Due to a preliminary failure of the European Private Company (Societas Privata Europaea – SPE), the European Commission presented its proposal for a “Societas Unius Personae” (SUP) on 9 April 2014. The Commission aims at introducing and regulating harmonised single-member private limited liability companies (SUP). This shall allow medium and large-sized enterprises especially to organise their subsidiaries (abroad) with the help of this legal form.
The proposal of the European Commission has been discussed controversially in the Council. On 28 May 2015 Member States agreed on a general approach that significantly amended the provisions put forward by the Commission.
This contribution focuses on the substance of the SUP’s rules and in this regard compares the Commission’s proposal and the Council’s general approach.
European Business Law Review