Petrin, M; (2018) Some Thoughts on Control and Liability in Corporate Groups. Zeitschrift für Japanisches Recht , 12 pp. 127-142.

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Abstract

In the following essay, I will strive to focus on two fundamental questions of contemporary corporate governance. First, the status of corporate groups under corporate law. Second, and relatedly, the question as to the ideal liability regime applicable to corporate groups and the individuals behind them. The discussion is based on my remarks on presentations by Professor Moritz Bälz on ‘The German System of Group Company Control’ and Toshikazu Miyoshi on ‘Shareholder Control over Subsidiaries in Japan’ given as part of the celebration in honour of the 25th anniversary of the University College of London Law Faculty’s Chair of Japanese Law, Professor Hiroshi Oda. Given my status as a non-expert in Japanese law, the reader will forgive me that the observations will be based mostly on Anglo-American law, with any references to Japanese law limited mostly to my knowledge of what Japan does not have: a dedicated law governing corporate groups. But Japan, of course, is not alone in this respect and the governance of corporate groups is a universal question, which is why I hope that this essay will provide some stimulating ideas for lawyers of any background and jurisdiction.

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