Sections Overview
The following are subject to the shareholders’ disposition:
- 1. the approval of the annual financial statements and the appropriation of earnings;
- 1a. decisions concerning the disclosure of separate financial statements in accordance with international accounting standards (section 325 (2a) of the Commercial Code) and concerning the approval of the financial statements prepared by the directors;
- 1b. the approval of consolidated financial statements prepared by the directors;
- 2. the calling in of capital contributions;
- 3. the repayment of additional contributions;
- 4. the division of, grouping and collection of shares;
- 5. the appointment and dismissal of the directors, as well as their discharge;
- 6. the regulation of audits and oversight of the management;
- 7. the appointment of those vested with the general commercial power of representation and those vested with the commercial power of attorney for the entire business establishment;
- 8. the assertion of claims for compensation to which the company is entitled as a result of formation or management vis-à-vis directors or shareholders, as well as the representation of the company in proceedings being conducted against the directors.
Author & Law firm
Ich bin spezialisiert auf das Gesellschaftsrecht und M&A. Dabei berate ich Mandanten in allen Fragen mit Bezug zu Fusionen und Akquirisitonen und vertrete Mandanten in streitigen sowie Schiedsgerichtsverfahren mit Bezug zu Gesellschaftsrechtlichen sowie Auseinandersetzungen in der Folge von M&A-Vorgängen. Ich habe Mandanten in grenzüberschreitenden Projekten, teilweise in Multi-Juristdiktionalen M&A-Projekten beraten sowie in komplexen joint venture-Vereinbarungen. Meine M&A Erfahrung umfaßt die Akquisition von Firmen unter Verwaltung (distressed M& A).
Weiterhin berate ich in allen allgemeinen Gesellschaftsrechtlichen Fragen einschließlich Restrukturierungen. Meine Branchenerfahrung umfaßt den Handels sowie die Modeindustrie, die chemische Industrie, Versicherungen, den Lebensmittelhandel sowie die Immobilien- und Baubranche. Regional bin ich in Europa, dem Mittleren Osten und den Vereinigten Staaten tätig.
Tätigkeitsschwerpunkte
- Gesellschaftsrecht
- Arbeitsrecht
- Gewerblicher Rechtsschutz, Wettbewerbsrecht
- Immobilienrecht
- Mergers & Acquisitions
- Streitbeilegung, Litigation, Mediation
- Mietrecht
Karriere
- Seit Juni 2023 Rechtsanwalt und Partner bei Grant Thornton Legal
- Seit 2020 Partner bei Deloitte Legal Rechtsanwaltsgesellschaft mbH
- Seit 2016 Managing Partner bei DWF Germany Rechtsanwaltsgesellschaft mbH
- Seit 2012 Managing Partner bei BridgehouseLaw Germany Rechtsanwaltsgesellschaft mbH Köln
- 2008 to 2012 Associate bei Cleary Gottlieb Steen & Hamilton LLP
- 2007 to 2008 Associate bei Shearman & Sterling LLP
- 2007 Zulassung als Rechtsanwalt
- 2005 bis 2007 Landgericht Karlsruhe, Germany
- 2001 bis 2005 Albert-Ludwigs-Universität Freiburg, Abschluß in Jura und Anthropologie
- 1998 bis 2001 Studium an der Brandon University, Canada; Hauptfach Native Studies (B.G.S.)
- 1990 bis 2001 Bundeswehr
Der Schwerpunkt der Beratungspraxis von Boris Kröpsky liegt in den Bereichen Handels- und Gesellschaftsrecht, M & A, Vertriebsrecht, insbesondere Handelsvertreterrecht sowie im nationalen und internationalen Vertragsrecht und im Recht der Allgemeinen Geschäftsbedingungen. Herr Kröpsky hat die theoretischen Stufen der Ausbildung zum Fachanwalt für Handels- und Gesellschaftsrecht sowie für Steuerrecht erfolgreich bestanden. In Kürze wird er die praktische Phase der Ausbildung zum Fachanwalt für Handels- und Gesellschaftsrecht abschließen.
Tätigkeitsschwerpunkte
- Gesellschaftsrecht
- Nationales und internationales Vertragsrecht, AGB
- Informationstechnologie (IT), Telekommunikation (TC)
- Merger & Acquisition
- Bankrecht
- Vertriebsrecht / Handelsvertreterrecht / Franchising
- Datenschutz &Compliance
Karriere
- Seit Juni 2023 Rechtsanwalt bei der Grant Thornton Rechtsanwaltsgesellschaft mbH
- Seit 2020 Partner bei Deloitte Legal Rechtsanwaltsgesellschaft mbH
- Seit 2016 Partner bei DWF Germany Rechtsanwaltsgesellschaft mbH
- Seit 2015 Partner bei BridgehouseLaw Germany Rechtsanwaltsgesellschaft mbH
- Seit 2010 Rechtsanwalt bei BridgehouseLaw Germany Rechtsanwaltsgesellschaft mbH Köln
- 2009 - 2010 Rechtsanwalt bei Reif Rechtsanwälte
- 2008 Fachanwaltsausbildung im Handels- und Gesellschaftsrecht sowie im Steuerrecht
- 2007 - 2008 Rechtsanwalt bei Schneider & Wixforth
- 2007 Zulassung als Rechtsanwalt
- 1997 - 2003 Jurastudium in Bielefeld
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To Commentary for lawyers
on Section § 46 Aufgabenkreis der Gesellschafter
Relevance for legal relations
Importance for legal relations and transactions
a) § 46 GmbHG from the shareholders’ perspective
For the shareholders of a GmbH (German limited liability company), § 46 GmbHG (German Act on limited liability companies) is one of the key provisions of the GmbHG. § 46 GmbHG is about the rights and powers which the shareholders of a GmbH are entitled to exercise jointly. Regardless thereof, each shareholder of a GmbH is also individually entitled to certain rights, such as the right to information and inspection according to § 51a GmbHG.
However, the powers of the shareholders as a corporate whole – the so-called shareholders’ assembly – go beyond the individual shareholders’ rights. After all, pursuant to the legislator’s concept, the shareholders’ assembly is the supreme executive body of a typical GmbH. Karsten Schmidt in: Scholz, GmbHG, 11th ed. (2014), vol. II, § 45 para. 5; Liebscher in: Münchener Kommentar zum GmbHG, vol. II, 2nd ed. (2016), § 45 para. 81. As a rule, the shareholders as the owners of the GmbH have overarching responsibility and authority. Zöllner/Noack in: Baumbach/Hueck, GmbHG, 21st ed. (2017), § 46 para. 91; Karsten Schmidt in: Scholz, GmbHG, 11th ed. (2014), vol. II, § 46 para. 1. Generally, the shareholders’ assembly may by way of resolution declare itself solely responsible for any decision and give instructions to the managing directors.
As to the details, which is explicitly stipulated by § 45 GmbHG, the rights of the shareholders as a corporate whole are governed by the articles of association (“Gesellschaftsvertrag”). Thus, as a rule, the shareholders themselves are responsible for assigning the powers and authorities to the different executive bodies of the GmbH. Only if, and to the extent that the articles of association do not contain special provisions or the provisions of the articles of association are contrary to mandatory law, the shareholders’ rights and powers are defined by and subject to the applicable statutory provisions.
In this context, for the shareholders, § 46 GmbHG is the central provision. § 46 GmbHG lists a series of issues that are subject to the shareholders’ decision. If and to the extent the articles of association do not contain provisions to the contrary, the issues listed in § 46 No. 1 – 8 GmbHG thus are subject to the shareholders’ resolution.
As a rule, the shareholders exercise their powers by passing resolutions (§ 47 subs. I GmbHG) in shareholders’ meetings (§ 48 GmbHG) according to the procedures and requirements stipulated in the articles of associations resp. in §§ 45 et seqq. GmbHG. See the comments on §§ 47 to 51 GmbHG for further details regarding the adoption of resolutions.
However, the list of responsibilities in § 46 GmbHG is not exhaustive. Further rights and responsibilities of the shareholders are also stipulated in other provisions of the GmbHG. Cf. e.g. § 53 subs. I GmbHG, § 37 subs. I GmbHG and the survey of further responsibilities in chapter II.2.11 of these comments. In addition, further rights and responsibilities of the shareholders are also defined by other laws. Cf. e.g. § 13 subs. I Umwandlungsgesetz (German Company Transformation Act – “UmwG”) and the survey of further responsibilities in chapter II.2.11 of these comments.
The list contained in § 46 GmbHG is not mandatory. Rather, as can be seen from § 45 GmbHG, the shareholders are entitled to restrict or extend the shareholders’ responsibilities by appropriate provisions in the articles of association. See the comments on the various numbers of § 46 GmbHG for options to restrict the relevant responsibilities of the shareholders’ assembly and chapter II.2.11 for a survey of further responsibilities.
b) § 46 GmbHG from the managing directors’ perspective
For the managing directors of a GmbH, § 46 GmbHG is important because the managing directors are not allowed to decide on their own on the issues which, by virtue of § 46 GmbHG or the articles of association, are assigned to the responsibility of the shareholders’ assembly. The responsibility for deciding on these issues rather lies exclusively with the shareholders of the GmbH as a corporate whole.
c) § 46 GmbHG from third parties’ perspective
From the perspective of third parties, § 46 GmbHG is of subordinate importance only because the provision primarily pertains to the responsibilities of the different executive bodies within the company but not the managing directors’ authority to represent the company. Cf. in this context also § 37 GmbHG.
§ 46 GmbHG is one of the key competence regulations of the GmbHG. It assigns certain issues and transactions to the responsibility of the shareholders’ assembly and thus withdraws it from the managing directors’ responsibility. However, the list of responsibilities contained in § 46 GmbHG is neither complete nor exhaustive. See the comments on the various numbers of § 46 GmbHG for options to restrict the relevant responsibilities of the shareholders’ assembly and chapter II.2.11 for a survey of further responsibilities. Rather, as is made clear by § 45 GmbHG, the shareholders’ rights in the context of corporate issues are essentially defined by the articles of association if and to the extent they are not contrary to mandatory law. If however the articles of association do not contain (valid) special provisions governing the shareholders’ rights, the provisions of §§ 46 to 51 GmbHG apply.
The fact that certain issues are assigned to the shareholders’ responsibility means at the same time that these issues are excluded from the decision-making authority of the other executive bodies of the company. Zöllner/Noack in: Baumbach/Hueck, GmbHG, 21st ed. (2017), § 46 para. 2; Liebscher in: Münchener Kommentar zum GmbHG, vol. II, 2nd ed. (2016), § 46 para. 2. § 46 GmbHG thus helps to define the scope of the specific organizational responsibilities of the different executive bodies of the company and confirms the shareholders’ assembly’s position as the supreme executive body of the GmbH, which is in line with the legislator’s concept. Zöllner/Noack in: Baumbach/Hueck, GmbHG, 21st ed. (2017), § 46 para. 2; Liebscher in: Münchener Kommentar zum GmbHG, vol. II, 2nd ed. (2016), § 46 para. 2.
The decision on the issues listed in § 46 GmbHG – as well as on other matters assigned to the shareholders’ assembly’s responsibility – is taken by resolution of the shareholders’ assembly, as is provided for by §§ 47 subs. I, 48 subs. I GmbHG. As a rule, resolutions by the shareholders’ assembly are adopted by the simple majority of the votes cast (§ 47 subs. I GmbHG), either in a shareholders’ meeting or by written procedure (§ 48 subs. I, II GmbHG), unless otherwise provided for by the articles of association. See comments on §§ 47 to 51 GmbHG for further details regarding the adoption of resolutions.
The list of responsibilities contained in § 46 GmbHG is not exhaustive. Rather, other provisions in the GmbHG also define further responsibilities of the shareholders’ assembly (cf. § 53 GmbHG). As can already be seen from § 45 GmbHG, the list of responsibilities contained in § 46 GmbH is not mandatory either which means that generally the scope of the shareholders’ responsibilities stipulated in § 46 GmbHG can be extended or restricted by the articles of association. Karsten Schmidt in: Scholz, GmbHG, 11th ed. (2014), vol. II, § 46 para. 2; Zöllner in: Baumbach/Hueck, GmbHG, 21st ed. (2017), § 46 para. 5.
Moreover, the shareholders’ assembly as the supreme executive body of the GmbH is assigned sort of general overarching authority which enables the shareholders to accroach other executive bodies’ authority, unless this would be contrary to the law or the articles of association.
a) Adoption of the annual financial statements and profit appropriation (No. 1)
Pursuant to the law, one has to distinguish between drawing up and adopting the annual financial statements. § 46 No. 1 GmbHG provides that the adoption of the financial statements as well as the decision on profit appropriation is the shareholders’ responsibility whereas pursuant to § 263 subs. I clause 3 HGB (German Commercial Code) drawing up the financial statements is the managing directors’ responsibility.
Drawing up the financial statements is part of the accountability obligation incumbent on the managing directors whereby the managing directors seek formal approval of their actions by the shareholders’ assembly. Winnefeld, Bilanz-Handbuch, 5th ed. (2015), chapter H, para. 5. The shareholders’ assembly, by adopting the financial statements, acknowledges that the