: Time to ditch some baggage. Legal Studies, 34(4), 582-608.
Robinson v. Smith. 1832. Available from https://casetext.com/case/robinson-v-smith-30
Safari, N., Gelter, M. 2019. British home stores collapse: The case for an employee derivative claim. Journal of Corporate Law Studies, 19(1), 43-68. doi:10.1080/14735970.2018.1496780
Sealy, L. S. 1981. Foss v. Harbottle — a marathon where nobody wins. The Cambridge Law Journal, 40(1), pp. 29-33.
Thai, L. 2023. Corporate Governance and Statutory Derivative Actions: Comparative Approach to Shareholder Litigation. London: Routledge.
The Civil Code of Ukraine. 2003. Available from https://zakon.rada.gov.ua/laws/show/435-15#Text
Tomashevski, K., Yaroshenko, O. 2020. Problems of labour legislation codification in belarus and ukraine: History, current situation and prospects. Transition Studies Review, 27(2), 41-49.
Ucaryilmaz Deibel, T. 2022. Corporate social responsibility in the legal framework of global value chains. Law and Development Review, 15(2), 329-356. doi:10.1515/ldr-2021-0098
Vovk, М., Yurkevych, Y. 2022. Legal status of the business entities in Ukraine in the context of changes in current legislation. Law Journal of the National Academy of Internal Affairs, 12(2), 9-15. doi:10.56215/04221202.09
Yaroshenko, O. M., Sliusar, A. M., Sereda, O. H., Zakrynytska, V. O. 2019. Legal relation: The issues of delineation (on the basis of the civil law of Ukraine). Asia Life Sciences, (2), 719-734.
Yaroshenko, O. M., Vapnyarchuk, N. M., Burnyagina, Y. М., Kozachok-Trush, N. V., Mohilevskyi, L. V. 2020. Professional development of employees as the way to innovative country integration. Journal of Advanced Research in Law and Economics, 11(2), 683-695.
Zhornokuy, Yu. M. 2015. Corporate conflicts in joint stock companies: Civil law aspect. Kharkiv: Pravo.
Zhornokuy, Yu. M. 2020. Squeezeout and voluntary share repurchase: law enforcement issues. In: Civil law of Ukraine: new challenges and prospects for development: Proccedings of the XVIII International scientific-practical conference dedicated to the 98th anniversary of the birth of dr., prof. V.P. Maslov (pp. 148-157). Kharkiv: Pravo.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Revista Jurídica Portucalense
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who published in the journal agree to the following terms:
- The Authors grant the Journal the right of first publication, and other non-exclusive publishing rights, licensed under the Creative Commons Attribution License which allows the sharing of work with recognition of its initial publication in this journal.
- Authors are able to take on additional contracts separately, non-exclusive distribution of the version of the paper published in this journal (ex .: publish in an institutional repository or as a chapter in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post and distribute their work online (eg .: in institutional repositories or on their website) at any point before or during the submission process, as it can lead to productive exchanges, as well as increase the impact and the citation of published work (See The Effect of Open Access).
RJP does not apply submission, publication or any other fees of any nature. Its articles are open access, with the goal of disseminating scientific knowledge and the debate of legal topics in the area of Legal Sciences.
