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New squeeze-out devices as a part of corporate law reform in Korea : What type of device is required for a developing economy?

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  • New squeeze-out devices as a part of corporate law reform in Korea
  • Rho, Hyeok-Joon
  • Boston University


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Title New squeeze-out devices as a part of corporate law reform in Korea
Similar Titles
Sub Title

What type of device is required for a developing economy?

Material Type Articles
Author(English)

Rho, Hyeok-Joon

Publisher

[Boston, U.S.]:Boston University

Date 2011-01
Journal Title; Vol./Issue Boston University International Law Journal:vol. 29(no. 41)
Pages 38
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Government and Law < Laws and Legislation
Holding SSRN

Abstract

A squeeze-out is a mechanism used by a majority shareholder in a corporation to force out those in the minority. This article begins with a discussion of whether a squeeze-out should be allowed under the fundamental corporate law principle of majority rule. In spite of concerns for minority shareholders, it is reasonable to seek legislation to minimize the negative aspects of squeeze-outs rather than to simply deny the mechanism altogether. To reduce the risk of the majority’s exploiting minority shareholders through squeeze-outs, any squeeze-out legislation should be carefully designed, thereby guaranteeing fair compensation for minority shareholders. For comparative research, this article reviews squeeze-out devices available in the United States, the United Kingdom, and Germany and classifies the devices into three categories: (1) tender offer squeeze-outs, as in compulsory acquisitions in the U.K.; (The rest omitted)