On the 25th of October 2017, the CJEU rendered a ruling in the Polbud case. The ruling shows that the CJEU is determined to embrace a further liberalization of the free movement of companies in the internal market. The Court’s confidence and no-compromise approach brings with it a number of effects. First of all, the Court has detached the transfer of the registered office from the traditional notion of establishment. The registered office can be relocated by ‘will alone’, irrespective of whether it is justified by the actual conduct of business or the company’s structure. Secondly, the author discusses in detail the fate of the real seat in the light of the Polbud judgment. After the Polbud ruling, the real seat has lost most of its functionality that had already been diminished by the Court’s earlier case law. Now a company incorporated in a real seat jurisdiction can easily ‘contract out’ by performing a cross-border conversion. Hence, the real seat mainly preserves its role as a precondition for incorporation. Finally, the ruling underlines more than ever that the CJEU focuses on the protection of the private interests of companies by allowing them to choose a favourable legal order. Economic interests of the Member States are of lesser importance under the Court’s approach.

中文翻译：

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波尔布德案后公司的自由流动

2017 年 10 月 25 日，欧洲法院对 Polbud 案作出裁决。该裁决表明，欧盟法院决心进一步放开公司在内部市场的自由流动。法院的信心和不妥协的态度带来了许多影响。首先，法院将注册办事处的转移与传统的设立概念分开。注册办事处可以“仅凭意愿”搬迁，无论其实际业务行为或公司结构是否合理。其次，作者结合波尔布德案的判决，详细论述了真正席位的命运。在 Polbud 裁决之后，真正的席位已经失去了大部分功能，而这些功能已经被法院早期的判例法削弱了。现在，在真实管辖区注册成立的公司可以通过执行跨境转换轻松“外包”。因此，真正的席位主要保留其作为合并前提的作用。最后，该裁决比以往任何时候都更加强调欧洲法院通过允许公司选择有利的法律​​秩序来保护公司的私人利益。根据法院的做法，成员国的经济利益不太重要。