The corporate mobility and movement of capital in the jurisprudence of the Court of Justice of the European Union
DOI:
https://doi.org/10.51302/ceflegal.2014.11407Keywords:
intraeuropean corporate mobility, freedom of establishment of companies, European Company Law, European Court of JusticeAbstract
The European Union has as one of its main objectives the economic integration of its members in a European internal market, consequently the European Treaties provide for a number of economic principles whose objectives are, among others, to ensure a level playing field between competitors . In the case of economic activities developed by a company organized as a corporation, one of the main objectives of the Community legislature is to establish mechanisms for intra-EU mobility of these companies, as well as ensure the movement of capital of these companies. In the first section , this paper addresses the issue of freedom of establishment, legal constraints and especially , how and to what extent the interpretation of national laws, made by the European Court of Justice, has set the rhythm of a gradual opening in corporate mobility underlining the dangers that a lack of clear policy could bring particularly for the interests of the stakeholders of the companies involved. Thus, the analysis begins with the first restrictive interpretations to conclude with the current broader interpretation of the meaning of freedom of establishment by the ECJ, who thanks to the stagnant harmonizing process and content changes to the EU Treaties, has been allowed to acquire a true status of Judicial-review body of national legislators, with the advantages and risks involved. The latter is particularly underlined in the third section of this paper, where we study the interpretation that the Court has taken of the compatibility of the rules of national law with European principles of movement of capital. And where it is highlighted the need to revisit the legislative route in pursuit of genuine consensus legislation that gives legal certainty to business transactions.
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