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Aktieägaravtal - Om deras obligationsrättsliga verkan

Barrebo, Hanna LU (2017) JURM02 20171
Department of Law
Abstract
When determining the implications of shareholder agreements, both company law and contract law are applicable. At times, it is not always clear which law should take precedent when both are potentially applicable to an issue arising from the agreement. Traditionally, it has been argued that considerations relating to company law do not affect the shareholder’s obligations to each other arising from shareholder agreements. Recently, opinions in legal doctrine have begun to question that view. Increasingly, the discussion is focused on which of ABL’s legal norms restricts the obligations resulting from the shareholders agreement, and according to what regulation(s) their obligations are restricted. These are the points that will be further... (More)
When determining the implications of shareholder agreements, both company law and contract law are applicable. At times, it is not always clear which law should take precedent when both are potentially applicable to an issue arising from the agreement. Traditionally, it has been argued that considerations relating to company law do not affect the shareholder’s obligations to each other arising from shareholder agreements. Recently, opinions in legal doctrine have begun to question that view. Increasingly, the discussion is focused on which of ABL’s legal norms restricts the obligations resulting from the shareholders agreement, and according to what regulation(s) their obligations are restricted. These are the points that will be further investigated in this thesis, with an emphasis on identifying current applicable law. This research will be conducted using the legal dogmatic methodology.

The thesis surmises that the opinions in legal doctrine are mostly consistent in regard to which of the legal norms in the ABL restricts the shareholders obligations arising from the agreement. Common to these legal norms is that they protect external interests, such as creditor interest. However, there are some discrepancies in opinions regarding which regulations confine the shareholder’s responsibilities. The thesis outlines three existing approaches to dealing with contradictions between contractual obligations among shareholders and the legal norms in the ABL. One of these approaches, states that shareholder agreements that contradict absolutely mandatory legal norms (norms protecting external interests) cannot be enacted. According to another view, it is possible to restrict the contractual obligations of shareholders by adjusting the agreement using 36 § AvtL. A third approach proposes that agreements that contradict legal prohibitions in the ABL cannot be enacted. Finally, it is discussed whether the governing principle should be different depending on the party bound by the agreement.

Overall, it appears what is most important in determining shareholder obligations is deciding which interests should be given precedence. The interests involved include protection of external parties, acting in compliance with the rule of law and protection of contractual obligation. The thesis concludes that protecting the rights of external parties and acting in compliance with the rule of law should take precedence over shareholder’s contractual obligations to each other. This is in accordance with the approach that contractual obligations contrary to absolutely mandatory legal norms have no effect. The thesis also concludes that board members cannot stipulate conditions within the agreement contrary to their obligations under the ABL. (Less)
Abstract (Swedish)
Aktieägaravtal existerar i gränslandet mellan aktiebolagsrätt och avtalsrätt. Till följd av det uppkommer svåra frågor om vilken verkan avtalet anses medföra, och vilka faktorer som påverkar ett ställningstagande i frågan. Länge har det hävdats att aktiebolagsrättsliga överväganden inte inverkar på den obligationsrättsliga verkan av aktieägaravtal. Det synsättet har motiverats av en föreställning om att aktiebolagsrätten och avtalsrätten är autonoma rättsområden, som följaktligen inte har med varandra att göra. På senare tid har det framförts åsikter i doktrin emot det synsättet. Idag diskuteras i stället vilka av ABL:s normer som inverkar på den obligationsrättsliga verkan av beslutsbindningar i aktieägaravtal, och vilken grund eller... (More)
Aktieägaravtal existerar i gränslandet mellan aktiebolagsrätt och avtalsrätt. Till följd av det uppkommer svåra frågor om vilken verkan avtalet anses medföra, och vilka faktorer som påverkar ett ställningstagande i frågan. Länge har det hävdats att aktiebolagsrättsliga överväganden inte inverkar på den obligationsrättsliga verkan av aktieägaravtal. Det synsättet har motiverats av en föreställning om att aktiebolagsrätten och avtalsrätten är autonoma rättsområden, som följaktligen inte har med varandra att göra. På senare tid har det framförts åsikter i doktrin emot det synsättet. Idag diskuteras i stället vilka av ABL:s normer som inverkar på den obligationsrättsliga verkan av beslutsbindningar i aktieägaravtal, och vilken grund eller princip som medför att aktieägaravtalets obligationsrättsliga verkan anses inskränkt. Syftet med uppsatsen är att försöka besvara dessa frågor, och fastställa vad som utgör gällande rätt i fråga om aktieägaravtals obligationsrättsliga verkan. I arbetet används en rättsdogmatisk metod.

I uppsatsen framgår att det råder relativt stor enighet i doktrin om vilka av ABL:s normer som inverkar på aktieägaravtals obligationsrättsliga verkan. Gemensamt för dessa normer är att de uppbär externa intressen, t.ex. borgenärsintresset. Det råder större oenighet om på vilket sätt dessa normer inverkar på avtalet, och vilken rättsföljd som följer av att avtala i strid med normerna. I uppsatsen redogörs för olika sätt att besvara dessa frågor. Ett synsätt innebär att avtalsvillkor som strider mot absolut obligatoriska normer (vilket är normer som uppbär externa intressen) saknar verkan. Enligt ett annat synsätt är det möjligt att inskränka aktieägaravtalets obligationsrättsliga verkan genom att jämka det enligt 36 § AvtL. Enligt ett tredje synsätt har avtal som strider mot legala förbud i ABL inskränkt obligationsrättslig verkan. Det anses följa av principen om avtal i strid mot lag. Slutligen diskuteras även om särskilda överväganden är påkallade beroende på vilken aktör bindningen avser.

I analysen diskuteras de synsätt som redogörs för i uppsatsens deskriptiva del. Av diskussionen framgår att de intressen som vägs mot varandra är intresset av att aktieägare inte ska kunna binda sig vid avtalsvillkor som går ut på att åsidosätta externa intressen, intresset av att upprätthålla avtalsbundenhet, och intresset av en rättssäker rättsordning. Slutligen konstateras att dessa intressen bäst tillgodoses om avtalsvillkor som strider mot absolut obligatoriska normer frånkänns obligationsrättslig verkan. I fråga om styrelseledamotsbindningar konstateras att dessa saknar obligationsrättslig verkan, om de strider mot styrelseledamotens skyldigheter enligt ABL. (Less)
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author
Barrebo, Hanna LU
supervisor
organization
course
JURM02 20171
year
type
H3 - Professional qualifications (4 Years - )
subject
keywords
allmän avtalsrätt, associationsrätt, aktiebolagsrätt, avtalsrätt, obligationsrätt, aktieägaravtal, verkan
language
Swedish
id
8908996
date added to LUP
2017-06-12 18:41:34
date last changed
2017-06-12 18:41:34
@misc{8908996,
  abstract     = {When determining the implications of shareholder agreements, both company law and contract law are applicable. At times, it is not always clear which law should take precedent when both are potentially applicable to an issue arising from the agreement. Traditionally, it has been argued that considerations relating to company law do not affect the shareholder’s obligations to each other arising from shareholder agreements. Recently, opinions in legal doctrine have begun to question that view. Increasingly, the discussion is focused on which of ABL’s legal norms restricts the obligations resulting from the shareholders agreement, and according to what regulation(s) their obligations are restricted. These are the points that will be further investigated in this thesis, with an emphasis on identifying current applicable law. This research will be conducted using the legal dogmatic methodology.

The thesis surmises that the opinions in legal doctrine are mostly consistent in regard to which of the legal norms in the ABL restricts the shareholders obligations arising from the agreement. Common to these legal norms is that they protect external interests, such as creditor interest. However, there are some discrepancies in opinions regarding which regulations confine the shareholder’s responsibilities. The thesis outlines three existing approaches to dealing with contradictions between contractual obligations among shareholders and the legal norms in the ABL. One of these approaches, states that shareholder agreements that contradict absolutely mandatory legal norms (norms protecting external interests) cannot be enacted. According to another view, it is possible to restrict the contractual obligations of shareholders by adjusting the agreement using 36 § AvtL. A third approach proposes that agreements that contradict legal prohibitions in the ABL cannot be enacted. Finally, it is discussed whether the governing principle should be different depending on the party bound by the agreement.

Overall, it appears what is most important in determining shareholder obligations is deciding which interests should be given precedence. The interests involved include protection of external parties, acting in compliance with the rule of law and protection of contractual obligation. The thesis concludes that protecting the rights of external parties and acting in compliance with the rule of law should take precedence over shareholder’s contractual obligations to each other. This is in accordance with the approach that contractual obligations contrary to absolutely mandatory legal norms have no effect. The thesis also concludes that board members cannot stipulate conditions within the agreement contrary to their obligations under the ABL.},
  author       = {Barrebo, Hanna},
  keyword      = {allmän avtalsrätt,associationsrätt,aktiebolagsrätt,avtalsrätt,obligationsrätt,aktieägaravtal,verkan},
  language     = {swe},
  note         = {Student Paper},
  title        = {Aktieägaravtal - Om deras obligationsrättsliga verkan},
  year         = {2017},
}