Bibliographie sélective OHADA

Cette étude a pour objectif de connaitre les différentes étapes de l’introduction à la Bourse régionale des valeurs mobilières (BRVM) en tant que place financière régionale de l’UEMOA, régulé par le conseil régional de l’Epargne Publique et des marchés financiers. Pour atteindre cet objectif, nous avons émaillés l’organisation du marché financier dans une approche visant à définir les différents intervenants et leur rôle. Ensuite, nous avons analysés l’activité boursière du marché. Les indicateurs de performance principalement relevés sont le rendement, la liquidité, le volume de transactions et le risque du marché. Le potentiel de la BRVM est encore à exploiter au regard de l’activité économique de la sous-région. Toutefois, le dynamisme du marché boursier est intéressant surtout du fait qu’il offre un rendement intéressant auprès des intéressés. Nous avons soumis les différents indicateurs du marché à une analyse comparative de son évolution à l’échelle des Bourses africaines, afin d’évaluer son degré d’attractivité. Nous recommandons des ajustements sur les différents points relevés visant l’essor de la place financière de la BRVM tout en démontrons les résultats de notre recherche.

Esta dissertação apresenta um panorama geral e atualizado do funcionamento do sistema de registro de garantias sobre bens móveis no Brasil. Ao longo da pesquisa, pudemos comprovar que o fato de as pequenas e médias empresas pouco usarem bens móveis como garantia para obter crédito se deve, entre outros fatores, à complexidade de seu registro. Além disso, verificamos a dificuldade de estudar o sistema registral em virtude da falta de uma lista de garantias mobiliárias centralizada em um corpo normativo e de um registro exclusivo de operações com garantias mobiliárias (que são registradas tanto pelo Registro de Títulos e Documentos como pelo de Imóveis e pelos especiais) e da existência de normas discrepantes quanto aos elementos fundamentais que compõem o regime de direito de garantias mobiliárias, dependendo do tipo da garantia utilizada. Entre os principais desafios encontrados ao analisar o sistema registral, destacamos os registros feitos em papel, a falta de centralização e interoperabilidade entre os registros, a burocracia desnecessária e o alto custo do registro. Em busca de respostas que concorram para aprimorar o ambiente legal no Brasil, apresentamos os sistemas de registro propostos pela Lei Modelo Interamericana sobre Garantias Mobiliárias da OEA, aprovada em 2002, pela Lei Modelo sobre Garantias Mobiliárias da UNCITRAL, aprovada em 2016, pela Convenção sobre Garantias Internacionais Incidentes sobre Equipamentos Móveis e pelo Protocolo à Convenção sobre Garantias Internacionais sobre Incidentes sobre Equipamentos Móveis Relativo a Questões Específicas ao Equipamento Aeronáutico, firmados na Cidade do Cabo em 2001 e ratificados pelo Brasil em 2013, e pelo Protocolo MAC (mineração, agricultura e construção). Concluímos que é preciso modernizar o sistema registral para torná-lo centralizado, eletrônico e de baixo custo. Nesse contexto, sugerimos a implementação de um registro central criado por Lei Federal e idealmente administrado por um ente privado sob concessão pública. Consideramos que, no que tange ao registro eletrônico, não é preciso nenhuma alteração legislativa, mas apenas melhorias práticas para superar obstáculos operacionais. Por fim, a implementação de um registro eletrônico e centralizado simplificará os processos e reduzirá os custos.

The aim of this research is to determine how the application of Big Data and Data Analytics techniques influences the external audit. The impact on the working methods and the audit quality is discussed. Furthermore, the technological maturity of the Belgian and Luxembourgish audit industry is analysed. Therefore, the following research questions are asked: How do Big Data and Data Analytics influence the audit working method? What is the impact of Big Data and Data Analytics on the audit quality? How is the audit risk identification and assessment phase influenced? Which audit risks can be identified? Which tools and techniques do the Belgian and Luxembourgish auditors use and where do they stand? In order to answer the research question, scientific articles were analysed in the context of the literature review. Subsequently, a case study was carried out. Interviews with experts in Belgium and Luxembourg were conducted. The results of the research show that there is high potential to use these technologies in audit. Nevertheless, it is also connected with initial investments and a certain agreement of the clients. There is high potential to enhance the auditor’s effectiveness and efficiency, but the complete impact cannot yet be analysed. The audit quality can be enhanced when qualitative analyses generates audit evidence based on high quality data. The Belgian and Luxembourgish audit industry has just started implementing the technologies.

Party autonomy and sovereignty. Historical developments on party autonomy, the evolution of choice of law. The freedom of choice. The freedom not to choose, absence of choice. Limits to the freedom of choice. Limits to the freedom of choice, an expression of sovereignty. Same functions, different results.

Almost eight years after the enactment of the business rescue regime under the Companies Act 71 of 2008, and a plethora of judgments which have probed and prodded its provisions, it is an opportune time to ascertain whether the business rescue regime is an effective corporate rescue mechanism suitable to the modern day demands of the South African economy. In the current economic downturn, South Africa can ill afford a repeat show of the failed judicial management system. It requires a modern and effective corporate rescue mechanism that can be utilised in appropriate circumstances as a viable alternative and not merely a precursor to liquidation. This dissertation seeks to provide a critical analysis of the effectiveness of the business rescue regime to ascertain its worthiness as a corporate rescue mechanism.

The Abuja Treaty is the blueprint and reference point for continental-level economic integration that was first established in 1991 to see to the creation of an African Economic Community (AEC). The Treaty acknowledges that, the African continent, as a unified unit of countries, wields immense power in the international system, in terms of trade and political influence, and thus it seeks to bring to fruition a highly integrated Africa. This study strives to evaluate the progress made on the implementation of the Treaty Establishing the African Economic Community (AEC) by comparing two regional blocs, the Economic Community of Central African States (ECCAS) and the Economic Community of West African States (ECOWAS), which serve as 2 of 8 building blocks for the realisation of the AEC. Accordingly, the research method used was qualitative and employed a purposive sampling method that draws on the selection of experts in the field of regional integration to shape the outcome of the study. The research findings include the fact that regional integration, on the continent, has progressed positively although it manifests slowly. Additionally, it found that both the ECOWAS and the ECCAS have progressed in terms of the implementation of the stages of the Abuja Treaty, although the former surpasses the latter in this regard. Yet, in spite of their progress, both RECs have faced challenges unique to their regions. ECOWAS for instance faces the problem of inability to completely enforce protocols on free movement of persons. The lack of national implementation of free movement legislation creates avenues for its ineffectiveness. Border checks are commonplace and there is very little standardization of official forms. ECCAS on the other hand faces a problem of overlapping goals and ideas with CEMAC as well as the failure of member states to carry out agreed decisions within their states due to issues such as conflict and instability in the region. On a whole, the study refutes the common idea that the Abuja Treaty has not been implemented at all but only sees its implementation as slow-paced.

Suite aux diverses mutations qu’a connu le monde économique et financier ces dernières années et qui ont fortement grevé l’activité bancaire, le risque de crédit s’est distingué des autres risques bancaires, et s’est imposé comme étant le centre des préoccupations de toute banque désireuse de rester compétitive. Une attention toute particulière doit lui être accordée et ce en raison des conséquences graves qu’il peut produire. La crise financière de 2008 a mis en exergue les déficiences du mode de provisionnement prôné par la norme IAS 39, ayant été caractérisé de tardive et de pro-cyclique. Pour ces raisons, l’IASB a publié la version finale de la norme IFRS 9 en 2014, mais son application a commencé en 2018. cette norme exige des banques de constituer des provisions pour pertes même pour les crédits sains. Elle introduit aussi une nouvelle logique de classification et d’évaluation des actifs financiers. L’objectif de cette étude est de mettre en évidence la manière dont le risque de crédit est évalué, ainsi que la constatation des provisions conformément à la norme IFRS 9.

The separate legal personality of a company is one of the cornerstones of modern corporate law. Nevertheless, due to the artificial nature of a company it has no inherent moral blameworthiness necessary to impose corporate liability. With a rise in corporate wrongdoing, there is a need to hold companies liable. Therefore, certain models of attribution have developed whereby the conduct and will of a corporate actor can be imputed to the company to establish corporate liability. Especially in the realm of corporate criminal liability, these models of attribution have played a pivotal role to establish corporate wrongdoing. The two broad theories underlying the models of attribution are the fiction and realist theories respectively. The directing minds doctrine or identification doctrine and the vicarious liability model are traditionally associated with the fiction theory, which is rooted in the abstract nature of a company. Whether the traditional models of attribution are suited for complex modern organisational structures, is explored in this thesis, whilst a more functional and realistic approach to corporate liability is proposed. Often the question of “what is a corporation” has overshadowed the determination of corporate liability, thus a more contextual analysis based on law and economics is proposed to ensure corporate liability. The development of the rules of attribution through case law illustrate the importance of a purposive approach to establishing corporate liability. Furthermore, the underlying relationship between the rules of attribution and the rules of agency indicate that the interests of risk-bearers and managers are not always aligned and should be redressed. Moreover, a realist approach as opposed to the fictional approach to attribution has been developed in English and Australian law. This approach focuses on the overarching corporate culture and identity when determining corporate fault, instead of individual corporate actors. These regulatory frameworks provide an alternative approach to the current South African model, which is based on the fiction theory. Lastly, the economic considerations, such as the separation of ownership and control and the agency problem, are evaluated to determine whether the current models of attribution create an economically efficient outcome or an unsustainable a risk-taking environment.

Ce travail traite principalement de l’administration de la preuve en arbitrage international. Cette question divise les praticiens du monde arbitral en deux camps : ceux issus de la tradition de common law et ceux issus de la tradition de civil law. Dans un premier temps, les règles de l’International Bar Association relatives à l’administration de la preuve ont tenté de concilier ces deux traditions juridiques différentes. Dans un second temps, les règles de Prague ont, récemment, été publiées ce qui nous permettra, dans ce travail, d’analyser les deux systèmes pour ensuite les comparer. Enfin, nous essayerons d’envisager l’avenir de ces nouvelles règles de Prague.

L’arbitrage, en tant que justice privée, s’entend comme un mode de règlement des différends tant alternatif qu’antagoniste de la justice étatique. Dépourvu d’imperium, l’arbitre peut nécessiter le soutien et la coopération du juge pour traiter une procédure arbitrale. Divers droits contemporains de l’arbitrage envisagent explicitement le recours aux mesures provisoires et conservatoires lors d’un arbitrage interne ou international sans nécessairement apporter une définition de ces mesures. En matière d’arbitrage, les mesures provisoires et conservatoires détiennent un rôle capital préalablement ou durant l’instance arbitrale. Elles permettent le maintien d’une preuve, d’une situation de fait ou de droit et garantissent ou préparent une exécution efficiente et rapide de la sentence. La réunion dans le chef de l’arbitre de la compétence au fond et celle au provisoire peut être défavorable aux intérêts des parties, notamment lorsque le tribunal arbitral n’est pas encore saisi. Dès lors, prenant en considération les particularités de l’arbitrage et plus particulièrement du déroulement du procès arbitral, l’intervention du juge est indispensable pour résoudre temporairement une urgence sur le fondement de l’apparence d’un droit afin de conférer une force exécutoire aux décisions de l’arbitre. Le tribunal arbitral n’est pas seul à décerner ces mesures. Il est subséquemment légitime de se questionner sur la position du juge au sujet des mesures provisoires et conservatoires lors d’un arbitrage. Après analyse des diverses dispositions du Code de l’arbitrage, il résulte que le législateur met un point d’honneur à orchestrer la relation entre l’arbitre et le juge étatique. Pour ce faire, il opte pour une distribution de compétences entre le juge du provisoire et l’arbitre, une sorte de répartition qui implique un retrait de la compétence exclusive de l’arbitre en termes de mesures provisoires et conservatoires. Aussi, délibérément choisi par les parties, l’arbitre prononce le droit, mais sa décision est dénuée d’imperium. C’est la raison pour laquelle le recours au juge étatique est indispensable afin de soutenir sa décision. En matière de mesures provisoires et conservatoires, la compétence du juge judiciaire est à la fois partagée avec l’arbitre, mais aussi exclusive.

Please refer to full text to view abstract. <br>LL.M. (International Commercial Law)

Please refer to full text to view abstract. <br>LL.M. (International Commercial Law)

Please refer to full text to view abstract. <br>LL.M. (International Commercial Law)

En matière de règlement des litiges commerciaux, la mise en place de l’Organisation mondiale du commerce (OMC) est marquée par l’instauration d’un système de règlement des différends davantage axé sur la primauté du droit. Cette juridictionnalisation du mécanisme de règlement des différends n’entraîne toutefois pas un changement paradigmatique au niveau du mécanisme d’exécution des décisions et recommandations de l’Organe de règlement des différends (ORD). En effet, l’OMC a jusqu’à présent conservé en substance le principe du GATT de 1947; la partie plaignante qui constate le défaut de la partie visée par la plainte de se plier aux décisions et recommandations de l’ORD à l’expiration du délai raisonnable qui lui est accordé pour s’exécuter et qui ne peut s’entendre avec cette dernière sur l’octroi d’une compensation n’a d’autre option que de s’en remettre à l’emploi de contremesures. Parallèlement, le commerce international a, au cours de la même période, subi une métamorphose radicale : le phénomène de la fragmentation internationale des processus de production de biens et de services a connu une expansion fulgurante. Le présent mémoire propose une analyse de l’institution des contre-mesures à l’OMC à l’aune de ces changements qui affectent depuis peu l’économie mondiale ainsi que des développements récents du côté de la science économique. Misant sur une approche qui mobilise à la fois la science juridique et la science économique, le mémoire démontre que le système des contre-mesures n’est pas adapté à la réalité du commerce international du XXIe siècle. À la lumière de ces constats, l’étude explore de façon critique les diverses suggestions en vue de modifier la phase de mise en oeuvre des contentieux en plus de suggérer une réforme de l’institution pouvant s’opérer à l’intérieur du cadre juridique actuel. Mots-clés : Règlement des différends – Firmes multinationales – Commerce international – Chaînes de valeur mondiales – Intégration économique

Abstract : Please refer to full text to view abstract. <br>LL.M. (Commercial Law)

Abstract : Please refer to full text to view abstract. <br>LL.M. (Commercial Law)

Chapter 6 of the companies Act has attempted to resolve problems created by the ineffectiveness of judicial management which has failed to provide suitable alternative to the liquidation. The process of business rescue proceedings has made some impact on the liability of sureties in so far as it relates to creditors. Moratorium has been imposed once the business rescue proceedings commences and therefore the principal debtors are protected against any legal action unless the court or business rescue practitioner has consented thereto. The question is what is the impact of the business rescue proceedings on the rights of creditors against the sureties of the company under business rescue proceedings and what is the judicial position in so far as it relates to liabilities of sureties during business rescue proceedings, finally what is the position of comparative law in respect of other foreign Jurisprudence terms of business rescue proceedings and the liability of sureties. The South African Companies Act does not regulate the situation of creditor’s rights against sureties of a financially distressed Company. In terms of American law, the situation is different. Creditor’s rights against non-debtors (including sureties) is regulated by Bankruptcy Codes. In terms of bankruptcy codes, the discharge of a debtor does not affect the liability of the nondebtors or other entities. There are divergent views in terms of South African Court decisions in respect of liability of sureties. Some Judges believe that the commencement of business rescue proceedings does not affect the liability of sureties and others are of the view that the beginning of business rescue proceedings releases sureties from their obligations towards creditors unless business rescue plan or deed of suretyship provides otherwise. It is therefore recommended that our legislature introduces some new sections into the companies act. One Section should be similar to section 524(e) of the bankruptcy codes which expressly states that a discharge granted to the principal debtor does not affect the liability of sureties towards creditors. Another section should be similar to section 105(a), which provide courts with powers to make any order to realize the objectives of the companies act. This to avoid conflicting courts decisions on this issue.