Hillary A. Sale, JD, the Walter D. Coles Professor of Law and professor of management at Washington University School of Law in St. Louis, recently attended a conference in Vienna, Austria. There, securities and corporate governance experts gathered to comment on the final draft of a model statute that may influence corporate law throughout the European Union. Sale was among four American academics invited to participate.
“This ambitious project is much like the Model Business Corporation Act, published by the Corporate Laws Committee of the American Bar Association,” Sale said. “Its goal is to produce a European Model Companies Act (EMCA) that individual states are free to adopt in whole or in part. Ultimately, it is hoped that the EMCA will be widely adopted, in whole or in part, thereby promoting more uniformity in the law of companies throughout the European Union.”