Liability of shareholders and other persons for debts of the company (multinational included)

Liability of shareholders and other persons for debts of the company (multinational included) This master thesis is devoted to the issue of the legal liability of shareholders and others for debts of the company in consequence of their influence on the company or in case of its insolvency. The former is not a wholly new institute in Czech law, however it raises many new questions especially because of its broader concept. The latter is an entirely new issue in the Czech legal system which was influenced by the English concept called wrongful trading. The thesis is composed of five chapters. Chapter one briefly presents the concept of limited liability of the shareholders, its development, significance and criticism, including certain means that are used by the legal systems and courts to break the limited liability under some specific circumstances. Chapter two points out certain legal devices that had provided protection for creditors and that were abandoned, which may leads to the higher importance of the legal liability of the shareholders and other persons connected with the company. Chapter three concerns the concept of influential and controlling person, and also explains the concept of shadow director and de facto director under English law. Subsequently it presents certain categories of..