Public sector balance sheets (PSBS) provide a framework for comprehensive and deepanalysis of fiscal risks and policies. To illustrate these benefits, this paper shows how PSBSanalysis can be applied to assess risks to Indonesia's public sector stemming from its publiccorporations. The paper...

Debt restructuring procedures aim to achieve a compromise between the needs of the debtor and its creditors. It is common for business to be conducted using group structures with related parties potentially exposing themselves to broad claims upon the debtor’s insolvency, usually in a false...

This paper discusses the approach of Canadian courts in piercing the corporate veil on the basis of agency/alter ego and instrumentality principles. The paper examines the application of key several Supreme Court of Canada decisions over recent years and compares this approach with the law in...

This article discusses the implications of the High Court of Australia's decision in Sons of Gwalia Ltd vs. Margaretic. That decision found that shareholders who claimed damages for misrepresentation under statutory misleading or deceptive conduct provisions were able to claim status as...

Purchasing shares in a company is an inherently risky proposition, which leaves the investor at the mercy of the vagaries of the market. However, one of the founding principles of modern capitalism is the ability of members to limit their liability to the unpaid value of their shares. The...

The Global Financial Crisis has shone a bright light on the efficacy and scope of Australia's corporate and financial regulatory system. The past year has seen several significant changes introduced, many of which have given more power and responsibility to Australia's corporate regulator ASIC....

The regulation of company directors remains a topical issue in Australia. Concern has been raised that all too often direct liability is being imposed on company directors as a first option. Over-regulation has the potential to stifle entrepreneurial risk taking at a time of great economic...

Australia's corporate insolvency regime strives to provide flexible measures that allow stakeholders of a financially distressed company to come to a mutually beneficial arrangement. As with all insolvency laws, it is possible to bind dissenting creditors to the will of the majority in resolving...

The financial turmoil and share market losses generated by the global financial crisis have provided ideal conditions for increased numbers of investor class actions. The numbers of firms involved in litigation funding and law firms involved in class actions are also increasing. Australian...