About The Application By The Court The Fundamentals Of Honesty, Reasonableness And Fairness In The Corporate Disputes

Abstract

The author of the article analyzes the need of harmonization of Ukrainian legislation with the legislation of the European Union in general, and with the legislation regarding company law, in particular. It is claimed that growing economic problems in Ukraine worsened the situation in the field of corporate relations and led to a substantial increase in the number of corporate disputes. The author has drawn attention to the gaps in legislative regulation of corporate relations, particularly in the legal uncertainty since the emergence of the corporate rights of the parties of the Limited Liability Company (LLC), which, in its turn, is linked to the problem of exclusion from the composition of the partnership. In the article it was analyzed the relevant current legislation. Author concluded that the corporate law of the founder of LLC arose from the actual performance of his duty to contribute to the share capital and voting rights of the founder of the company should be determined according to the appropriate part of the paid share (actually introduced). The author proposed a number of amendments to existing legislation: specific steps for the interpretation of the Law of Ukraine «On Business Associations»; the need to be used by the courts in deciding the corporate disputes of the general principles of civil law - justice, good faith and reasonableness as a way to overcome gaps in the law.