How Popular are Statutory Derivative Actions in Australia? Comparisons with United States, Canada and New Zealand

Australian Business Law Review, Vol. 30, pp. 118-137, 2002

20 Pages Posted: 23 Mar 2012 Last revised: 14 Oct 2015

Abstract

On 13 March 2000, the statutory derivation action was introduced into Australia, effectively abolishing the rule in Foss v. Harbottle. This article examines in detail the derivative actions in the United States, Canada, New Zealand and Australia. The article also provides a discussion as to why statutory derivative actions in Australia will not be popular, drawing analysis from the Canadian and the New Zealand experiences. The author suggests that for derivative actions to be widely used, it may be necessary to adopt the United States approach on litigation costs.

Keywords: Statutory Derivative Actions, Litigation Costs, Comparative perspective

JEL Classification: K41

Suggested Citation

Thai, Lang, How Popular are Statutory Derivative Actions in Australia? Comparisons with United States, Canada and New Zealand. Australian Business Law Review, Vol. 30, pp. 118-137, 2002, Available at SSRN: https://ssrn.com/abstract=2027737

Lang Thai (Contact Author)

University of Lincoln

Lincoln Law School
Lincoln, LN6 7TS
United Kingdom

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
786
Abstract Views
2,636
Rank
57,524
PlumX Metrics