European and Australian proposals for corporate group law: a comparative analysis

Abstract

The Forum Europaeum Konzernrecht and the Australian Companies and Securities Advisory Committee have each put forward proposals to reform their corporate group law. Both initiatives have the same fundamental goals of facilitating proper corporate group management and protecting the legitimate interests of minority shareholders and creditors of group companies. This article examines the European and Australian proposals, using the Forum Europaeum format to draw direct comparisons. It discusses key corporate group legal issues identified by the Forum Europaeum that have also arisen in Australia, and analyses the policies and procedures adopted or proposed in each continent to resolve them. This issue by issue comparison highlights the range of possible legislative responses to the same legal problems, and the benefits of drawing on the thinking and experience in both Europe and Australia in achieving the best corporate group law.