This article argues that a strong or rather mechanical equal treatment rule in share repurchases, distributions in kind, or capital reductions is not efficient. An economic analysis of the law shows that disparate treatment of shareholders may increase shareholders' overall welfare. Disparate...

With IGI v Cicenia C 394/18, a decision of Jan. 30th, 2020, the Court of Justice of the European Union has solved questions concerning an action to set aside a division (so-called actio pauliana). The Court holds that neither the objection possibility granted before the division is implemented,...

This paper argues that a strong or rather mechanical equal treatment rule in share repurchases, distributions in kind or capital reductions is not efficient. An economic analysis of the law shows that disparate treatments of shareholders may increase shareholders' welfare. Disparate treatment,...