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Title: Converting an LLC into a co-operative part 1 : background and analysis
Authors: Baldacchino, Peter J.
Borg, Joanne
Keywords: Cooperative societies
Private companies
Corporate governance
Issue Date: 2015
Publisher: MBR Publications Limited
Citation: Baldacchino, P. J., & Borg, J. (2015). Converting an LLC into a co-operative part 1: background and analysis. The Accountant, Autumn issue, 1-3.
Abstract: In certain instances, businesses may decide to convert into cooperatives, subsequent to consideration that such an alternative legal structure may be a more viable path to their entity. Nonetheless, such conversions have as yet been a rare occurrence in Malta, rendering them less prevalent and ubiquitous. This emanates from a lack of awareness and understanding, as, in theory, this route can be taken up by any business which puts its efforts towards such a conversion, although various technical elements would need to be addressed throughout the process. The objectives of this article, which builds on a 2014 MAccty dissertation, are to provide useful insights on the rationale for and the difficulties encountered in carrying out such conversions, to evaluate the corporate governance and the financial implications of such a change, and to propose a viable regulatory framework for implementing such conversions.
Description: For detailed references, please refer to authors or, for most quoted sources, to the University of Malta MAccty dissertation: The Conversion of the LLC into a Cooperative and its Implications: A Maltese Analysis, May 2014 available at the University of Malta library.
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