Short Reads

State Intervention and the Rights of Shareholders

State Intervention and the Rights of Shareholders

State Intervention and the Rights of Shareholders

18.01.2017 EU law

In its judgment dated 8 November 2016, the European Court of Justice (the “ECJ”) decided the issue of whether the Irish government violated certain fundamental provisions of corporate law by (i) increasing the capital, lowering the nominal value and amending the articles of association of Permanent TSB plc, formerly Irish Life and Permanent plc (“ILP”), a credit institution operating in Ireland, without the approval of ILP’s shareholders, and (ii) issuing new shares without respecting the pre-emptive rights of ILP’s existing shareholders.

The ECJ ruled that the rights that shareholders have pursuant to the Second Council Directive 77/91/EEC do not preclude a measure that is adopted where there is a serious disturbance to the economy and the financial system of a Member State that threatens the financial stability of the European Union.

Team

Related news

07.06.2018 NL law
Introduction of Green Loan Principles

Short Reads - Green finance and sustainable finance are trending topics. After green bonds becoming an increasingly common financing instrument, there is a growing demand by borrowers for green loans. For lenders on the other hand, also in view of various recent initiatives of the European Union in respect of sustainability, participation in (syndicated) green loans is expected to become more important within the investment criteria of a financial institution.

Read more

25.04.2018 EU law
25 April 2018: Stibbe sponsors LPEA Insights conference in Luxembourg on 'Building the Real Economy'

Conference - LPEA, Luxembourg Private Equity and Venture Capital Association, organises a conference in Luxembourg, which brings on stage General Partners (GPs) and Limited Partners (LPs) to discuss and showcase the private equity sector from the perspective of local practitioners, together with additional contributions from guest speakers specially invited to the event. Stibbe Luxembourg is a proud sponsor of this event, which some of our lawyers will attend.  

Read more

Our website uses cookies: third party analytics cookies to best adapt our website to your needs & cookies to enable social media functionalities. For more information on the use of cookies, please check our Privacy and Cookie Policy. Please note that you can change your cookie opt-ins at any time via your browser settings.

Privacy – en cookieverklaring