Legal issues arising in determination of major transaction with qualifying criterion

Zagrebaeva Ekaterina Vladimirovna

The present article analyzes litigation practice on qualifying criterion of major transaction performed by business company. It is determined for which corporations, depending on the degree of concentration of their authorized capital, such an approach of arbitration courts to identify the qualitative criterion of a large transaction may be appropriate, and for which - not. The analysis of the norms of the laws of some foreign countries regarding the legal regulation of an "extraordinary" transaction is also carried out. Based on a comprehensive analysis, it is proposed to distinguish transactions that correspond to the qualitative criterion of a large transaction in terms of their consequences for the activities of a legal entity by assigning them to the competence of different management bodies of a legal entity.

Keywords:corporation; qualifying criterion of major transaction; major transaction; normal course of business; special order of transactions; business company; legal entity.