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I. Legislative background . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300 II. Authors and purpose of the present paper . . . . . . . . . . . . . . . . . . . . . . 301 III. Two types of subsidiaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 302 IV. Parent’s right to give directions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303 V. The Service Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303 VI. The Ordinary Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 304 VII. Opting in . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305 VIII. Publicity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305 IX. Sanctions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305 X. Crisis and Administration under insolvency law . . . . . . . . . . . . . . . . . . 306 XI. Legislative steps suggested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 306

Proposal to Facilitate the Management of Cross-Border company Groups in Europe