Subjective reestructuring in the worker-owned companies: separation and exclusion of partners

Abstract

This paper studies the right of separation and exclusion in the worker owned companies from the distinctive connotations of the capitalist societies comprised in the social economy. The article 16 of Law 44/2015, of October 14th, on Labor and Investee Companies (onwards we’ll use the Spanish acronym LSLyP) regulates, for the first time, the right of separation and the right of exclusion. This is one of its main novelties because there is not any other special regulation in the partner’s right of separation and exclusion in the worker owned companies. Both separation and exclusion of shareholders embody corporate internal structure adjustments facilitating continuity of work corporate organization; but these processes need a tailored treatment, within the more general scope of subjective restructuring in worker owned companies, that have not been adequately addressed in their new regulation.