CEU Electronic Theses and Dissertations, 2020
| Author | Penic, Petra |
|---|---|
| Title | The Use Of Shareholders??? Agreement In The U.S. For Inter-Generational Transfer Of Wealth And Allocation Of Control ??? Lessons For Croatia ??? |
| Summary | Shareholders’ agreements (hereinafter: SHAs) are increasingly used in Croatian legal practice despite not being regulated in any statute and there being only a handful of published cases which incidentally mention them. Given the above, I believe it is important to demonstrate what can be accomplished through the use of SHAs, specifically focusing on problems related to the inter-generational transfer of wealth and allocation of control. The latter is one of the burning issues Croatian companies are facing since most of them were formed in the second half of 1990s, and, today, the founders of these companies have reached or are reaching retirement. As a consequence, companies are facing a universal problem: what will happen to the company in the case of a change in control? In this thesis, I canvas the laws and experiences of the U.S., currently one of the most developed legal systems in this respect, and show how SHAs could, as a special instrument, contribute to the growth of businesses and through that to the Croatian economy. What I demonstrate is that Croatia should take advantage of the extensive U.S. practices related to SHAs and start exploiting them as a powerful tool to overcome the issues related to inter-generational transfer of wealth and allocation of control. Using a comparative analysis, I portrait relevant Croatian and U.S. laws and practices, with particular focus on pertaining U.S. cases which Croatia could directly benefit from and which could serve as a benchmark even for drafting prescriptive Croatian laws that would not just impose (mandatory) obligations on but also guide legal subjects. Accordingly, this thesis shows that SHAs are one important technique to ensure the survival and continued operation of a company in the event of the retirement or death of the founding shareholder. |
| Supervisor | Tajti, Tibor |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2020/penic_petra.pdf |
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