Stakeholder Protection in Restructuring

Restructuring of companies, particularly merger and division both domestically or in a cross-border situation, has far-reaching consequences for all stakeholders. The contributions focus on the question of how to protect the interests of shareholders, creditors and employees at a European and national level appropriately. The articles discuss how to promote freedom of establishment in the growing competition between legal systems without encouraging a race to the bottom in the company and labour law framework. The cross-border conversion of companies is particularly delicate in this regard. From the workers' point of view, it is decisive whether a restructuring constitute a transfer of undertaking and which labour law consequences a transfer has. Another particularly interesting aspect is the fate of the board-level employee representation in case of corporate restructuring. The papers shed light on European developments and some selected national manifestations of these issues. The authors are distinguished Austrian, German, Italian, Spanish, Polish, Serbian and Macedonian professors who specialise in company and labour law.