The Analysis of the 2015 Amendments to the L... / ID: 591627

Akcijas un īpašie piedāvājumi 2 Atvērt

Autors: kristiinee (33)

Vērtējums:

Publicēts: 01.09.2015.

Valoda: Angļu

Līmenis: Augstskolas

Literatūras saraksts: 48 vienības

Atsauces: Ir

Izvērst priekšskatu

SatursAizvērt

Nr.	Sadaļas nosaukums	Lpp.
	Summary	1
	Table of abbreviations	5
	Introduction	6
1.	The institute of limited liability	7
1.1.	Historical overview	7
1.1.1.	The Roman law	7
1.1.2.	Byzantine Chreokoinonia	8
1.1.3.	Medieval law	8
1.1.4.	Early Modern Denmark and England	8
1.1.5.	Modern period in the United States	9
1.1.6.	Summary of the chapter	10
1.2.	The purpose of limited liability	10
1.2.1.	Stimulus and diversification of investment	10
1.2.2.	Cost saving	11
1.2.3.	Transferable shares as an equivalent	11
1.2.4.	Creditor scrutiny and optimal risk-taking	12
1.2.5.	Summary of the chapter	12
1.3.	The main exceptions from the liability protection – a comparative research	12
1.3.1.	Germany	13
1.3.2.	The United Kingdom	15
1.3.3.	Netherlands	17
1.3.4.	Latvia	19
1.3.5.	Summary of the chapter	21
2.	The business judgment rule	23
2.2.	Analysis of the case law on handing over insolvent companies’ documents	25
2.3.	Analysis of the case law on the recovery of tax debts form MBDs	26
2.4.	Summary of the chapter	26
3.	Analysis of the Amendments	27
3.1.	The Article 72.1 of the Latvian Insolvency Law	27
3.1.1.	The aim of the Article 72.1 of the Latvian Insolvency Law	28
3.1.2.	The analysis of the Article 72.1 of the Latvian Insolvency Law	28
3.1.3.	Summary of the chapter	30
3.2.	The chapter XI of the Latvian Law on Taxes and Fees	30
3.2.1.	The aim of the chapter XI to the Latvian Law on Taxes and Fees	32
3.2.2.	The analysis of the chapter XI to the Latvian Law on Taxes and Fees	32
3.2.3.	Summary of the Chapter	36
	Conclusion	37
	Bibliography	39
	Annex 1	44
	Annex 2	45
	Annex 3	46
	Annex 4	47
	Figure 1	48

Darba fragmentsAizvērt

Conclusion
The purpose of this bachelor theses was to determine whether the Amendments are appropriate instruments to achieving their intended goals that are set in the reports on the initial assessment of proposed Amendments (annotations). In other words, the author intended to find out, will the Amendments prevent MBDs from abusing their limited liability or rather trigger further circumvention and ignorance of the law, hence deteriorating the overall economic development of the country.
The author’s hypothesis was that the Amendments are inappropriate instruments and will cause further circumvention and ignorance of the law, and will be detrimental to the Latvian economy.
The first part of this thesis was devoted to the establishment of the criteria for the analysis of the Amendments. It was found that the main principle of the liability protection is the stimulus of investment though a decrease in costs of doing business, an opportunity to diversify investment and a guarantee of optimal risk-taking.
The analysis of the conditions under which MBDs can be exempt from the liability protection in other jurisdictions was performed, and it showed that these condition should be consistent with the main principle of limited liability. The Amendments are also such conditions and therefore too have to be in line with the principle. However, it is expected that the Amendments will discourage people from becoming MBDs and trigger emigration of Latvian companies, therefore decreasing investment in Latvia. Moreover, these norms will again put MBDs in a position where they have to control every step of their managing agents. Hence, the Amendments are against the stimulus of investment, diversification and cost saving principles of the liability protection. Consequently, the evolutionary development of the institute of limited liability is going in the backwards direction as even the Roman law, Byzantine Chreokoinonia etc. tried to make investment in business activity attractive and therefore provided for incentives to encourage people to perform such an activity. Latvian law, conversely, makes the post of a MBD highly unattractive.
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