Do EU contract and company law have global reach?
Title: Do EU contract and company law have global reach?
Author: GRUNDMANN, Stefan
Citation: Marise CREMONA and Hans-Wolfgang MICKLITZ (eds), Private law in the external relations of the EU, Oxford : Oxford University Press, 2016, pp. 147-168
This chapter discusses global effects of loan contracts, especially in the light of the 2008 financial crisis. The global company, or multinational enterprise, worked within a global dimension well before 2008, yet a truly international regulatory regime for this phenomenon was not seriously considered until about 2011 (with just one exception). The contract and the company, or market transactions and the firm, would both seem to have gained or considerably increased their global dimension over the last five years or so, thus raising the question of a global perspective for European private law. Upon considering the global importance of EU private law, however, we can witness the degree of global openness to be found in contract law (and the law of transactions) and, conversely, the restriction to internal market cases which can be found in company (organization) law.
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