„მეწარმეთა შესახებ“ საქართველოს კანონში ცვლილების შეტანის თაობაზე“

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Greece"' lto63Clrooooo C.ot33bolr 6r6boqr3olr lt36orrts<'r6olro 396$6ob 0oC6 L.:j05bg # 42 ILM 788 (2003)t (',r&I 3r'r03s6os Ooqgbgqro 6.:p,r$gp$oqrgbr CMS-olr l-r$0g rt66C66o6otJ $o6r,5eapCa") qs bb3r 06r3rqo. 4)AC 6r0rB6or, L s ; 9o6 g b o b l s 0 o r 6 o lt 6rD0 006o6o0,)6 Jt6$Sost6gbtr 6uts6o,:ol 0scDo qgr0Bob gEq,3 b J' 6r0o0cgo6s<69 q.o orr 3 o b ggsgtg b r ot.r ggqrg 6r orr er 0 B ob qgJ do6oors {.o 3o63963oolr qg$AsoCbooro ojaob io{63gq,o Ogbq,obr; 5) or,:6r0gq6er3g b46or0r.r6o[o [r0r6orlq,o ,16 ESogr3b r6s6roti r36drq,3,:tl oOobr, 6r't0 3o0J.l6ogboL qgr0ggd6gbqrgb0r orrSl(r 3o0J':6ogbolr6sb qQrOslUJoeggbq,rq $r6.rqg5oberb b,:6ts3q'gbo 3cr0Jr6o3bolr L,>bl663bqroq9, o0 5 806,, btjs6orggq,crlr gtg6rg[o Lrbr0rfio:qmtr 2012 $q,oL 14 6og0b<6ob 6r68obgbr llrj0obg # d,-r194- 1455-09 tsg0cnbgg3r0og 3o, org s063,r6o qrrdggd6gbqrgbo $r6Eorq-o336X6 ao6rod)o$r6gq' 16 16$r3cn6g6oqro63bgq, qr0g3d63bql90Ii"6' 6) 3p6drn br0r6orq,ob og6oqrogq,o Jo6gbob qpr0ggdbSbqgbb 6'r':B6orcn qgX6o3tgogqo brr6Bgq,ob $.>6rq9g6ob pgq,3b$oboq''30J. 7) 06r3rq, j3ggt6;tso, a.>ot tsrn6olr ob6rgq,ob orgq,-s3o3olr bmq'$'r brl$0r6cnq'er6o EgjBboq,or qgl 6oj0gqg0b lr396o,:q,g6o q33rfi$r036$o, 6er03q'o6 oboq'r3lr qg36o3r$ogqr br6B3qrXbb. brjr6co33qro6o 0oj05qo 3rn0,)r6o3boLr ao6o6cl$16cl J$$6oo63boL ;Jro6Xlt6o3o lgqXdSdo RbOtqob L;g16ors?r'r6oLo LrSrtiorqoL ?38pX6o 5o68Xdocn qrr q.oo3g096g gboo/3,: 6rn63boor : 1.1 tqt8or6olr ggqrgDrorr q.os do6oorcqg otSobggq'gbrot q.os6gob 3o63g66rnb qgr6,:OCboox, r,rC0ob 8gbq,o l. lrr3oortiSbob qtr63o: gcr33qr gobo3gt6 sb og6oCgogq, 3o{61-r .rj3b cns3otro Us33cn63bolt ts33g36bgbgq'o brttpbqrobob 3gq'3b.:. 1.2 rerAo)6obflEE,gbrorr3g6<nJggollUr0r6orq,obSCbmC6sgbC http://www.ecln.coe.int/library/DIGDOC/DG2iHRHAND/DG2-EN-HRHAND-04(2003).pdf Oog3Bgq,o,s l-rg<6drb116gtso 2001 $5q,lr m6rn3ob lrblrnb 0o36 6rdrn6gEgqor $o66o blbgq$oaggboor ,,s(r50or6ol, Sgq,gbrcnr Lrbgq'0dq3 l63q'o #4 - rqgsAos6ob Ugqrgbrotr e.t dodoort(g orugobggq,Sbul Ql6SoU 3ofu566oob qr6r6gbooro ojflob iotfugqn 63bq,o" (s36r'rfn: 0r'16o31 3,:6bli-gdro!3o), 6o0q,3ih6 0oonorgbpqror 6rn8: 60. lt follows that companies may claim in respect of interferences with their property. But shareholders generally have no claim based on damage to a company. The "piercing of the corporate veil" will only exceptionally be permitted, as when a company is unable to make a claim through its organs or liquidators." or.166016o: 60. rql-rr6o?6,:3o;, 6rn0 3r'r0Jr6ogblr .>$co 3gq,3b.: $s6lqg6obrn6 tr,:6Bgqro 0,:oro jobgb6qo ggq,gbgbob qg.:63ob 0ob6oor. 6,:6tvr,:0 qr0ggd63bq,5bl-t, 6rn6r'r66 $gbo, rdt 5uB6orco b.>6Bgq,ob $r6q6g6ob CtsqCbJ 3o8Jr6oobco3olr 0ogg63bgq'o horbolr 6rEo. sO.rlro:rb g6orlqr, ,,3cr6Jortrl6ogq,o 3g.>q,ob Bb3qCOr" 63bsqQr6cDgq'o oj63b.) Obroq'oE brEbSUcD6c0Uq, 030or$6xb0o, 6oqg3br6 3o0Jrborb 16 033dq,,or $,>6,>p6o6<nb bl6Bgq,o 0olro rnt66r6o3bob 16 q,oJ3o!9r6o63bo[ 09633c'rboor". ob. ps6r6or8o l.sofugbgogcxr ql3gbob 6s6boq3olr Lrg6qlr0r'r6obr,r OC6O6otr 0o316 0oqgbgq'o ArqJfggCOoqCOr brCOCtC # 42 ILM 788 (2003)6 (,n86 JoBJ)6oD CMS-ob I$CAC ,>66g66o6ob So6;rq8p96") ' ob. q.or6l6ortso Barcelona Traction-U bsfg ("Barcelona Traction, Light and Power Company, Limited, 6 Judgment, I.C.]. Repons 1970, p. 3.) , 6o03qrbgg 0oornorgbgq,o.: rq.or0or6olr ggq:Sbsors 33t6oJgq'o bbbJoJ6crrq,clb 0Jer$ggCooq,Cb)0o,.Agrotexim and Others v. Crteece". tq6ot6gq,o OoOrOr s0crqCbuE or rq)r0os6ob ggq'3bror 336rnJgq'o ltllOl6oqrob &qr$$ggoqrgboqrr6 ,,Agrotexim and Others v. Greece" ob. 6slror$ggC$oq,Sbob 8gbq,o #66: 66. Concerned to reduce such risks and difficulties the Court considers that the piercing of justified the ,,corporate veil" or the disregarding of a company's legal personality will be it is that established only in ixceptional circumstancis, in particular where it is clearly organs impossible for the company to apply to the Convention institutions through the sef up under its articlei of incorporation or - in the event of liquidation - tkough its liquiiators. The Supreme Courts of certain member States of the Council of Europe have taken the sami line. This principle has also been confirmed with regard to ihe diplomatic protection of companies by the Intemational court of Justice (Barcelona Tiaction, Light and power Company Limited, judgment of 5 February 1970, Reports of judgments, advisory opinions and orders i970, pp. 39 and 41, paras' 56-58 and 66)' $9.16o: http:/Arudoc.echr.coe.int/sites/eng/pages/search.aspx?i=001-57951# {"itemid": ["001- s7951 ',l) 1.3 sQraor6ob gtsqcbcbbC, osSdrob lrrb3q,0dq3r63q,o J6o63o3gbo bo9o63l-rbr lgr 0oqgbgq,o 2011 $qob 16 q6obb 6r36rnb rp$or6ob 3gq'3brcn'r lrblob (United Nations Human Rights Cor.ncil) 0o96, 6rn0gq,o13 Jo6qrrJo6 0r6olgbgb q.o36)o3r$ogE o bl{iBgq'olt $r6q66ob ggq,gbr0oboq,gbrb, 3obroqr,:6 tsil, ,'ctd)Ora 2007"-0r qrs6q3or 93gq's sq6ots6gqo 36o66oJo. 33(lt6o0o3.36o 8i63ocD56Cbolrr (,J cDJETAE6o}AE'(l)bob cr65s6obr6ool: (,Jhe OECD Principles of Corporate Governance 3<'r63o6,t$ogq,o 0l6or3ob J6o66oJ3bo'i endorsed by OECD Ministers in 1999"), 6er09q,og Jo6qqsJo6 0l6o]3blt qqg6o3r$o3qro 7.4. tt6rts3qob $rt6qg6g6olr ggqrgbsErrboq'g0rb. 1.5 Lro63glr6o6ooq.orggbob 6r6boq'3ol-rbr36orr0cr6ol-ro6366drob0o960oq303q'o boj03 6sqs$gg6oq,9b.: Irrj0SSg 42 lLMr 788 (2003)ttt (,,rtsts 3cr0Jr6or CMS-ob r6b36$o6ob $o6,:rp0qgX6"), 6o0q'olr 48- 6r$oq'ob orrbrb@rq: * ,,66obgbrqrob tb6ocn, or6raC!96ogC l-,r36orrtser6obgr br0r6orq'o 16 tsgo6l3l-t 16tbJo6 .>36drq,3rb o0ol-rr, 6o0 3crEJr6og0ob q9,:Ag3d6X\,9b0r o,r3rq 3er03r6ogbolt6.r6 qQrAclUJoSQCbq,,rq-o $l6lq.o6o6o6 l-rl6B3q,9bo 3o0Jr6o3bob brbrtl6gbq'crp, o0 696g3310o6 Jo, oU sE6gr6o cgsfuSd6Xbqpbo $,:66r'rrq969636 0o6er6o$r63qr sE r6r0r3rn6g6oq,o6gb5q, qg$ggd6gbqrgbb" (,,48. The Tribunal therefore finds no bar in curent intamational law to the concept of allowing claims by shareholders independently ftom those of the corporation concemed, not even if those shareholders are minority or noncontrolling shareho ld ers. "). $gr6r'r: http:/litalaw.com/sites/default/fileVcase-documents/ita0l 7 83-pdf 1.6 2011 $q,ob 8 0r66b ot-r6.>3qrob ,,03$1609o,: 03lsb9b" 1999 $qroL Jr6rn6tso fC$rboq,o #15-g 63E',oq,Cbob or6rbArQ, otgq'-r3o3ob lrsroq'jo brlr.:0r6orq,r"rEo ts3j06oq,or q,: Or'rjBgqgbb bJg6orq'36o p93':66s0966o, 6<n0gq,o6 oboq,s3b qgg6o3r$ogq, br6tsgqrgbb (Tel Aviv District Coun's Specialised Department to consider class action and derivative suits')' 1.7 Barcelona Traction-lr ltrjOgbg ("Barcelona Traction, Light and Power Company, Limited, ]udgment, I.C.|. Reports 1970' p' 3.) ,6r'r03qt33 0ocooorgbgqol r!9tao56ob 33q,oblor 336o;Uqro lrsbr0l6orq'olr ErQr$UBCOoq'Cbr8o ,,Agrotexim and Others v. 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'bgb6rqQ rE 6.:3q,oti rqdogb3t6sb ollb.r3l-r 0ob6rq-o Bgab Oogdr $r60oq6g6oq,o U1316o60qp3bg,o $o6sqrrqgbr. Jrgogol,tggSoor, bg6rb gr6ots3oq,o E q3[-L g",6ir$^gn htto:,rwww'rpls.eov.ee/esdVcgi-bin4itrarv.exe?Fd-01000-00--ofI-0samartal-00- I-0-l0-0--0--0prompt- IO- ..-4-..--0-ll--l l-eo-50-.-20-help--00-3-t-00-GGl l-l4utzz-800&a=d&cl=CL4. l&d=lIASH0 I b0605745b1 056209 lcd I 5c.5.3 t2 t ,*o**a.noNAL cENTRE FoR sETTLEMENT oF INVESTMENT DISPUTES (ICSID): cMs cAS TBANSMIS$ON COMPANY V. THE REPUBLIC OF ARGENTINA' lluiy 17, 20031 +Cite as 42 ILM 788 (2003)+: 4g. Tbe Tribunal therefore finds no bar in current international law to the concept of allorving not even if those claims by shareholders independently from those of the corporation concerned, shareholders rre minority or non-controlling shareholders' ii " *flpunrprurr Koprropar:rlaoro yrrpalJreErr{ ODCPr (ogodpenr Ea EcrPeqe Mxrurcrpoa opar OSCP a 1999 rcry): II[. Parercrao ycaorod,qrur arcqrouepol yeJIolI4 EIs see8 $qplgsepqsr Crrcreara xorpuoparsaxoro ]rrpa8,remx romra o6ecreqruara-pareEcrBo rrcrnoqas nsoprrrapEor atcmroselos u xsocryarrrru[ arcErosePos. Bcera an$oreP3]E aoJorgra OECD Principles of Corporate Governance Minoritv shareholders should be prote€ted from abuslve actions bv, or ln the interest of, controllins shareholders actinE elther dlrectlv or indirectlv, and should have effectlve means of redress. Many publicly traded companies have a large controlling shareholder' While the presence of a controlling shareholder can reduce the agency ln addition to disclosure, a key to protecting minority shareholders is a clearly articulated duty of loyalty by board members to the company and to all shareholders. lndeed, abuse of minority shareholders is most pronounced in those countries where the legal and regulatory framework is weak in this regard. A particular issue arises in some jurisdictions where groups of companies are prevalent and where the duty of loyalty of a board member might be ambiguous and even interpreted as to the group. ln these cases, some countries are now moving to control negative effects by specifying that a transaction in favour of another group company must be offset by receiving a corresponding benefit from other com panies of the group. Other common provisions to protect minority shareholders, which have proven effective, include pre-emptive rights in relation to share issues, qualified majorities for certain shareholder decisions and the possibility to use cumulative voting in electing members of the board. Under certain circumstances, some jurisdictions require or permit controlling shareholders to buy-out the remaining shareholders at a share-price that is established lhrough an independent appraisal. This is pardcularly important when controlling shareholders decide to de-list an enterprise. Other means of improvins minoritv shareholder rishts include derivatlve and class actlon law suhs. With the common aim of improving market 13 6EuE credibility, the choice and ultimate design of different provisions to protect minority shareholders necessarily depends on the overall regulatory tramework and the national legal sYstem tti tNoltoouoNAl CENTRE FOR SETTLEMENT OF INVESTImNT DISPUTES (ICSID): cMS GAS TRANSMISSION COMPAI'IY V. THE RXPUBUC OF ARGENTINA' {}uly i7, 20081 +Cite as 42lLM 788 (2003F: 4g. The Tribual therebre finds no bar ir culr€rrt rntemational law to the coflceDt qf gllowios c]ai4$ bv non-controllins sharebolders. l' 52. Int"-"tional law may not, in some fields, provide specific rules in panicula! cases. In the coocrete situation' the comPany against which allegedly unlawful acts were directed is expressly vested with a right' wlereas no such rigbt is speciically prodded for the shareholder in respect oftlose acts. Thus the position ofthe compaoy ress on a positive ruie of both municipal and intemational law. As to the shareholder' while he has cenain rights expressly provided for him by municipal law as referred to il paragraph 42 above, appeal can, in the circumstances of ttre present case, only be maile to the silence ofinternational law' 55. The Court will Dow examine other Slounds on which it is con- ceivable that the submission by the Belgian Government of a claim on behalf of sharebolders in Barcelona Traction may be iustfieil' 56, For the same reasons as before, the Coun must hete refer to employeil for the municipal larv. Forms of incorporatiou and tleir legal personaliry havesometimes not bee! sole purposes they were originally intended to serve; sometimes the corPorate entity has beeu unable to protect the righrs of those who entrusted tleir finalcial resources to it; ihus inevitably there have arisen dargen ofabuse, as b the case of maly other institutions of law. Here, then, as elsewhere, the law, confronted with economic realities, has had to provide protective measures and remedies in the i:rterests of those withia the corporate entity as weU as of those outside who have dealings with it: the law has recognized that the independent existence ofthe legal entity canrtot be treated as an absolute. It is in this context that the process of 'Iifthg the corporate veil" or "disregarding the legal entity" has been found iustified and equitable in cenain cinumstances or for cenain purposes. The weahh of practice aLeady accumulated on the subiect in municipal law iadicates that the veil is lifted, for insrance, to plevent the rnisuse of the privileges of legal personaliry, as iu certain cases of fraud or roaUeasance, to protect third persons such as a creditor or purchaser, or to prevent the evasion oflegal requirements or of obligations. 57. Hence ttre lifting of tle veil is more Aequerdy employed from without. in the hterest of those dedhg with the corporate endty. However. it has also been operated &om within. in the iaterest of-anloog other:-the shsrreholderr. but only in exceptioaal circumstalces. 58, ID accordance with the principle expouaded above, the process of lifting the ve . beiag an exceptional one admitted by municipal law in respect ofan insdtution ofits owa making, is equally admissible to ptay t4 a similar role in iaternational law. It fullowr that on the internatioual plgne also there Eay itr PdnciPle be sPecial circumstaDces which justi& tle liftiqg of the veil in tls interet of sbaneholders. $916o: http://www.ici-cij'org/docket/fi les/50i5387.pdf l5

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