HistoPol (#HP) 🏴 🇺🇸 🏴
#Shareholder liability #Fedilaw #Legal
(1/n)
I can follow you train of thought, Bernd.
The way you portray the opium trade and the British East India Company's (EIC) example, I do see the moral hazard. We can both agree that it was morally wrong.
I am no specialist in medieval English law, but the EIC received a royal charter and thus was a legal company in Britain. Owning shares in that joint-stock company was legal, so there cannot be a liability...
HistoPol (#HP) 🏴 🇺🇸 🏴
#Shareholder liability #Fedilaw #Legal
(2/n)
...of the shareholders beyond their shares.
According to the brief history I glanced at, policy was set by the Board of Directors. There probably were influential shareholders who really had a say in company policy. That would to be looked at individually. But overall, shareholders "only" have a limited legal but do have a moral liability.
BTW, the EIC was dissolved in 1974 due to the #Indian Rebellion of 1857, resulting...
HistoPol (#HP) 🏴 🇺🇸 🏴
#Shareholder liability #Fedilaw #Legal
(3/n)
in direct British colonial rule in #India, I did not see any connections to the opion trade in this respect.
Either way, I still think board members and other leading executives of a company, as well as the corporation itself
can be held to account.
As any debtor of a Chapter 11 company will tell you, if a company goes completely bust, the debtors get almost...
HistoPol (#HP) 🏴 🇺🇸 🏴
#Shareholder liability #Fedilaw #Legal
(4/5)
nothing. Having a still viable company working in the interest of (at least) the nation, like in #Norway, is way better than bankrupcy to make #BigOil pay for #Terracide.
Also, I would mind greatly if the Western world order did collapse. It isn't really western, per se. It is the international rules-based system that the survivors of the (regionally) apocalyptic WWII set to overcome the "right of the strongest"...
HistoPol (#HP) 🏴 🇺🇸 🏴
#Shareholder liability #Fedilaw #Legal
#United Nations
(5/5)
...too weak.
I can give an example of where the #UN should be going, and that is the recent inspiring speech at the #UnitedNations by the Prime Minister of Barbados:
https://mastodon.social/@HistoPol/115408728308331168
//
HistoPol (#HP) 🏴 🇺🇸 🏴
#Shareholder liability #Fedilaw #Legal
#UnitedNations
(4/n)
...Man y countries have been seeing what this entails since WWII, if a superpower is involved, most recently #Ukraine, but also #Palestine (and, yes, I mean country). But we can easily think of Vietnam, Afghanistan, Iraq, etc.
The international order has lost its superpower and others are ignoring the rules-based system.
But this does not mean that it was the wrong way to go. Only, that it is incomplete and...
HistoPol (#HP) 🏴 🇺🇸 🏴
#Shareholder liability #Fedilaw #Legal
#UnitedNations
(5/5)
...that it lacks support, in particular of the former, current, and future superpowers.
I can give an example of where the #UN should be heading, IMHO, and that is the recent inspiring speech of the prime minister of #Barbados:
https://mastodon.social/@HistoPol/115408728308331168
//
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