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Latest Article<\/h2>\n
\u2018At Least\u2019 the Registered Office. Regulatory Arbitrage, European Company Law, and the Role of Harmonization<\/p>\n
Prof. PhD <\/span>Nicola DE LUCA<\/b><\/p>\nVanvitelli University and Luiss University Rome<\/p>\n
<\/p>\n
Abstract: Analysing the wording of art. 86b Dir. (EU) 1132\/2017, passed in 2019 and to be<\/em> implemented by 2023, the article addresses the issue of connecting factors for companies in<\/em> Europe, as elements capable of defining their nationality and, therefore, the applicable law.<\/em><\/p>\nIt is argued that the mentioned rule has in fact superseded that of the affirmed equivalence<\/em> before the treaty, as connecting factors, of the registered office, the location of the central<\/em> administration or the principle place of business, granting prevalence to the first factor: this<\/em> puts in serious doubts the viability of the real seat criterion, still adopted by some Member<\/em> States. <\/em><\/p>\nIndeed, the authority of Member States to impose their own corporate legislation on<\/em> foreign or even formally foreign companies, as shown in the recent case relating to the Tor<\/em> Crescenza Castle (Edil Work), can only be an exception, permissible if motivated by<\/em> overriding reasons in the public interest. Thus, the risk of a race to the bottom between legal<\/em> systems, discussed in the US, arises in Europe too, as is demonstrated, e.g., by the emigration<\/em> of Italian listed companies to the Netherlands in search for a more favourable legislation<\/em> granting multiple votes to shareholders not holding a real majority. <\/em><\/p>\nAn issue on which a<\/em> harmonisation at EU level may be desirable, in an attempt to avoid spontaneous convergence<\/em> on rules potentially harmful for minorities.<\/em><\/p>\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”1″ _builder_version=”4.16″ width=”90%” max_width=”1200px” custom_padding=”0px||0px|||” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_button button_url=”http:\/\/businesslawjournal.rsbl.ro\/wp-content\/uploads\/2026\/01\/02_-Nicola-de-Luca.pdf” url_new_window=”on” button_text=”Read Full Article” button_alignment=”right” button_alignment_tablet=”left” button_alignment_last_edited=”off|tablet” _builder_version=”4.25.1″ custom_button=”on” button_text_size=”14px” button_bg_color=”#000000″ button_border_color=”rgba(0,0,0,0)” button_border_radius=”0px” button_letter_spacing=”2px” button_font=”|700||on|||||” button_icon=”$||divi||400″ background_layout=”dark” custom_padding=”50px|40px|50px|40px|true|true” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ global_colors_info=”{}”][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Message” _builder_version=”4.16″ custom_padding=”3px||2px|||” global_colors_info=”{}”][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Categories” _builder_version=”4.16″ min_height=”1034px” custom_padding=”||0px|||” locked=”off” global_colors_info=”{}”][et_pb_row column_structure=”2_3,1_3″ make_equal=”on” _builder_version=”4.16″ custom_margin=”|auto||159px||” global_colors_info=”{}”][et_pb_column type=”2_3″ _builder_version=”4.16″ background_image=”http:\/\/businesslawjournal.rsbl.ro\/wp-content\/uploads\/2022\/12\/home-organizer-05.jpg” custom_padding=”|50px||50px|false|true” custom_padding_tablet=”” custom_padding_phone=”|0px||0px|false|true” custom_padding_last_edited=”on|phone” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ text_font=”||on||||||” text_font_size=”16px” text_line_height=”2em” header_2_font=”Cardo|700|||||||” header_2_font_size=”72px” header_2_line_height=”1.2em” header_4_font=”Montserrat|700|||||||” header_4_text_color=”#ffc077″ header_4_font_size=”30px” header_4_line_height=”1.4em” background_color=”#ffffff” width=”100%” max_width=”480px” custom_margin=”|-44px||||” custom_padding=”10px|10px|10px|10px|false|true” custom_padding_tablet=”” custom_padding_phone=”0px|0px|0px|0px|true|true” custom_padding_last_edited=”on|phone” header_2_font_size_tablet=”48px” header_2_font_size_phone=”36px” header_2_font_size_last_edited=”on|desktop” header_4_font_size_tablet=”24px” header_4_font_size_phone=”22px” header_4_font_size_last_edited=”on|tablet” locked=”off” global_colors_info=”{}”]<\/p>\n
A Message From Our Editor<\/h4>\n
“European Business Law Journal is a common project of the Romanian Society of Business Law and Faculty of Law from the Bucharest University of Economic Studies, edited and published at ASE Publishing House (Editura ASE) and it engages a dynamic team of scholars and practitioners from the field of business law<\/p>\n
It was designed as part of the European Business Law platform together with other elements like the International Conference Perspectives of European Business Law organised by the same institutions annually, in March at the Bucharest University of Economic Studies, the study programmes focused on business law at EU level, with courses like Business Law, European Business Law, European Company Law, The European Contract Law and Single Market at Bachelor, the Master on European Business Law or postgraduate studies in tax, criminal business law, competition or other similar fields.<\/p>\n
The Journal will offer the possibility to experts in the filed to express their new ideas and opinions on the latest developments in European Business law environment.<\/p>\n
The papers can be either submitted though this website or selected from the annual events, in both cases being followed the peer review procedure of the Journal and obeyed the ethics requirements.<\/p>\n
I invite all scholars and practitioners interested to communicate their latest insights in the field of European Business Law to send us their papers, to contact us in case they have any inquiries and to follow our activity on social media and website! “<\/p>\n
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EUROPEAN UNION LAW<\/strong><\/span><\/h3>\n[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.16″ background_image=”http:\/\/businesslawjournal.rsbl.ro\/wp-content\/uploads\/2022\/12\/5D4_0028-scaled.jpg” custom_padding=”380px|40px|20px|40px|false|true” custom_padding_tablet=”20vw|20px||20px|false|true” custom_padding_phone=”40vw||||false|true” custom_padding_last_edited=”on|phone” link_option_url=”#” box_shadow_style=”preset3″ box_shadow_vertical=”0px” box_shadow_blur=”0px” box_shadow_spread=”0px” box_shadow_color=”rgba(0,0,0,0)” box_shadow_vertical_last_edited=”off|desktop” global_colors_info=”{}” background__hover_enabled=”on|hover” use_background_color_gradient__hover=”on” background_color_gradient_start__hover=”rgba(0,0,0,0)” background_color_gradient_end__hover=”rgba(0,0,0,0.73)” background_color_gradient_overlays_image__hover=”on” box_shadow_vertical__hover=”40px” box_shadow_vertical__hover_enabled=”on|hover” box_shadow_blur__hover=”90px” box_shadow_blur__hover_enabled=”on” box_shadow_spread__hover=”-30px” box_shadow_spread__hover_enabled=”on” box_shadow_color__hover=”rgba(255,159,87,0.51)” box_shadow_color__hover_enabled=”on” transform_styles__hover_enabled=”on|hover” transform_scale__hover=”103%|103%” transform_scale__hover_enabled=”on|hover” transform_translate__hover_enabled=”on|hover” transform_rotate__hover_enabled=”on|hover” transform_skew__hover_enabled=”on|hover” transform_origin__hover_enabled=”on|hover” background_color_gradient_stops__hover=”rgba(0,0,0,0) 0%|rgba(0,0,0,0.73) 100%”][et_pb_text _builder_version=”4.16″ global_colors_info=”{}”]<\/p>\n
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BANKING &FINANCIAL LAW<\/strong><\/span><\/h3>\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Shop” _builder_version=”4.16″ background_enable_color=”off” use_background_color_gradient=”on” background_color_gradient_direction=”90deg” background_color_gradient_stops=”#ffffff 42%|rgba(0,0,0,0) 42%” background_color_gradient_overlays_image=”on” background_color_gradient_start=”#ffffff” background_color_gradient_start_position=”42%” background_color_gradient_end=”rgba(0,0,0,0)” background_color_gradient_end_position=”0%” background_image=”http:\/\/businesslawjournal.rsbl.ro\/wp-content\/uploads\/2022\/12\/ase_07102022-29-scaled.jpg” background_position=”center_right” custom_padding=”||0px|||” locked=”off” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ locked=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ header_2_font=”Montserrat|700|||||||” header_2_text_color=”#000000″ header_2_font_size=”70px” header_2_line_height=”1.2em” max_width=”750px” header_2_font_size_tablet=”48px” header_2_font_size_phone=”36px” header_2_font_size_last_edited=”on|desktop” global_colors_info=”{}”]<\/p>\n
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Co-edited and published by ROMANIAN SOCIETY OF BUSINESS LAW\u00a0&\u00a0EDITURA ASE ISSN: \u00a02971 – 9224 E-ISSN: 2971 – 9224 Google Scholar CrossRefEUROPEAN BUSINESS LAW JOURNALJournalNUMBER 1\/2022NUMBER 1\/2023NUMBER 2\/2023NUMBER 1\/2024NUMBER 2\/2024NUMBER 1\/2025International Databases IndexationLatest Article \u2018At Least\u2019 the Registered Office. Regulatory Arbitrage, European Company Law, and the Role of Harmonization Prof. PhD Nicola DE LUCA Vanvitelli University […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"_links":{"self":[{"href":"https:\/\/businesslawjournal.rsbl.ro\/index.php\/wp-json\/wp\/v2\/pages\/9"}],"collection":[{"href":"https:\/\/businesslawjournal.rsbl.ro\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/businesslawjournal.rsbl.ro\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/businesslawjournal.rsbl.ro\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/businesslawjournal.rsbl.ro\/index.php\/wp-json\/wp\/v2\/comments?post=9"}],"version-history":[{"count":63,"href":"https:\/\/businesslawjournal.rsbl.ro\/index.php\/wp-json\/wp\/v2\/pages\/9\/revisions"}],"predecessor-version":[{"id":543,"href":"https:\/\/businesslawjournal.rsbl.ro\/index.php\/wp-json\/wp\/v2\/pages\/9\/revisions\/543"}],"wp:attachment":[{"href":"https:\/\/businesslawjournal.rsbl.ro\/index.php\/wp-json\/wp\/v2\/media?parent=9"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}