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• W2626779898 abstract "The essay concerns the regulations regarding compulsory liquidation due to critical capital deficiency, in particular the personal liability for payment, which can afflict board members in limited liability companies according to Chapter 25, section 18 in the Swedish Companies Act. The personal liability for payment imply a personal, joint and several liability which can be brought up to date if the board members omit to act according to the pattern of actions, outlined by the rules of capital deficiency in Chapter 25, section 13–17 in the Swedish Companies Act. The explicit purpose of the rule is to work as a means of exerting pressure, and force the board members to act according to the rules of capital deficiency. The overall purpose is to protect the creditors in a mandatory way. The main purpose of the essay is to investigate whether the personal liability of payment has lost its function as a means of exerting pressure. There are three legal cases analyzed in the light of this question – NJA 2012 p. 858, NJA 2013 p. 725 and NJA 2014 p. 948. These cases all have significance for the origin of personal liability, but also for the means of exerting pressure. The rules of capital deficiency have been criticized. The reason for this criticism is the complicated formation of the rules. The problem is based partly on the fact that the personal liability is a far-reaching sanction, which can result in severe consequences for board members, and partly on the vagueness about the application of the rules, which risks leading to a misuse. To sum up, the application of the rules is unforeseeable. The different steps according to the pattern of actions, set by the rules of capital deficiency, are discussed by starting with reason to presume critical capital deficiency, stated in Chapter 25, section 13 in the Swedish Companies Act, followed by a review of the origin of personal liability, the means of exerting pressure and the rule’s future. The essay establishes that the regulation often causes problems. The difficulties to apply the rules are mainly because of the vague formation, which leaves a relative wide room for interpretation. The consequence is that the legal position is unclear. In the essay it is established that the function of the personal liability as a means of exerting pressure has lost some of its power. The reason for this seems to be mainly because of the latest legislative development, but also the complications according to the different steps in the pattern of actions. Also, the opinions about the rules are rather different between the legislator, the court and authors of the legal science. A clarification of the rules, both to strengthen the rules function as a means of exerting pressure and to clarify the legal position is desirable. A clarifying could possibly take place by new legislation or case law. In conclusion the essay finds out that the future of the personal liability for payment is doubtful. In some ways the rule’s position is strengthened, in some ways undermined. It remains to be seen in which way the faith of the rules will lead." @default.
• W2626779898 created "2017-06-23" @default.
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• W2626779898 date "2017-01-01" @default.
• W2626779898 modified "2023-09-27" @default.
• W2626779898 title "Personligt betalningsansvar för styrelseledamöter i aktiebolag - ett effektivt påtryckningsmedel eller en regel utan verkan?" @default.
• W2626779898 hasPublicationYear "2017" @default.
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