Company Law

Course	L-202-FELA
Semester	2
ETCS	8
Core	Yes

Year	1. year
Semester	Spring 2024
Level of course	1. First cycle, introductory
Type of course	Core
Prerequisites	No prerequisites.
Schedule	Five lectures a week.
Lecturer	Arnljótur Ástvaldsson Helga Kristín Auðunsdóttir
Content
This is a basic course in company law. The course will begin with a discussion of the problems and legal sources of company law and the nature of cooperation under the corporate form, and will provide a comparison of that form with other forms of organisation and legal structures. An overview and a comparison of the features of the principal corporate forms under Icelandic law will be provided. The course places particular emphasis on public and private limited companies, as these are the most common corporate forms in Iceland. In this context, the typical company law problems that may arise in connection with the operation of a company will be addressed from both a theoretical and practical perspective, including issues relating to: (i) the features of the so-called limited liability of shareholders, including the inherent advantages and disadvantages, as well as the powers of the courts to lift the corporate veil; (ii) the founding of a company; (iii) the shares and share capital of a company, including the payment of share capital, own shares, dividend payments and loans and guarantees provided by a company in connection with the acquisition of shares; (iv) the management structure of limited companies, including the status of the board, managing director and shareholders, individually and in relation to each other; (v) the status (protection) of the creditors of a company; (vi) the financing of companies; (vii) groups of companies and related issues, including creditor protection; (viii) the merger, demerger and dissolution of companies; and (ix) the legal remedies available to parties who believe that their rights have been violated in connection with the operation of a company.
Learning outcome - Objectives
The goal is for students to acquire basic knowledge of the rules of Icelandic law governing the principal corporate forms and non-profit institutions, with particular emphasis on public and private limited companies. Students should also have acquired skills in addressing company law problems, both practical and theoretical.
Course assessment
Practical assignments, 30%, mid-term examination, 20% and a written final examination, 50%. Submission of assignments is required for taking the final examination.
Reading material
No reading material found.
Teaching and learning activities
Lectures, discussions and practical assignments.
Language of instruction	Icelandic