Current Law Journal Content
Washington & Lee Law School
Current Law Journal Content
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Australian Business Law Review
Volume 35, Number 6, December 2007
Sons of Gwalia Ltd v. Margaretic: Encouraging shareholder claims and the fraud on the market theory
Michael Legg and Ron Schaffer
This article examines how the decision in Sons of Gwalia v. Margaretic may affect shareholder claims. Most obviously, the ability of shareholders to access an insolvent corporation's remaining funds will provide an incentive for more shareholder claims. The number of claims is likely to increase further due to attempts to make the claiming process easier or more efficient through the use of group proceedings, such as class actions, and through the adoption of the fraud on the market theory so as to short-cut causation. Further, the insolvency regime, in requiring shareholders to prove a claim or lose it, will assist litigation funders to aggregate claims more effectively.
Policing price fixing in petroleum markets
The Australian Competition and Consumer Commission (ACCC) has had mixed results in its quest to police price fixing practices in petroleum markets. This article deals with two recent cases where the ACCC has had mixed results, particularly its failed prosecution in relation to the Geelong petrol market. The article reviews at length the evidence relied on by the ACCC in the case, and the interpretation issues at large in this litigation. It is suggested that the court has adopted an unduly narrow interpretation of the phrase "contract, arrangement or understanding", potentially making the ACCC's task in establishing an anti-competitive practice unduly difficult. It is suggested that Parliament should clarify the meaning of the phrase to make it clear there is no requirement for an obligation in order to find the practice to be unlawful.
Innovation in medical biotechnology: Mapping the intersection of intellectual property and competition law
Intellectual property and competition law are often perceived as being in conflict. This is evidenced by a lengthy struggle to identify an appropriate balance between these areas of law. While it is generally recognised that the two bodies of law are reconcilable, areas of difficulty persist. New technologies have given rise to novel challenges at the intersection of intellectual property and competition law. One industry that possesses the distinctive traits of a high technology industry is medical biotechnology. This industry is highly innovative and, increasingly, industry participants are seeking to commercialise their research results through patenting. This has resulted in an industry that relies heavily on patent protection. This article seeks to consider in broad terms the role that competition law should have in promoting innovation in medical biotechnology, and how this role should be reconciled with the function of patents in this industry.
Privacy law for the 21st century: Key aspects of the Australian Law Reform Commission review
BOOK REVIEW — Peter Lithgow
An Outline of the Law of Partnership by Graw S
VOLUME 35 - 2007
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