1. bookVolume 1 (2021): Issue 1 (June 2021)
Journal Details
License
Format
Journal
eISSN
2744-1687
First Published
17 Jul 2021
Publication timeframe
2 times per year
Languages
English
access type Open Access

Groups of Companies and Liability within the Group

Published Online: 17 Jul 2021
Volume & Issue: Volume 1 (2021) - Issue 1 (June 2021)
Page range: 61 - 81
Received: 19 Apr 2021
Accepted: 30 May 2021
Journal Details
License
Format
Journal
eISSN
2744-1687
First Published
17 Jul 2021
Publication timeframe
2 times per year
Languages
English
Abstract

Groups of companies have existed ever since the early 20th century in the legal and economic terms. Over time, their concept was complemented, both in legislation and in the corporate practice. The issue of establishing and managing groups of companies is regulated by the corporate legislation. It particularly regulates the concept of the controlling and subsidiary company, company with mutual shares, holding, concern, association of companies and other forms of company associations. In terms of the legal definition, these are associated companies composed of two or more companies that are affiliated to each other as follows: by share in equity or membership interests (equity-related companies), by contract (contract-related companies); by equity and contract (mixed-related companies). These associated companies include a parent company and one or more subsidiary companies, which may be related by equity, contract or both. Besides the general concept of the associated companies, the author aims to point to the liability in a common activity as a group of companies. A particular attention is drawn to the legal treatment and obligations resulting from the International Accounting Standards and binding financial statements related to them.

Keywords

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