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Minoritetsägarens ultima ratio - Tvångslikvidation och inlösen på grund av majoritetsmissbruk

Carlmark, David LU (2023) LAGF03 20231
Department of Law
Faculty of Law
Abstract
This essay aims at the regulations on compulsory liquidation and redemption due to majority abuse in private limited companies according to ch. 25. Sec-tions 21–23 of the Swedish Companies Act (2005:551), ABL. The provisions were introduced as part of strengthening minority protection in the Companies Act (1975:1385), ABL 1975. In the legal proceedings they are referred to as the "last resort" (ultima ratio) for an oppressed minority. The possibility for the court to appoint a trustee in conjunction with this was introduced in 2002 as an effect of the so-called Trustor affair. These three provisions can be found together under the heading "Compulsory liquidation and redemption due to majority abuse" in ABL.
In the essay, de lege lata and... (More)
This essay aims at the regulations on compulsory liquidation and redemption due to majority abuse in private limited companies according to ch. 25. Sec-tions 21–23 of the Swedish Companies Act (2005:551), ABL. The provisions were introduced as part of strengthening minority protection in the Companies Act (1975:1385), ABL 1975. In the legal proceedings they are referred to as the "last resort" (ultima ratio) for an oppressed minority. The possibility for the court to appoint a trustee in conjunction with this was introduced in 2002 as an effect of the so-called Trustor affair. These three provisions can be found together under the heading "Compulsory liquidation and redemption due to majority abuse" in ABL.
In the essay, de lege lata and case law is examined together with an overview of the other Nordic countries' corresponding provisions. Few cases have been tried in Swedish courts, only one in the courts of appeal and none in the Su-preme Court. For the regulation to be applicable, it is first and foremost re-quired that the majority has used influence by intentionally participating in a violation of ABL, the Annual Accounts Act (1995:1554), ÅRL, or the articles of association. These violations can be of different kinds, but the most com-mon based on the review carried out are unauthorized transfers of value, em-bezzlement, prohibited loans, the right to dividend, deficiencies in formality during board work and general meetings as well as cooperation with a special auditor and deficiencies in the right of access information.
Gaining court approval for compulsory liquidation and redemption due to majority abuse can be associated with difficulties due to the many requisites and that special reasons are required. Pitfalls for a minority owner to be aware of include the fact that the company may be declared bankrupt during the pro-cess, in which case the liquidation must be suspended. In addition, there should be an understanding that legal costs may accrue to this party. (Less)
Abstract (Swedish)
Denna uppsats tar sikte på regleringen om tvångslikvidation och inlösen på grund av majoritetsmissbruk i privata aktiebolag enligt 25 kap. 21–23 § aktiebolagslagen (2005:551), ABL. Bestämmelserna infördes som ett led i att stärka minoritetsskyddet i aktiebolagslagen (1975:1385), ABL 1975. I förarbetena benämns det som den ”sista utvägen” (ultima ratio) för en förtryckt minoritetsägare. Möjligheten för domstolen att i samband med detta tillsätta en syssloman infördes 2002 som en effekt av den så kallade Trustoraffären. Dessa tre bestämmelser återfinns gemensamt i ABL:s 25 kap. under rubriken ”Tvångslikvidation och inlösen på grund av majoritetsmissbruk”.
I uppsatsen utreds gällande rätt tillsammans med en sammanställning av rättsfall samt... (More)
Denna uppsats tar sikte på regleringen om tvångslikvidation och inlösen på grund av majoritetsmissbruk i privata aktiebolag enligt 25 kap. 21–23 § aktiebolagslagen (2005:551), ABL. Bestämmelserna infördes som ett led i att stärka minoritetsskyddet i aktiebolagslagen (1975:1385), ABL 1975. I förarbetena benämns det som den ”sista utvägen” (ultima ratio) för en förtryckt minoritetsägare. Möjligheten för domstolen att i samband med detta tillsätta en syssloman infördes 2002 som en effekt av den så kallade Trustoraffären. Dessa tre bestämmelser återfinns gemensamt i ABL:s 25 kap. under rubriken ”Tvångslikvidation och inlösen på grund av majoritetsmissbruk”.
I uppsatsen utreds gällande rätt tillsammans med en sammanställning av rättsfall samt en översiktlig jämförelse med de övriga nordiska ländernas motsvarande bestämmelser. Få mål har prövats i svensk domstol, endast ett i hovrätterna och inget i Högsta domstolen. För att regleringen ska bli tillämplig krävs först och främst att en majoritetsägare har missbrukat sitt inflytande genom att uppsåtligen medverkat till en överträdelse av ABL, årsredovisningslagen (1995:1554), ÅRL, eller bolagsordningen. Dessa överträdelser kan vara av skilda slag men vanligast förekommande utifrån den gjorda granskningen är otillåtna värdeöverföringar, jäv, förbjudna lån, rätten till vinstutdelning, brister i formalia vid styrelsearbete och bolagsstämma samt samarbete med särskild granskare och brister i insynsrätten.
Att vinna bifall till talan om tvångslikvidation och inlösen på grund av majoritetsmissbruk kan vara förknippat med svårigheter på grund av de många rekvisiten och att särskilda skälen krävs. Fallgropar för en minoritetsägare att vara medveten om är bland annat att bolaget kan komma att försättas i konkurs under processen varvid likvidationen måste avbrytas. Därtill bör det finnas en förståelse för att rättegångskostnader kan komma att tillfalla denne. (Less)
Please use this url to cite or link to this publication:
author
Carlmark, David LU
supervisor
organization
course
LAGF03 20231
year
type
M2 - Bachelor Degree
subject
keywords
Associationsrätt, Aktiebolagsrätt, Tvångslikvidation, Inlösen, Majoritetsmissbruk, Aktiebolag
language
Swedish
id
9116648
date added to LUP
2023-06-29 13:26:39
date last changed
2023-06-29 13:26:39
@misc{9116648,
  abstract     = {{This essay aims at the regulations on compulsory liquidation and redemption due to majority abuse in private limited companies according to ch. 25. Sec-tions 21–23 of the Swedish Companies Act (2005:551), ABL. The provisions were introduced as part of strengthening minority protection in the Companies Act (1975:1385), ABL 1975. In the legal proceedings they are referred to as the "last resort" (ultima ratio) for an oppressed minority. The possibility for the court to appoint a trustee in conjunction with this was introduced in 2002 as an effect of the so-called Trustor affair. These three provisions can be found together under the heading "Compulsory liquidation and redemption due to majority abuse" in ABL.
In the essay, de lege lata and case law is examined together with an overview of the other Nordic countries' corresponding provisions. Few cases have been tried in Swedish courts, only one in the courts of appeal and none in the Su-preme Court. For the regulation to be applicable, it is first and foremost re-quired that the majority has used influence by intentionally participating in a violation of ABL, the Annual Accounts Act (1995:1554), ÅRL, or the articles of association. These violations can be of different kinds, but the most com-mon based on the review carried out are unauthorized transfers of value, em-bezzlement, prohibited loans, the right to dividend, deficiencies in formality during board work and general meetings as well as cooperation with a special auditor and deficiencies in the right of access information.
Gaining court approval for compulsory liquidation and redemption due to majority abuse can be associated with difficulties due to the many requisites and that special reasons are required. Pitfalls for a minority owner to be aware of include the fact that the company may be declared bankrupt during the pro-cess, in which case the liquidation must be suspended. In addition, there should be an understanding that legal costs may accrue to this party.}},
  author       = {{Carlmark, David}},
  language     = {{swe}},
  note         = {{Student Paper}},
  title        = {{Minoritetsägarens ultima ratio - Tvångslikvidation och inlösen på grund av majoritetsmissbruk}},
  year         = {{2023}},
}