Speaker: Professor Chris Thomale (University of Vienna, University Roma Tre)
Abstract: According to a widely received concept coined by Hansmann/Kraakman, “asset partitioning” denotes a bundle of doctrines surrounding the relationship of business owners as well as their business and private creditors, so-called entity shielding and owner shielding. Often, this configuration is associated with a legal entity, e.g., providing the “corporate veil” which allegedly protects owners’ assets from business creditors. Contrary to this intuition, it will be shown that legal personality, while offering a metaphorical framework for asset partitioning, is no institutionally indispensable prerequisite for it. To support this claim, we will look at historical and contemporary comparative evidence from continental-European as well as Middle- and South-American legal orders. This allows us to compare asset partitioning with and without legal personality and evaluate the policy implications of each.
A sandwich lunch is available for all participants from 12:30pm just outside of B16.
3CL runs the 3CL Travers Smith Lunchtime Seminar Series, featuring leading academics from the Faculty, and high-profile practitioners.
Enquiries to: 3cl@law.cam.ac.uk
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