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Aktionärsschutz in der AG falsch verstanden? Die Leica-Entscheidung des LG Frankfurt am Main

Author

Listed:
  • Scholl, Wolfgang
  • Schanz, Kay-Michael

Abstract

This article analyses the recent Leica judgement of the Higher Regional Court Frankfurt/Main and its consequences. In this judgement, the court has established an infringement of special formal requirements with respect to Leica´s invitation to the Annual General Meeting which, if correct, would bear dire consequences for a variety of listed companies, even in DAX. On the other hand, there is a recent decision of the Higher Regional Court Munich in a similar case concerning Hypovereinsbank, coming to the opposite conclusion. Besides the fact that, in the opinion of the authors, the Leica decision not only is legally unfounded and based on a completely unbalanced evaluation of formalistic requirements, it again proves the formalistic approach of German stock corporation law and leaves companies, especially with a respective regulation in their articles of association, their advisors and investors in a situation of uncertainty that has to be clarified urgently by the legislator.

Suggested Citation

  • Scholl, Wolfgang & Schanz, Kay-Michael, 2008. "Aktionärsschutz in der AG falsch verstanden? Die Leica-Entscheidung des LG Frankfurt am Main," Frankfurt School - Working Paper Series 104, Frankfurt School of Finance and Management.
    • Handle: RePEc:zbw:fsfmwp:104
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    Citations

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    Cited by:

    1. Herrmann-Pillath Carsten, 2014. "Naturalizing Institutions: Evolutionary Principles and Application on the Case of Money," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 234(2-3), pages 388-421, April.
    2. Hübsch, Arnd & Walther, Ursula, 2012. "The impact of network inhomogeneities on contagion and system stability," CPQF Working Paper Series 32, Frankfurt School of Finance and Management, Centre for Practical Quantitative Finance (CPQF).
    3. Behley, Dustin & Leyer, Michael, 2011. "Evaluating concepts for short-term control in financial service processes," Frankfurt School - Working Paper Series 183, Frankfurt School of Finance and Management.
    4. Kostka, Genia & Moslener, Ulf & Andreas, Jan G., 2011. "Barriers to energy efficiency improvement: Empirical evidence from small-and-medium sized enterprises in China," Frankfurt School - Working Paper Series 178, Frankfurt School of Finance and Management.

    More about this item

    Keywords

    Annual general meeting; invitation; power of attorney; authorization; written form; Leica; Hypovereinsbank; Wella;
    All these keywords.

    JEL classification:

    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
    • K19 - Law and Economics - - Basic Areas of Law - - - Other
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • K29 - Law and Economics - - Regulation and Business Law - - - Other

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