Cross-Border Transfers of Undertakings

Book excerpt: Globalization and market integration have shaped the economic climate in such a way as to give rise to a considerable increase in cross-border mergers, acquisitions and corporate restructurings. However, the primary European Union (EU) legislation in this area – the Acquired Rights Directive – brings about only partial and minimum harmonization, giving rise to differences in the employee protective regime across the EU Member States. This book, the rst full analysis of the EU-level private international law implications of the subject, masterfully addresses the plethora of questions that arise and presents well-considered and soundly based recommendations towards the introduction of a new and uniform con ict of laws path for transfers of undertakings throughout the EU. With a methodology that combines comparative, ‘black letter’, legal historical and empirical approaches, the author addresses such issues and topics as the following: – determination of applicable law both upon and after a transfer; – jurisdictional issues; – the main provisions of the Acquired Rights Directive and their content; – the main differences existing among the relevant laws of the Member States; – special characteristics of the maritime sector and seagoing workers; and – cross-border implications of Brexit. This book critically evaluates the existing rules on international jurisdiction and the con ict of laws relating to cross-border transfers of undertakings, clearly exposing the regime’s merits and demerits. Counsel representing any actor involved in a cross-border merger, acquisition, or business restructuring – transferor, transferee, or affected employees – will be well served with this exemplary account of their legal position both before and after the transfer. In addition, policymakers, legislators and interested academics will bene t greatly from the author’s clearly presented guidelines on the development of an EU-wide con ict of laws regime for transfers of undertakings.