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Appears in Collections:Law and Philosophy eTheses
Title: The Liability of Groups of Companies in Islamic Law (A Comparative Study with Common Law)
Authors: El-Saadouni, Raed
Supervisor(s): Davidson, Fraser
Keywords: Group of Companies, Islamic law, Corporate law, Limited Liabilit, Separate Personality, Parent companies, Subsidaries, Piercing the corporate veil, lifting the corporate veil, Islamic law of business organisation, Islamic Commercial law, Islamic partnership, Sources and Orign of Islamic law
Issue Date: 2013
Publisher: University of Stirling
Abstract: Groups of companies offer considerable economic and practical advantages over other forms of business organizations. However, the phenomenon creates a long list of problems in terms of antitrust law, tax law, labour law, corporate law, and in the case of international companies, conflict of laws. National laws do not provide a complete solution to these problems because groups of companies are still governed by traditional corporate law, which is designed to govern single independent companies. On the other hand, harmonization of the law of corporate groups across Common legal systems is neither feasible not advisable. The most important problem which has not yet been completely solved by Common law systems is the liability of groups of companies for the debts of their subsidiaries. This has been described as "one of the great unsolved problems of modern company law". The present study aims to analyse the solutions provided by Common law systems to this problem and evaluate if they provide a solid settlement or whether further safeguards are needed for those dealing with corporate groups, namely minority shareholders and outsiders including creditors. By using a comparative approach with the Islamic law system, the study evaluates if the Common law solutions are also applicable in such a religious system or whether, due to its unique character Islamic law needs to create its own solution. This comparative approach assesses the possibilities of harmonization between Common law and Islamic law systems and promotes the Islamisation of modern laws in Islamic countries.
Type: Thesis or Dissertation
Affiliation: School of Arts and Humanities
Law and Philosophy

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