Litigation by Shareholders and Directors: An Empirical Study of the Statutory Derivative Action

47 Pages Posted: 14 Jul 2006

See all articles by Ian Ramsay

Ian Ramsay

Melbourne Law School - University of Melbourne

Benjamin Saunders

Deakin University, Geelong, Australia - Deakin Law School

Date Written: 2006

Abstract

A statutory derivative action has been proposed for the United Kingdom and is contained in Part 11 of the Company Law Reform Bill. Australia has had a statutory derivative action for approximately 6 years. This paper outlines the results of the first empirical study of the Australian statutory derivative action. The study provides insights into the way Australian courts have interpreted and applied this legal remedy. Issues discussed in the paper include the role of shareholder litigation in corporate governance and the purposes of the statutory derivative action.

Keywords: derivative action, shareholder litigation, corporate governance

JEL Classification: K22

Suggested Citation

Ramsay, Ian and Saunders, Benjamin, Litigation by Shareholders and Directors: An Empirical Study of the Statutory Derivative Action (2006). U of Melbourne Legal Studies Research Paper No. 250. Available at SSRN: https://ssrn.com/abstract=914465 or http://dx.doi.org/10.2139/ssrn.914465

Ian Ramsay (Contact Author)

Melbourne Law School - University of Melbourne ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia
+61 3 8344 5332 (Phone)

HOME PAGE: http://law.unimelb.edu.au/about/staff/ian-ramsay

Benjamin Saunders

Deakin University, Geelong, Australia - Deakin Law School ( email )

221 Burwood Highway
Burwood
Burwood, Victoria 3125, Victoria 3125
Australia

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