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Holding Company Liability for the Debts of an Insolvent Subsidiary: A Law and Economics Perspective

Ian Ramsay
University of Melbourne - Law School

University of New South Wales Law Journal, Vol. 17, No. 2, 1994

Abstract:
This article analyses when a holding company should be liable for the debts of its insolvent subsidiary using a law and economics perspective. The article (1) considers whether creditors warrant protection by the legislature or the courts or whether they should be expected to contract to protect themselves; (2) surveys the different approaches adopted in several countries to the issue of holding company liability for the debts of an insolvent subsidiary; and (3) analyses a provision of the Australian Corporations Act that imposes liability on holding companies and identifies some limitations of this provision.

Accepted Paper Series

Date posted: August 08, 2006 ; Last revised: August 08, 2006

Suggested Citation

Ramsay, Ian, Holding Company Liability for the Debts of an Insolvent Subsidiary: A Law and Economics Perspective. University of New South Wales Law Journal, Vol. 17, No. 2, 1994. Available at SSRN: http://ssrn.com/abstract=922636

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Contact Information

Ian Ramsay (Contact Author)

University of Melbourne - Law School ( email )

Victoria 3010 Australia
+61 3 8344 5332 (Phone)
+61 3 8344 5285 (Fax)