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论文作者:留学生论文论文属性:案例分析 Case Study登出时间:2011-01-04编辑:anterran点击率:13247
论文字数:6452论文编号:org201101041434306595语种:英语 English地区:中国价格:免费论文
关键词:analysisthe new derivative actionCompanies Act 2006new legislation seekscompany law
An Overview of Derivative Action in UK
1. The regulation of derivative litigation
YOU DON’T REALLY BEGIN BY JUST SKETCHING OUT THE MAIN RULES THAT GOVERNED THE DA AT COMMON LAW – IT MIGHT BE BETTER TO DO THIS AND THEN GO ON TO LIST THE MAIN CRITICISMS OF THOSE RULES.
ALSO, YOU DISCUSS THE UNCERTAINTY OVER THE MEANING OF ‘WRONGDOER CONTROL’ BUT YOU DON’T DISCUSS THE UNCERTAINTY OVER THE MEANING OF ‘FRAUD’ – THIS WAS ONE OF THE MAIN COMPLAINTS OF THE OLD LAW – THAT TO BRING A DA YOU HAD TO SHOW BOTH WRONGDOER CONTROL AND FRAUD – BUT IT WASN’T CLEAR JUST WHAT SORT OF MISBEHAVIOUR/BREACH OF DUTY BY DIRECTORS ACTUALLY AMOUNTED TO ‘FRAUD’. AND THIS IS ONE OF THE MAJOR CHANGES IN THE NEW ACT – THE STATUTORY DERIVATIVE ACTION CAN BE BROUGHT FOR ANY BREACH OF DUTY – NOT JUST THOSE THAT PREVIOUSLY CONSTITUTED FRAUD. SO I THINK YOU NEED TO MAKE MORE OF THIS.
The common law derivative action has developed to provide a remedy for a company where the company had suffered a wrong but the wrongdoers were in control of the company. If the directors or a majority of them committed the wrong, they will prevent the company initiates any action against them in respect of that wrong. In this situation, the courts permitted one or more shareholders of the company to bring an action in order to enforce the company’s rights on the company’s behalf. Such actions are called ‘derivative actions’ because they enforce rights derived from the company.
Derivative action, this term was imported from the United States by the Court of Appeal in Wallersteiner v. Moir (No 2) (1975) The difference between this action and a representative action is that the benefits of derivative proceeding go to the company. In derivative actions, the company is obviously not the claimant, because the wrongdoers, who are in control, are preventing the company from suing. Therefore, it is obviously that this is the one true exception to the rule in Foss v. Harbottle (1843), because the company is being improperly prevented from suing.
Nevertheless, the circumstances in which a shareholder can sue to enforce the rights of the company are even more limited, actually derivative actions are extremely rare in practice. There are several reaso本论文由英语论文网提供整理,提供论文代写,英语论文代写,代写论文,代写英语论文,代写留学生论文,代写英文论文,留学生论文代写相关核心关键词搜索。