CEU Electronic Theses and Dissertations, 2019
| Author | Zhandossova, Zhanar Zhandoskyzy |
|---|---|
| Title | Shareholder`s Right to Litigate in the US, Germany and Kazakhstan: Comparative Analysis |
| Summary | The most important principles of corporate governance under modern conditions include the principle of ensuring the protection of shareholders' rights and the principle of equal treatment of all groups of shareholders, including minority and foreign shareholders, guaranteeing equally effective protection to each of them in case of violation of their rights. In the US, protection of shareholders` rights to litigate is ensured by direct and derivative actions allowing the shareholders not only to sue the director of the company but also a third party on behalf of the corporation. Protection of shareholders` rights through derivative instrument also exists in most European countries, however with some differences, such as `lawsuit admission procedure` in Germany. Nowadays, there is a rapid development of corporate governance in Kazakhstan which requires, as a priority, the activation of the responsibility mechanism of directors and, subsequently, the protection of shareholders' rights from the unfair activities of directors. Existing law of the Republic of Kazakhstan on Join Stock Companies does not allow us to speak about any effective exercise of shareholders` rights to litigate. The main purpose of this thesis is to find out whether shareholders of Kazakhstan are able to litigate and if there is any limitation in exercising of these rights. Furthermore, this paper is also going to investigate the existing mechanisms used in foreign countries in particular through comparative legal analysis in three jurisdictions: the US, Germany and Kazakhstan. Advantages and disadvantages of instruments exercised in protecting shareholders` rights in the US and Germany will be investigated with the possibility of implementing these instruments into the corporate governance system of Kazakhstan. Conducting of this research should contribute to the development and ultimately stabilization of the entire system of corporate relations of companies in Kazakhstan. |
| Supervisor | Lawrence Jessica |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2019/zhandossova_zhanar.pdf |
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