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Full-Text Articles in Law
Changing Paradigms: The Liability Of Corporate Groups In Germany, René Reich-Graefe
Changing Paradigms: The Liability Of Corporate Groups In Germany, René Reich-Graefe
Faculty Scholarship
The German law on affiliated companies and groups of companies ("Konzernrecht"), as embodied in the German Stock Corporation Act of 1965, as amended ("Aktiengesetz"), has often been credited for its innovative approach to the dichotomy of liability strategies relevant to corporate groups-viz., the traditional concept of entity liability based on the fundamental doctrine of the legal separateness of the corporate entity and, accordingly, resulting in a limitation of investor liability as the rule, and discrete and rare occurrences of what is almost poetically designated the "piercing of the corporate veil" ("DurchgriffshaJtung") as narrow and reluctantly crafted exceptions, and the more …
Bank Mergers In North America: Comparing The Approaches In The United States And Canada, Eric J. Gouvin
Bank Mergers In North America: Comparing The Approaches In The United States And Canada, Eric J. Gouvin
Faculty Scholarship
This Article provides a summary comparison of the processes in the United States and Canada for governmental approval of bank mergers. The topic came to prominence in 1998 when four of Canada's five largest banks unveiled plans that would have resulted in the Royal Bank of Canada merging with the Bank of Montreal and the Toronto Dominion Bank combining with the Canadian Imperial Bank of Commerce ("CIBC"). These proposed mergers were rejected by the then Finance Minister, Paul Martin. The reasons given included: (1) the resulting banking industry structure would have concentrated too much economic power in the hands of …