The concentration of companies in groups of societies

Abstract

A notion of a group of societies presents several problems, which have their origins in the same terminology, since it is not only uncertain, but the authors give it different meanings, nor is uniformity of judgment offered by the different laws. It has been called an economic set, related societies, economic linkage, community of interests, chained societies, company imbrication, as well as other similar expressions. Although, with some differences, they all refer to legally independent companies or persons, unemployment linked to each other, whether by capital, contract or personal link. Its possibility lies in the absence of the "intuitue personae" in the social contract, at least in capital companies, which allows to constitute more than one company by shares among the same partners, which the law does not prohibit or have reason to do so; in addition to allowing companies to be formed by shares between a company and one or more natural persons, or between several companies. While talking about relationships of kinship between societies may seem "legal adefesio", the truth is that, although they cannot occur between unborn moral persons of affiliation, there are voluntarily created links that establish, in the words of RIPERT "a certain solidarity of interests reminiscent of family solidarity", they are "societies of societies". As regards the characteristics of the group of companies, there seems to be agreement that it involves at least the presence of different companies and the lack of legal personality of the group as such. It is according to the doctrine that there is a group of societies when relations are established between societies even if they are of different nationality, and that the phenomenon is presented in companies by shares almost exclusively. There is no doubt that a capital company can assume the position of sole shareholder; more is not so peaceful in that it is a society of people, at least in the reality of the business world. Argentine law, article 33 of Law 19.550, says in this regard that are controlled companies those in which another society, directly or through another society in turn controlled, holds participation for any title that gives these necessary votes to form the social will.