Influence of Anglo-Saxon law on Serbian company law

Abstract

In this paper the author analyzes Anglo-Saxon legal transplants that have become part of Serbian company law. From numerous Anglo-Saxon solutions, the author selected the following illustrative examples of legal transplantation: a) director's duties, b) derivative action, c) one-tier system, and d) piercing the corporate veil. Although each of these legal institutes is nowadays generally accepted as part of the global company law, in Serbian law there are still difficulties with their adaptation and efficient application in the existing regulatory and economic environment. For this reason, in Serbian law Anglo-Saxon legal institutes are being either rarely or incorrectly applied. Bearing in mind that the influence of Anglo-Saxon law in the field of company law is indisputably useful and welcomed, the author concludes that complete success and correct application of the transplanted solutions primarily depends on further development of Serbian legal thought through comparative legal analyses that would bring our legal theory and practice closer to the leading legal systems.

Keywords

• anglo-saxon law
• director's duties
• derivative action
• one-tier system
• piercing the corporate veil