Full Description
This book examines delisting — and the difficult questions it raises around investor protection — from the perspectives of the company, shareholders, trading venues, and supervisory authorities.
Delisting is analysed with a view to finding common ground in the EU, and exploring whether delisting should be part of the EU project of a Capital Markets Union. In order to answer the question of harmonisation at the European level, the book also considers approaches in jurisdictions outside Europe. In particular, the book looks at the legal situation in Australia, Hong Kong, India, South America and the USA.
Offering a comprehensive and authoritative discussion of the major questions for listed companies who want to go private, the book will be of great interest to academics, lawmakers, supervisors, lawyers and judges.
The book's companion website (bloomsbury.pub/delisting-stock-corporations) provides access to reports and questionnaires on specific EU member states.
Contents
Part I: Fundamentals of Delisting
1. Delisting in EU Capital Markets Law: Forms, Goals and Rationales, Vassilios Tountopoulos (University of the Aegean, Greece)
2. Delisting in the Light of the ECHR, Ioannis Ktistakis (University of Thrace, Greece)
Part II: Voluntary Delisting in EU Member States
3. Voluntary Delisting and Shareholder Protection from a Corporate Law Perspective, Christoph Van der Elst (Tilburg University, the Netherlands)
4. Voluntary Delisting: Procedures and Shareholder Protection Under Takeover Law, Andrés Recalde (Autonomous University of Madrid, Spain) and Mikel Ataun (Lawyer, Spain)
5. Mechanisms of Ex Post Shareholder Protection, Paolo Giudici (University of Bolzano, Italy)
Part III: Perspectives of Delisting in EU Member States
6. Delisting from the Company's Perspective - Corporate Governance, Athanasios Kouloridas (Athens University of Economics, Greece)
7. Delisting - The Perspective of the Trading Venue - Market Rules, Katrin Deckert (Association nationale des Sociétés par Actions, France) and Anna-Lena Vogt (LMU Munich, Germany)
8. Mandatory Delisting of Stock Corporations in the Shadow of Hierarchy: The Role of Public Authorities, Heikki Marjosola (University of Helsinki, Finland)
9. Delisting in the Issuer's Insolvency, Jens-Hinrich Binder (University of Tübingen, Germany)
10. Perspectives of the Banks: Delisting Financing and Servicing, Ioannis E Linaritis (Democritus University of Thrace, Greece)
Part IV: Delisting and Corporate Mobility in EU Member States
11. Downlisting, Gaia Balp (Bocconi University, Italy)
12. Delisting Rules and EU Capital Markets Integration, Carsten Gerner-Beuerle and Jonathan Chan (University College London, UK)
13. Cold Delistings, Elif Härkönen and Jessica Östberg (Linköping University, Sweden)
Part V: Global Perspectives
14. Delisting in the United States, Martin Gelter and Steve Thel (Fordham University, USA)
15. Delisting in Australia, Pamela Hanrahan (University of New South Wales, Australia)
16. Delistings in Hong Kong, Chee Keong Low (Chinese University of Hong Kong) and Tak Yip Low (University College London, UK)
17. Delisting in India, Harpreet Kaur (National Law University Jodhpur, India)
18. Delisting in Colombia, with Reference to Argentinean and Chilean Regulation, Juan Pablo González Mejía (Cornell University, USA)
Part VI: Conclusions
19. Common Grounds on Delisting, Ulrich Torggler and Daniel Mert Yilmaz (University of Vienna, Austria)
20. Delisting of Stock Corporations: Legal Fragmentation, Competition and Harmonisation Strategies, Rüdiger Veil (University of Munich, Germany)
