Almost Capital-less Companies in Europe: Trends, Variations, Competition

Bartolacelli Alessio
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Bartolacelli Alessio: By Alessio Bartolacelli Ph.D., Senior Lecturer of Business Law at the University of Macerata (Italy). E-Mail: alessio.bartolacelli@unimc.it The present work has been developed when the author was TRENTINO & Marie Curie Fellow, Research Fellow at the University of Trento (I) and guest researcher at the Europäisches EWIV-Informationszentrum bei LIBERTAS – Europäisches Institut GmbH (Rangendingen – D), and updated when he was a Research Assistant at the Alma Mater Studiorum – University of Bologna. This article – part of a wider research project about private companies with reduced legal capital as members of an EEIG – is an output of the project “GEIE/GECT-TN”, co-funded by the Autonomous Province of Trento (I) and the EU Marie Curie Action – FP7. My personal gratitude goes to the many colleagues and friends who helped my research, and in particular to Elisabetta Pederzini for her support and Mette Neville and Marco Ventoruzzo for inciting me to develop broader views’ final remarks. Sincere gratefulness also goes to the ECFR blind referees for their insightful remarks.Italy

European Company and Financial Law Review, 2017, vol. 14, issue 1, 187-233

Abstract: In this article, I will analyze the current trend in many European Countries of lowering the minimum legal capital required to create a private company, as well as the most relevant experiences in the field of the simplified constitution process of private companies. In the final remarks, some key points of these issues are going to be compared, also adding references to the recently introduced Italian almost capital-less companies, by concluding, among other things, that a legal capital’s decrease does not necessarily imply a race to the bottom in opposition to the interests of the company’s creditors.

Date: 2017
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DOI: 10.1515/ecfr-2017-0007

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