Южнокавказский Юридический Журналlawlibrary.info/ge/books/giz2014-eng-ru-SCLJ-III.pdf · Общества по Международному Сотрудничеству

South Caucasus Law Journal

03/2012

03/2012 Entrepreneurs and Law

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Head of the Editorial BoardNorbert Bernsdorff

Assistant of the Head of the Editorial BoardLia Shatberashvili

Members of the Editorial boardVaffadin Ibaev, Gunduz Karimov, Anar Bagirov Karen Sardaryan, Rafik Handanyan, Hrachya MarangulyanNatia Tskepladze, Irakli Burduli Paata Turava, Elena Fileeva

Translators of Russian textTina Chokeli, Lascha Kalandadze, Vahe Mkrtchyan, Hafiz Qayib

Translators of English textNana Mchedlidze, Kate Vachadze, Vahe Mkrtchyan Hafiz Qayib, Nazim Huseynov

Proof-readers of Russian textLia Shatberashvili, Elena Fileeva

Proof-readers of English textBryn Philip Rickards, Vikram Kona

(GIZ). , , , (GIZ)

(GIZ), 2012 , 2012 : Jacques Descloitres, MODIS Land Rapid Response Team

: www.giz.de/law-caucasus

The Journal is published with support of Deutsche Gesellschaft fr Internationale Zusammenarbeit (GIZ).

Findings, conclusions and comments made in the journal do not reflect the opinion of Deutsche Gesellschaft fr

Internationale Zusammenarbeit (GIZ)

Deutsche Gesellschaft fr Internationale Zusammenarbeit (GIZ), 2012

Authors, 2012 Picture on the cover: Jacques Descloitres,

MODIS Land Rapid Response Team

The online version of the journal is available on the website: www.giz.de/law-caucasus

. : [email protected] Email: [email protected]

ISSN 2298-0490

Federal Ministryfor Economic Cooperationand Development

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Content

Editorial 5

Articles Irakli Burduli (Georgia)

Contemporary Georgian Corporate Law and the Institution of Squeeze-out 156

Ani Chilingaryan (Armenia) The Management of Limited Liability Companies in Armenia 166

Server Suleymanli (Azerbaijan) Definition and Elements of Commercial Activity (Entrepreneurship) 170

Hrachik Yarmaloyan (Armenia) Legal Regulation of Limited Liability Companies in Armenia 177

Nino Meskhishvili (Georgia) The Rationale and Importance of Good Faith in Private Law 182

Araik Tunyan (Armenia) Business Entities in the Republic of Armenia 186

Gor Movsisyan (Armenia) Bankruptcy Issues of Business Law Subjects in the Republic of Armenia 189

George Jugeli (Georgia) Shareholders Liability for a Corporations Obligations Piercing the Corporate Veil 192

Lado Chanturia (Germany / Georgia) Model Law on Joint Stock Companies for CIS Countries and Corporate Governance 198

Norbert Bernsdorff (Germany) Legal Status of an Enterprise from the Point of View of International Law Freedom of Economic Activities, Freedom of Concluding Contracts and Freedom of Competitiveness 206

Rashid Aliyev (Azerbaijan) Optimal Forms of Doing Business Together: A Comparative View of Partnerships and Limited Liability Companies in Azerbaijan 212

Hrachya Marangulyan (Armenia) Establishing Contractual Relationships between the Subjects of Commercial and Civil Law: A Comparative Legal Analysis of the Regulatory Institutions of Offer and Acceptance 217

Emin Karimov (Azerbaijan) Shareholders Agreements in Azerbaijani Law 226

Mary Japaridze (Georgia) Mandatory Bid Rule Brief Legal Overview 231

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276

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Case Law Review Norbert Bernsdorff (Germany)

Report on the Court Practice of the European Court of Human Rights regarding Individual Complaints against Armenia, Azerbaijan and Georgia in 2011 237

Roin Migriauli (Georgia) Withdrawal of a Partner from a Limited Liability Company 243

Mariam Tsiskadze (Georgia) Analysis of Court Practice on Some Entrepreneurial Disputes 246

Vakhtang Menabde (Georgia) The Substance of the Right to Own Shares In Accordance with the Case-Law of the Constitutional Court of Georgia 252

Comments on court decisions Mindia Vashakmadze (Germany / Georgia)

European Court of Human Rights: Makharadze and Sikharulidze v. Georgia 258

Nana Mchedlidze (Georgia) European Court of Human Rights: Bayatyan v. Armenia 261

Elena Fileeva (Georgia) European Court of Human Rights: Tsintsabadze v. Georgia 266

Reports Gunduz Karimov

Review of the Legislation of the Republic of Azerbaijan for 2011 271

Elena Fileeva Report on Legislative Changes in Georgia 273

News from the Region 276

Book recommendation Wolfgang Babeck, Steven Fish, Zeno Reichenbecher:

Rewriting a Constitution: Georgias shift towards Europe 280

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EditorialThe third issue of the South Caucasus Law Journal

that you hold in your hands is the continuation of the project that is already being implemented in the last two years. As you will read the introductions to the first and second issues, you can study the aims and goals of the Journal and the contents of its first and second issues.

The South Caucasus Law Journal has been quite positively assessed by the society and professionals as expected. Its success is measured not only by the number of copies, but also by the facts how often it is mentioned in mass media and its reach, especially through the medium of internet. If you are to make a Google search for the name of the Journal, you are certain to get numerous links that point to it. This is very inspiring.

The tasks and the form of the Journal have not changed after the first issue. However, its volume has increased significantly. We would like to believe that the professional standard of the articles has also sig-nificantly improved. All in all, we had an unprecedented and immense flow of articles during our preparation pro-cess for the third issue. This is explained by the fact that the Journal has gained popularity since its inception. A large part of the appeal could be due to the topical and relevant articles on the subject of Entrepreneurial Activi-ties and Law.

The main theme is in line with modern requirements because it reflects many dynamically developing issues of economic development in Armenia, Azerbaijan and Georgia. For this phase of economic transformations, the words of German lawyer and scientist Heinrich Cronstein have particular importance:

In the conditions of contemporary economy, eco-nomic power as a significant force has to be accepted by us. The boundaries within which this power is unfold-ed should be quite precise to ensure the inviolability of legal and economic order. However, they should not be too restrictive and facilitate entrepreneurs to fulfil their functions in the framework of this order.

This means that the legal order should remain well balanced while regulating entrepreneurial rights. Its tasks should be limited to balancing the interests of all parties and ensuring social justice. Authors of the ar-ticles published in the third issue of the Journal are in-

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deed telling us about the balance of those interests from different standpoints: Armenian, Azerbaijani and Geor-gian positions on entrepreneurial rights. These interests are analysed from the point of view of constitutional and international laws as well as by comparing various legal systems.

By the way, efforts to publish the fourth issue of the Journal in 2013 have already commenced. In April, this year, the Editorial Board of the Journal decided about the theme of the fourth issue: Right to Fair Trial. Let yourself be inspired by this topic and become one of the authors of our Journal!

Dr. Norbert BernsdorffJudge of the Federal Court on Social Issues

Kassel, Germany

Zeno ReichenbecherHead of the GIZ Program

Advice on Legal and Judicial Reforms in the South Caucasus

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3/2012 29

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3/2012 31

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3/2012 33

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3/2012 35

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3/201236

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tung (GmbH), 19825 . Limited Liability Act 18556 . -

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3/201238

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14 . Brgerliches Gesetzbuch, Wolters Kluwer, , 200815 . Gesetz betreffend die Gesellschaften mit beschrnkter

Haftung (GmbH), 1982, 2009.

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19 . 4 von Gesetz betreffend die Gesellschaften mit beschrnk-ter Haftung (GmbH), 1982, 2009.

3/2012 39

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3/201240

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3/2012 41

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3/2012 43

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2 Esser, Grundsatz und Norm in der richterlichen Fortbildung des Privatrechts 2 (1964) . 346 Bar/Drobnig, Study on Property Law and Non-contractual Liability Law as they relate to Contract Law, 2002; p. 319

3 Esser, Grundsatz und Norm in der richterlichen Fortbildung des Privatrechts 2 (1964) . 346 Bar/Drobnig, Study on Property Law and Non-contractual Liability Law as they relate to Contract Law, 2002;, p. 320

4 . , , GTZ, , 2007, . 208

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fides, - , , , - , - . fides - , . , fides , bona fides,8

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8 . : , , - / . . ., 1989. C. 131-132

3/2012 45

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10 . . . ., 2003. C. 341

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3/201246

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22 bona fide23 Good faith24 M. W. Hesselink, The Concept of Good Faith, The paper was pub-

lised in: A.S. Hartkamp, E.H. Hondius, C.A. Joustra, C.E. du Per-ron, M. Veldman (eds), Towards a European Civil Code, 3rd ed (The Hague, London, Boston: Kluwer Law International 2004), at: http://ssrn.com/abstract=1098856

25 . . . // , 2006, 6. C. 5657; . . // : , 1946, 6. C. 431.

3/2012 47

, .

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26 Question of application27 P. Mandik. Subjective and Objective Judgments (2000), p. 3 http://

www.petemandik.com/philosophy/papers/dissertation.pdf (August, 2010)

28 P. Mandik. Subjective and Objective Judgments (2000), p. 3 http://www.petemandik.com/philosophy/papers/dissertation.pdf (Au-gust, 2010)

29 22- , . Andreas Rahmatian, A Comparison of German Moveable Property Law and English Per-sonal Property Law, 2010, p.11 http://papers.ssrn.com/sol3/pa-pers.cfm?abstract_id=1629268 (Journal of Comparative Law, Vol. 3, No. 1, pp. 197-248, 2010

, - .30

(legal effects), -. , - , - . , , . , - , , - .31

, - - .32 , - .

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, - , , - , - . , , .33 -

30 . . 31 Lle Sirmen, Acquisition of Movables in Good Faith, p. 307, http://

dergiler.ankara.edu.tr/dergiler/38/302/2842.pdf32 C. 30733 . Andreas Rahmatian, A Comparison of German

Moveable Property Law and English Personal Property Law,

3/201248

.34 . , - , - , - , . , - , - . , . , - -, .

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2010, p.37 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1629268 (Journal of Comparative Law, Vol. 3, No. 1, pp. 197-248, 2010)

34 . Schwab, K H and Prtting, H (2003) H Sachenrecht (31st ed) C H Beck 35 n 441, . Andreas Rahmatian, A Com-parison of German Moveable Property Law and English Personal Property Law, 2010, p.37 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1629268 (Journal of Comparative Law, Vol. 3, No. 1, pp. 197-248, 2010)

35 R. Zimmermann, S. Whittaker, Good Faitn in European Contract Law, Cambridge University Press, 2000, 13

36 Jack Beatson, Daniel Friedmann (eds.) Good faith and fault in contract law. 1995. p. 171 . : R. Zimmermann, S. Whittak-er, Good Faitn in European Contract Law, Cambridge University Press, 2000, p. 13

.37 - . - , - , - .38 - 242, , , - .

, , , - .39

. - ,40 .41 , - - , .42

VI.

- , .43 bona fide - , , - . , , , - - .44

37 Martijn W. Hesselink, The Concept of Good Faith, This paper was publised in: A.S. Hartkamp, E.H. Hondius, C.A. Joustra, C.E. du Perron, M. Veldman (eds), Towards a European Civil Code, 3rd ed (The Hague, London, Boston: Kluwer Law International 2004), http://ssrn.com/abstract=1098856

38 39 R. Zimmermann, S. Whittaker, Good Faitn in European Contract

Law, Cambridge University Press, 2000, p.1540 -

( 3, . 8 )41 ,

, . 42 . , , .

3-, , 2001, . 27043 Staudinger/Looschelders/Olzen-Looschelders, Kommentar zum

BGB, Einleitung zum Schuldrecht, Treu und Glauben, Berlin (Sellier-de Gruyter), 2005, 242, Rn.1, Rn.104 . , , . , 10/2007 1 .18

44 , , . - , 10/2007 1, .18

3/2012 49

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3/2012 51

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3/2012 53

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3 12.04.2011., 12.04.2011., 2011.04.20/22(825) . 427:

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5 17.06.1998., 01.01.1999., 1998.09.09/20(53).

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6 16.05.1995., 16.05.1995., 1995/10.

7 , , 2010. . 03.01.2012. http://www.court.am/?l=lo&id=50.

8 The new French insolvency law. Freshfields Bruckhaus Deringer, February 2006, 1. 03.01.2012 http://www.freshfields.com.

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1. 60 (inability of making payments-Illiquidity)

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10 03.01.2012. http://www.parliament.am/drafts.php?sel=showdraft&DraftID=4341&Reading=0.

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3/201256

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12 05.05.1998., 01.01.1999 ., 1998.08.10/17(50).

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I.

() - 2. , , . , - 3 - - -4. - 5. , - (- ) . , , (Piercing the Corporate Veil, Durchgriffshaftung), - 6.

, - - . . 3.6 :

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1 , (Caucasus University School of Law).

2 . , . 3.3 . 2.3 Wormser, Piercing the Veil of Corporate Entity, 12 Colum. L.

Rev. 1912, 496, 497; Morrissey, Piercing All the Veils: Applying an Established Doctrine to a New Business Order, The Journal of Corporation Law, 2007, 529, 541, URL: http://ssrn.com/ab-stract=1109180; U.S. v. Bestfoods, 524 U.S. 51, 118 S.Ct. 1876, 141 L.Ed.2d 43 (1998); Dorton v. Dorton, 77 N.C.App. 667, 336 S.E.2d 415, 418 (N.C. App., 1985).

4 Dole Food Co. v. Patrickson, 538 U.S. 468, 475 (2003); 18 Am Jur 2d Corporations 47 (LexisNexis 2008).

5 . , -, 2011, . 11.

6 De Witt Truck Brokers, Inc. v. W. Ray Flemming Fruit Co., 540 F. 2d. 681 (4th Cir. 1976); Morrissey, 529, 541.

, -.

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7 Morris v. New York State Dept. of Taxation and Finance, 603 N.Y.S.2d 807, 810, 82 N.Y.2d 135 (N.Y., 1993); 18 Am Jur 2d Cor-porations 47 (LexisNexis 2008).

8 . -, . 3 .

9 David Millon, The Still-Elusive Quest to Make Sense of Veil-Piercing, 89 Texas Law Review, URL: http://ssrn.com/ab-stract=1711335

3/201258

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, , . , - , . , . , 10. , .. - (Normzwecklehre)11 - . , , - . - (subjektive Missbrauchstheorie) - - . - ,

10 . , BGHZ 22, 226, 230; BGHZ 54, 222, 224; BGHZ 68, 312, 315; BGHZ 78, 318, 333; BGHZ 29, 385, 392.

11 - 156 (1957), 522; . , , 1977, . 661, 678, 679; , , 1987, . 601-605, , 1977, 1793; , , 1975, . 102; , , 1973, . 271; , , (2005), . . 21 , 43.

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1.

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12 , , 1955 (1980), . 203, . , 1961, 969, 972, , , 1968, 72, 74; 1975, 1322, 1324, 1325.

13 . , , 2011, . 241.

3/2012 59

(. ).

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14 Robert B. Thompson, Piercing the Corpo-rate Veil: An Empirical Study, 76 Cornell.L. Rev. 1036, 1055 (1991).

15 . , , 2011., . 11.

16 , , Gevurtz, Piercing Piercing: An Attempt to Lift the Veil of Confiusion Surrounding the Doctrine of Piercing the Corporate Veil, Or. L. Rev., 1997, 853, 858-861

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17 U-CAN-II, Inc. v. Setzer, Case No. 1D03-2150 (Fla. App. 1st Dist. 11/26/2003), 870 So. 2d 99 (Fla.App. 1st Dist., 2003); Dania Jai-Alai Palace, Inc. v. Sykes, 450 So.2d 1114 (Fla., 1984); 18 Am Jur 2d Corpo-rations 47 (LexisNexis 2008).

3/201260

-. , , . - , - , - , , - .. , , , - - . - - -18. , , - .

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19 Daniel J. Morrissey, Piercing All the Veils: Applying an Established Doctrine to a New Business Order, The Journal of Corporation Law, 2007, 530, 546.URL: http://ssrn.com/abstract=1109180; Frank H. Easterbrook & Daniel R. Fischel, Limited Liability and Corporation, 52 U. CHI. L. REV. 89, 113 (1985).

, , , - . - (.. ) - . - , - 20. - . , , , . , - - (.. -) . , - , , - (, , - ).

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22 Gevurtz, Piercing Piercing: An Attempt to Lift the Veil of Confiu-sion Surrounding the Doctrine of Piercing the Corporate Veil, Or. L. Rev., 1997, 853, 875, 881.

3/2012 61

23. , - - - . . - , - . - - ( , ) . , - , -. , - , - (.. - -). . , - (.. ), - . , - post factum - ( .. )24. - - , , .

23 , . 9.6, 54.6 . , - , , / (. . 3.8, 53.4 -). , . , - , 2006, . . 202.

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14 , : Hommelhof/Kleindiek in Lutter/Hommel-hoff, GmbH-Gesetz. Kommentar. 16. Aufl. 2004. 6, Rn. 4.

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