Smulkiųjų akcininkų interesų apsaugos ir efektyvios įmonių perėmimo rinkos (angl. “efficient takeover market”) kategorijų konfliktiškas santykis privalomo akcijų pardavimo institute tampa pagrindine dilema įstatymų leidėjui nustatant privalomo akcijų pardavimo procedūrą ir įmonių perėmimus reguliuojančias taisykles. Privalomas akcijų pardavimas Lietuvoje yra ganėtinai naujas teisinis reiškinys. Tą patį galima pasakyti apie EB lygiu įtvirtintą šio instituto teisinio reguliavimo modelį. Kita vertus, kai kuriose ES valstybėse privalomo akcijų pardavimo teisė legalizuota gerokai anksčiau negu minėtasis, Tryliktąja įmonių teisės Direktyva dėl įmonių perėmimo pasiūlymų įtvirtintas, modelis. Ši koncepcija ilgesnį laiką žinoma ir JAV valstijų teisės sistemose. Privalomu akcijų pardavimu yra laikoma situacija, kai didysis įmonės akcininkas, kuris turi tam tikrą įmonės kontrolės dalį, savo iniciatyva už įstatymų numatytu būdu nustatytą kainą išperka įmonės smulkiųjų akcininkų turimas akcijas. Tryliktąja įmonių teisės direktyva pristatytas privalomo akcijų pardavimo modelis dėl direktyvoje naudoto minimalaus harmonizavimo metodo nesuvienodino ES valstybių nacionalinių privalomo akcijų pardavimo teisinio reguliavimo modelių, tiesiog kai kuriais atvejais tokios teisės taikymą išplėtė įmonių, kurių akcijomis prekiaujama reguliuojamoje rinkoje akcijų atžvilgiu. Nors privalomo akcijų pardavimo įgyvendinimo procedūros bei atvejai, kada ir kam galima tokia procedūra pasinaudoti, skiriasi... [toliau žr. visą tekstą] / Conflicting interests of minority shareholder protection and efficient takeover market constitute a fundamental dilemma for squeeze-out procedure and takeover regulation. Squeeze-out is a new concept in Lithuania. The same can be indicated about squeeze-out regulations on Community level. On the other hand, in some of EU member states the squeeze-out right was legalized well before the aforementioned Community rules on squeeze-outs were adopted in Thirteenth company law directive. Squeeze-out right is mature and well-known concept in USA. Squeeze-out right defines a situation where major shareholder, which has obtained particular amount of control in target company, on his own initiative forces minority shareholders to sell their shares to him for the price set under procedure prescribed by the laws. The regulation of squeeze-outs introduced by Thirteenth company law directive did nor manage to harmonize national squeeze-outs rules of member states as the Directive set only the minimum standards for national legislation. The only thing that was done by the Directive, was the extension of scope of national rules to include squeeze-out right given to all controllers of listed companies. Though procedures used to implement squeeze-outs and availability of squeeze-out right differ from jurisdiction to jurisdiction, similar practical and theoretical problems that rises because or in relation to with squeeze-out right can be identified. Within such problems the problem of “fair”... [to full text]

Darbe nagrinėjama su priverstiniais akcijų pirkimo – pardavimo būdais ir jų įgyvendinimu susiję klausimai. Autorius išskiria penkis savarankiškus priverstinio akcijų pirkimo – pardavimo būdus. Priverstinis akcijų (dalių, pajų) pardavimas, priverstinis akcijų pardavimas dėl negalėjimo įgyvendinti teises, privalomas oficialus pasiūlymas ir privalomas akcijų pardavimas ir pirkimas. Aukščiau minėtų institutų reglamentavimas Lietuvos Respublikos teisės aktuose yra pakankamas, tačiau šių institutų naujumas, teismų praktika ir normų išaiškinimo stoka paskatino detaliai aptarti ir išanalizuoti galiojusias ir tebegaliojančias priverstinio akcijų pirkimo – pardavimo būdų įgyvendinimo procedūrą nustatančias taisykles. Atsižvelgiant į tai, jog keli privalomo akcijų pirkimo – pardavimo įgijimo būdai yra sureglamentuoti Europos Sąjungos mąstu, taikant lyginamąjį, loginį, sisteminį ir istorinį metodus, aptariamas Europos Sąjungos teisės aktuose nustatytas reglamentavimas bei jo įgyvendinimas Lietuvos Respublikoje. Magistriniame darbe stengiamasi griežtai atskirti kiekvieną priverstinį akcijų pirkimo – pardavimo būdą bei jį individualizuoti. Nepaisant institutų skirtingo reglamentavimo lygio, autorius nuosekliai aptaria kiekvieno priverstinio akcijų pirkimo - pardavimo sąvoką, požymius, principus. Priverstinis akcijų (dalių, pajų) pardavimo institutas buvo perimtas iš vienu moderniausių laikomo Olandijos Civilinio kodekso ir perlkeltas į Lietuvos Respublikos Civilinį kodeksą. Išsamiai... [toliau žr. visą tekstą] / The analysis is being focused on the matters connected with means of forced sale and purchase of shares and its realization. Author excludes five independent means of forced sale and purchase of shares. Forced sale of shares (interest, contribution), forced sale of shares (interest, contribution) due to the failure to exercise the Rights properly, mandatory bid, squeeze-out and sell-out rule. The regulation of institutions mention above in the legal acts of the Republic of Lithuania is sufficient, however the novelty of institutions, the lack of judicial precedents and interpretation of law encouraged author to analyze and interpret the rules of forced sale and purchase of shares that were existing and that still exist. Considering that same means of forced sale and purchase of shares are regulated the legal acts of European Union, applying the historical, systemic, comparison and logical methods the regulation of legal acts of European Union and its implementation in the acts of the Republic of Lithuania is being analyzed. It is tried strictly to exclude every mean of forced sale and purchase of shares and to individualize each. Despite the different level of regulation, author successively discusses conception, signs and principles of every forced sale and purchase of shares. Forced sale of shares (interest, contribution) was being taken from one of the modest civil code of Netherlands and implemented in civil code of the Republic of Lithuania. Exhaustively revealing the... [to full text]

Zusammenfassung: Ausschluss von Minderheiten (Zwangsübergang von Beteiligungswertpapieren) Diese Arbeit befasst sich mit dem Recht auf einen nachträglichen Ausgleich bei dem Zwangsübergang von Beteiligungswertpapieren, das eine der Grundvoraussetzungen der Verfassungsmäßigkeit des Ausschlusses von Minderheiten darstellt. Die gerichtliche Nachprüfung der den verdrängten Inhabern bezahlten Abfindung sowie der Ablauf der Bezahlung des nachträglichen Ausgleichs werden in dem Text der Arbeit ausführlich erörtert. Ziel dieser Arbeit ist es, die umstrittenen und unklaren Bestimmungen der wirksamen Regelung des Rechts auf einen nachträglichen Ausgleich aufzuzeigen, mögliche Auslegungen solcher Bestimmungen darzulegen und aus diesen die geeignetste Auslegung zu wählen. Diese Auslegung wird dann mit den zur Regelung des Ausschlusses im Handelsgesetzbuch verfassten Schlussfolgerungen der Rechtsprechung verglichen um zu beurteilen, ob diese Schlussfolgerungen der Rechtsprechung auch nach dem 01. 01. 2014 weiterhin gelten. In dieser Arbeit wird die Bedeutung des Rechts auf einen nachträglichen Ausgleich sowie die allgemeinen Aspekte der Geltendmachung dieses Rechts erklärt. Das gerichtliche Verfahren und die außengerichtliche Vereinbarung das nachträgliche Ausgleich wird ausführlich erörtert. Der Ablauf der Bezahlung...

Composites have been developed with great success by the use of fiber reinforcements in metallic materials. Fiber reinforced metal matrices possess great potential to be the next generation of advanced composites offering many advantages compared to fiber reinforced polymers. Specific advantages include high temperature capability, superior environmental stability, better transverse modulus, shear and fatigue properties. Although many Metal Matrix Composites (MMCs) are attractive for use in different industrial applications, Aluminium Matrix Composites (AMCs) are the most used in advanced applications because they combine acceptable strength, low density, durability, machinability, availability, effectiveness and cost. The present study focuses on the fabrication of aluminium matrix composite plates by squeeze casting using plain weave carbon fiber preform (AS4 Hexcel) as reinforcement and a matrix of wrought aluminium alloy 1235-H19. The objective is to investigate the process feasibility and resulting materials properties such as hardness at macro- and micro-scale, impact and bend strength. The properties obtained are compared with those of 6061/1235-H19 aluminium plates that were manufactured under the same fabrication conditions. The effect of fiber volume fraction on the properties is also investigated. Furthermore, the characterization of the microstructure is done using Optical Microscopy (OM) and Scanning Electron Microscopy (SEM) in order to establish relationships between the quality of the fiber/aluminium interface bond and mechanical properties of the composites. In conclusion, aluminium matrix composite laminate plates were successfully produced. The composites show a good chemical bond between the fiber and the aluminium matrix. This bond resulted from heterogeneous precipitation of aluminium carbides (Al4C3) at the interface between aluminium matrix and carbon fiber. The hardness at macro- and micro-scale of the composites increases by over 50% and the flexural modulus increases by about 55%. The toughness of the composite decreases due to the presence of brittle phases which can be improved by better oxidation prevention. Also, an optimal carbon volume fraction was observed that provides optimal properties including peak hardness, peak stiffness and peak toughness.

The thesis is focused on state interventions and regulation on field of stock exchanges. On special examples I show for and against argumentation of real precautions. I repeal the questions of public konvenience of these precautions. In the first part of the thesis I begin with historical genesis of exchange especially in our area including the origin -- private or state. The first part continue with theoretical functions of stock exchange and its fulfilment in case of The Stock Exchange in Prague. In the second part I present dilemma of squeeze-out or expropriation of minority shareholders.There will be arguments of proposers, opponents and also neutral arbiter representing by The Constitutional Court of the Czech Republic. In the third part of the thesis I present an example of foreign regulation. It is Sarbanes-Oxley Act with its impact on different entities. In conclusion I propose some changes and I want to give a support to discussion about state admission to regulation of stock markets.

Typical aero-engine assemblies have at least two nested rotors mounted within a flexible casing via squeeze-film damper (SFD) bearings. As a result, the flexible casing structures become highly sensitive to the vibration excitation arising from the High and Low pressure rotors. Lowering vibrations at the aircraft engine casing can reduce harmful effects on the aircraft engine. Inverse problem techniques provide a means toward solving the unbalance identification problem for a rotordynamic system supported by nonlinear SFD bearings, requiring prior knowledge of the structure and measurements of vibrations at the casing. This thesis presents two inverse solution techniques for the nonlinear rotordynamic inverse problem, which are focused on applications where the rotor is inaccessible under operating conditions, e.g. high pressure rotors. Numerical and experimental validations under hitherto unconsidered conditions have been conducted to test the robustness of each technique. The main contributions of this thesis are:• The development of a non-invasive inverse procedure for unbalance identification and balancing of a nonlinear SFD rotordynamic system. This method requires at least a linear connection to ensure a well-conditioned explicit relationship between the casing vibration and the rotor unbalance via frequency response functions. The method makes no simplifying assumptions made in previous research e.g. neglect of gyroscopic effects; assumption of structural isotropy; restriction to one SFD; circular centred orbits (CCOs) of the SFD. • The identification and validation of the inverse dynamic model of the nonlinear SFD element, based on recurrent neural networks (RNNs) that are trained to reproduce the Cartesian displacements of the journal relative to the bearing housing, when presented with given input time histories of the Cartesian SFD bearing forces.• The empirical validation of an entirely novel approach towards the solution of a nonlinear inverse rotor-bearing problem, one involving an identified empirical inverse SFD bearing model. This method is suitable for applications where there is no adequate linear connection between rotor and casing. Both inverse solutions are formulated using the Receptance Harmonic Balance Method (RHBM) as the underpinning theory. The first inverse solution uses the RHBM to generate the backwards operator, where a linear connection is required to guarantee an explicit inverse solution. A least-squares solution yields the equivalent unbalance distribution in prescribed planes of the rotor, which is consequently used to balance it. This method is successfully validated on distinct rotordynamic systems, using simulated data considering different practical scenarios of error sources, such as noisy data, model uncertainty and balancing errors. Focus is then shifted to the second inverse solution, which is experimentally-based. In contrast to the explicit inverse solution, the second alternative uses the inverse SFD model as an implicit inverse solution. Details of the SFD test rig and its set up for empirical identification are presented. The empirical RNN training process for the inverse function of an SFD is presented and validated as a part of a nonlinear inverse problem. Finally, it is proved that the RNN could thus serve as reliable virtual instrumentation for use within an inverse rotor-bearing problem.

Dissertation thesis is focused on evaluation of influence of exposure in 5% salt fog on fatigue behavior of AZ31 and AZ61 magnesium alloy fabricated by squeeze casting method. Microstructure and mechanical properties of experimental materials have been evaluated. The AZ61 alloy was solution heat treated after prior optimization of the heat treatment process based on microstructural characteristics and mechanical properties. Depths of corrosion damage, corrosion rate and mechanism of corrosion of all three experimental alloys have been evaluated. Influence of prior corrosion exposure for 480 and 1000 hours on fatigue behavior of experimental materials was evaluated. Obtained data were compared with data obtained using smooth test specimens. Fractographic analysis was carried out on both smooth and precorroded specimens. Furthermore, influence of aluminium on corrosion and fatigue behavior of tested alloys was defined.

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