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@article{1167550,
author = {Kožiak, Jaromír},
article_number = {2},
keywords = {Business Judgment Rule; Corporations Act; Company Officers; Liability of Company Officers},
language = {eng},
issn = {2247-7195},
journal = {Juridical Tribune},
title = {Business judgement rule in Czech Corporations Act},
url = {http://www.tribunajuridica.eu/arhiva/An3v2/9%20Koziak.pdf},
volume = {3},
year = {2013}
}
TY - JOUR
ID - 1167550
AU - Kožiak, Jaromír
PY - 2013
TI - Business judgement rule in Czech Corporations Act
JF - Juridical Tribune
VL - 3
IS - 2
SP - 126-135
EP - 126-135
SN - 22477195
KW - Business Judgment Rule
KW - Corporations Act
KW - Company Officers
KW - Liability of Company Officers
UR - http://www.tribunajuridica.eu/arhiva/An3v2/9%20Koziak.pdf
L2 - http://www.tribunajuridica.eu/arhiva/An3v2/9%20Koziak.pdf
N2 - Czech private law is currently undergoing a thorough transformation. This inclundes adoption of a brand new Corporations Act, which is to supersede the current Commercial Code. The new legislation introduces several new rules governing liability of company executive officers. One of these is the business judgment rule. It should provide company executive officers with a certain level of protection against litigantion – if specific terms are met, it is presumed, that they carried out their responsibilities with proper care. I intend to demonstrate in this article that the Czech business judgment rule is flawed, despite the fact that it draws from foreign examples and that this regulation, although seemingly groundbreaking, in fact changes nothing in examination of the decisions of the company executive officers in Czech Republic. The main goal of this article is therefore to analyze and criticize the business judgment rule in the new Czech legislation and to compare it to notable foreign legal systems.
ER -
KOŽIAK, Jaromír. Business judgement rule in Czech Corporations Act. \textit{Juridical Tribune}. 2013, roč.~3, č.~2, s.~126-135. ISSN~2247-7195.
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