In Germany, derivative actions are provided for in the Aktiengesetz
[AktG] [Stock Corporation Act], Sept.
(130) See for instance Article 12, paragraph 3 of the Austrian Aktiengesetz
[AktG] [Stock Corporation Act], 30 January 1937, RGBl I S 107, art 70 s 1.
This economically useful hybrid role initially generated some legal issues in Germany (the challenge was to make the SEDA work under the rigid German Aktiengesetz
, the German Stock law), which had to be overcome when using the SEDA for the first time in this country.
German Stock Corporation Act (Aktiengesetz
) with GENEART AG as the dominated entity and Applied Biosystems Deutschland GmbH as the dominating entity.
) 93-11 recognizes the responsibility of the whole
THOMAS KUSTOR, DIRECTORS AND OFFICERS LIABILITY IN AUSTRIA at 1b, 2 (Freshfields Bruckhaus Deringer, July 2002), available at http://www.aiu.com/aiu/PDF/Austria.pdf [last visited March 29, 2004] (discussing the Limited Liability Company Act (GmbH-Gesetz), and The Stock Corporation Act (Aktiengesetz
2003), with Aktiengesetz
[section] 89 (Hannes Schneider & Martin Heidenhaii eds., 1996) (Series of Legislation in Translation No.