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2009 - Media commentary on current issues


Ministerial Council for Corporations announcement regarding derivative liability of directors for corporate fault

  1. “Directors duties turn national”, The Australian Financial Review, 7 November 2009, page 3, interview with Professor Ian Ramsay

Lessons from the James Hardie litigation

  1. “Hardie lessons”, Company Director, November 2009, page 30, interview with Professor Ian Ramsay

Governance in schools 

  1. “Call to schools: open your books”, The Age, 26 October 2009, page 13, interview with Professor Ian Ramsay

Reform proposals regarding executive remuneration

  1. “Steam still rising over execs’ pay”, The Australian, 24 October 2009, page 26, interview with Professor Ian Ramsay

Australian government approves Chinese takeover of Felix Resources

  1. “China gets nod for Felix”, The West Australian, 24 October 2009, page 86, interview with Professor Ian Ramsay; also “Australia approves Chinese takeover of Felix Resources”, Reuters, 23 October 2009, interview with Professor Ian Ramsay

ASIC sues directors of Centro for breach of duty in relation to misleading financial reports 

  1. “ASIC’s Centro case rattles boards”, The Australian Financial Review, 24 October 2009, page 22, interview with Professor Ian Ramsay
  2. “Minor changes, major consequences”, The Australian, 24 October 2009, page 32, interview with Professor Ian Ramsay 
  3. “Centro auditor may be next in line after ASIC’s move against directors”, The Age, Business section, 23 October 2009, page 1, interview with Professor Ian Ramsay; "Executives face big fines in ASIC suit", The Sydney Morning Herald, Business section, 23 October 2009, page 5, interview with Professor Ian Ramsay 
  4. “Directors on notice as ASIC files case”, The Australian, 22 October 2009, page 1, interview with Professor Ian Ramsay 
  5. “Regulator sues former Centro board over accounts”, The Australian Financial Review, 22 October 2009, page 53, interview with Professor Ian Ramsay
  6. “Case strikes terror in hearts of those responsible”, The Australian Financial Review, 22 October 2009, page 52, interview with Professor Ian Ramsay

Independence of financial intermediaries

  1. “Gatekeeper neutrality is vital”, The Australian Financial Review, 13 October 2009, page 6, interview with Professor Ian Ramsay

Government issues draft regulations on short selling disclosure

  1. “Short-selling rules a long time coming”, The Australian, 5 October 2009, page 22, interview with Professor Ian Ramsay
  2. “Regulating share sale welcomed”, The Herald Sun, 3 October 2009, page 76, interview with Professor Ian Ramsay

Increases in executive remuneration at companies with falling share prices

  1. “Execs win rises as share prices fall”, The West Australian, 3 October 2009, page 16, interview with Professor Ian Ramsay  

Anti-money laundering legislation and legal professional privilege

  1. “Invoking privilege on money laundering”, The Australian, 2 October 2009, page 23, interview with Associate Professor Christine Parker

Company executives hedging their share based incentive payments

  1. “Good as gold”, The Sydney Morning Herald, 26 September 2009, Business section, page 1, interview with Professor Ian Ramsay; also “The hedging option: insurance or infidelity”, The Age, Business section, page 6, interview with Professor Ian Ramsay

Advantages of studying for a masters degree in law

  1. “Mastering the law”, Lawyers Weekly, 25 September 2009, page 18, interview with Professor Ian Ramsay

Division in the board of directors of Fairfax Media

  1. “Fairfax board urged to move quickly to a resolution”, The Australian Financial Review, 19 September 2009, page 11, interview with Professor Ian Ramsay 

Proposed enhanced powers for the Australian Securities and Investments Commission

  1. “ASIC plans call for ‘super-regulator’”, The Sydney Morning Herald, 16 September 2009, Business section, page 19, interview with Professor Ian Ramsay

Regulation in Australia and the global financial crisis

  1. “Walking the regulatory tightrope”, Voice, 14 September 2009, page 1, interview with Professor Ian Ramsay

Boards of directors and external advisors 

  1. “Some advice about advisers”, Company Director, September 2009, page 23, interview with Professor Ian Ramsay   

Ernst & Young settles Sons of Gwalia litigation for $125 million

  1. “Auditors on alert as E&Y agrees to $125m payout”, The West Australian, 5 September 2009, page 69, interview with Professor Ian Ramsay

Bankruptcy in Australia – the law and the evidence

  1. ABC Radio National, The Australia Talks Program, 31 August 2009, interview with Professor Ian Ramsay

Government proposes changes to the Bankruptcy Act

  1. ABC TV, The 7pm News (Sydney, Melbourne, Canberra, Perth, Adelaide, Hobart and Darwin), 25 August 2009, interview with Professor Ian Ramsay

Government announcement that supervision of trading on financial markets, including ASX, will be shifted from the market operators to ASIC

  1. ABC TV2, The News Breakfast Program, 25 August 2009, interview with Professor Ian Ramsay
  2. “Power to ASIC”, The Herald Sun, 25 August 2009, page 29, interview with Professor Ian Ramsay
  3. “ASIC to regulate market”, The Courier Mail, 25 August 2009, page 28, interview with Professor Ian Ramsay
  4. “ASIC set to control all ASX trade”, The Adelaide Advertiser, 25 August 2009, page 39, interview with Professor Ian Ramsay
  5. “ASIC wins day as ASX comes to heel”, The Northern Territory News, 25 August 2009, page 25, interview with Professor Ian Ramsay
  6. ABC TV, The 7pm News (Sydney, Melbourne, Canberra, Brisbane, Perth, Adelaide, Hobart and Darwin), 25 August 2009, interview with Professor Ian Ramsay
  7. ABC TV, The Lateline Business Program, 25 August 2009, interview with Professor Ian Ramsay
  8. ABC TV, The Lateline Program, 25 August 2009, interview with Professor Ian Ramsay
  9. AAP, “Corporate law enforcer to take on market supervisory role”, 24 August 2009, interview with Professor Ian Ramsay
  10. ABC Radio National, The PM Program, 24 August 2009, interview with Professor Ian Ramsay
  11. ABC Radio National, The World at Noon Program, 24 August 2009, interview with Professor Ian Ramsay
  12. ABC TV, The Midday Report Program, 24 August 2009, interview with Professor Ian Ramsay
  13. ABC Radio 702 (Sydney); ABC Radio 891 (Adelaide); ABC Radio 720 (Perth), various news programs, 24 August 2009, interview with Professor Ian Ramsay

Penalties imposed on former James Hardie directors and executives for breach of their duties 

  1. ABC News Radio, Various News Programs, 21 August, 2009, interview with Professor Ian Ramsay
  2. ABC TV2, The News Breakfast Program, 21 August, 2009, interview with Professor Ian Ramsay
  3. “Fines and bans for Hardie directors”, The Australian Financial Review, 21 August 2009, page 6, interview with Professor Ian Ramsay
  4. ABC Radio National, The PM Program, 20 August 2009, interview with Professor Ian Ramsay
  5. ABC TV, The Midday Report Program, 20 August 2009, interview with Professor Ian Ramsay

Regulation of insider trading

  1. “The inside story”, The Australian Financial Review, 15 August 2009, page 29, interview with Professor Ian Ramsay  

Commissions for financial planners

  1. “Financial planners escape again”, The Australian Financial Review, 1 August 2009, page 25, interview with Professor Ian Ramsay

Banks, the financial crisis and competition

  1. “Anti-trust the system”, Insto - Australian Financial Markets Magazine, June/July 2009, interview with Professor Ian Ramsay 

Corporations and Markets Advisory Committee report on market integrity

  1. SKY TV, The Business Report Program, 31 July 2009, interview with Professor Ian Ramsay

Proposed law reform regarding access to share registers 

  1. “Charity stops at home for business”, The Sydney Morning Herald, 31 July 2009, Business section, page 3, interview with Professor Ian Ramsay; also “Charities home in on share registers”, The Age, 31 July 2009, Business section, page 3, interview with Professor Ian Ramsay

Penalty hearing in the James Hardie litigation 

  1. Radio 2GB (Sydney), The Business Program, 27 July 2009, interview with Professor Ian Ramsay
  2. “Referees to stand up for Hardie team”, The Australian Financial Review, 25 July 2009, page 5, interview with Professor Ian Ramsay

Costs associated with new business regulation 

  1. “Business counts cost of new laws”, The Australian Financial Review, 24 July 2009, page 10, interview with Professor Ian Ramsay

Legal risks associated with doing business overseas

  1. “It’s risky business overseas”, The Herald Sun, 21 July 2009, page 25, interview with Professor Ian Ramsay; also “Aussies warned of overseas risks”, The Courier Mail, 21 July 2009, page 54, interview with Professor Ian Ramsay

Increasing debt of Australian households and its consequences

  1. “The debt trap”, The Sunday Age, 19 July 2009, page 11, interview with Professor Ian Ramsay

Issue arising from the toll road builder Brisconnections events

  1. “Blood on the tracks”, Business Review Weekly, 16 July 2009, page 26, interview with Professor Ian Ramsay

Cross-claim by PricewaterhouseCoopers in the Centro Properties litigation

  1. “Auditor fights back with counter-attack”, The Australian Financial Review, 15 July 2009, page 56, interview with Professor Ian Ramsay

Executive remuneration in US financial firms

  1. “Back on board the gravy train”, The Herald Sun, 11 July 2009, page 75, interview with Professor Ian Ramsay

Arrest of Rio Tinto executive in China

  1. “Arrest bends the rules”, The Herald Sun, 11 July 2009, page 32, interview with Professor Ian Ramsay
  2. “Red alert sounds on Rio spy claims”, The Herald Sun, 10 July 2009, page 41,  interview with Professor Ian Ramsay

Corporate crime in Australia and the US 

  1.  “Quick justice”, The Sydney Morning Herald, 4 July 2009, Business section, page 7,  interview with Professor Ian Ramsay; also “Going soft and slow on big   failures”, The Age, 6 July 2009, Business section, interview with Professor Ian  Ramsay

ANZ Bank and its problems with securities lending 

  1.  ABC Radio National, The World Today Program, 26 June 2009, interview with Professor Ian Ramsay 

James Hardie Industries announces plan to move from the Netherlands to Ireland

  1. SKY TV, The Business Report Program, 24 June 2009, interview with Professor Ian Ramsay
  2. Radio 2GB (Sydney), The Business Program, 24 June 2009, interview with Professor Ian Ramsay

ASX survey shows smaller proportion of the population owning shares of listed companies 

  1. “Share market turmoil drives investors away”, The Age online, 23 June 2009, interview with Professor Ian Ramsay

Australian Conservation Foundation complaint to the ACCC regarding corporate disclosures about the proposed emission trading regime

  1. “Company boards feel rising heat of climate change litigation”, The Age, 20 June 2009, Business section, page 2, interview with Professor Ian Ramsay; also “Climate changes for directors”, The Sydney Morning Herald, 20 June 2009, Business section, page 6, interview with Professor Ian Ramsay

Changes to the Victorian Supreme Court to improve resolution of commercial disputes

  1. “State ups ante for court crown”, The Australian Financial Review, 19 June 2009, page 44, interview with Professor Ian Ramsay

Commonwealth Bank acknowledges wrongdoing in relation to Storm Financial

  1. ABC TV, The Lateline Business Program, 18 June 2009, interview with Professor Ian Ramsay; also ABC2 TV, The Business Today Program, 19 June 2009, interview with Professor Ian Ramsay

The global financial crisis and challenges for directors

  1. “Directors under fire”, Business Review Weekly, 18 June 2009, page 45, interview with Professor Ian Ramsay

Proposed reform of the Bankruptcy Act

  1. “Bankruptcy move found wanting”, The Australian Financial Review, 15 June 2009, page 52, interview with Professor Ian Ramsay

Investor protection in managed investment schemes

  1. “Cracks in Timbercorp shine light on MIS investor protection”, The Age, 8 June 2009, Business section, page 1, interview with Professor Ian Ramsay; also “Timbercorp collapse turns focus on oversight of agribusiness plans”, The Sydney Morning Herald, 8 June 2009, page 23, interview with Professor Ian Ramsay

Regulation of short selling

  1. SKY TV, The Sunday Business Week Program, 31 May 2009, interview with Professor Ian Ramsay

Proposed changes to the taxation arrangements for employee share ownership plans

  1. “Upfront shares tax a step back”, The Australian, 27 May 2009, page 4, interview with Professor Ian Ramsay

ASIC lifts ban on short selling of financial stocks

  1. SKY TV, The Business Report Program, 25 May 2009, interview with Professor Ian Ramsay

Efforts to save biotech company Ventracor

  1. ABC TV, The Inside Business Program, 24 May 2009, interview with Professor Ian Ramsay

Problems caused by partly paid shares for retail investors

  1. “Call for ban”, The Age, Business section, 20 May 2009, page 4, interview with Associate Professor Cally Jordan

Government releases draft legislation on termination payments for directors and senior executives

  1. ABC Radio 774 (Melbourne) and ABC Radio 936 (Hobart), various news programs, 5 May 2009, interview with Professor Ian Ramsay

Telstra found to breach access agreement with Optus by misusing confidential information

  1. “Broadband details emerge”, The Herald Sun, 2 May 2009, page 80, interview with Professor Ian Ramsay

Commonwealth Bank capital raising and questions about the Bank’s disclosure of loan impairments

  1. “CBA may be the death knell for a soft sounding “, The Australian Financial Review, 29 April 2009, Investment Banking supplement, page S10, interview with Professor Ian Ramsay 

Increasing mortgage foreclosures

  1. “More lose homes as job losses bite”, The Age, 28 April 2009, page 6, interview with Professor Ian Ramsay 

Challenges for investors in stapled securities such as Brisconnections

  1. "Disconnected: A road to ruin",The Sunday Age, 26 April 2009, Investor section, page 12, interview with Professor Ian Ramsay

James Hardie directors found to have breached their duties

  1. “Directors on notice”, The Herald Sun, 25 April 2009, page 83, interview with John Howe; also “Hardie case a ‘wake-up call’”, The Courier Mail, 25 April 2009, page 71, interview with John Howe

Commonwealth government review of directors’ liability laws

  1. “States urged to follow suit with audit”, The Australian Financial Review, 21 April 2009, page 10, interview with Professor Ian Ramsay 

Legal action against banks

  1. Channel 7 TV, The Today Tonight Program, 20 April 2009, interview with Professor Ian Ramsay

Capital raisings by Australian companies

  1. “The capital club”, The Sydney Morning Herald, 18 April 2009, Business section, page 4, interview with Professor Ian Ramsay; also “Rising power of the those in the club”, The Age, 18 April 2009, Business section, page 4, interview with Professor Ian Ramsay

Privatisations and the rights of investors

  1. “Telstra story spells out the risks”, The Australian Financial Review, 14 April 2009, page 16, interview with Professor Ian Ramsay

Class action against the banks for not passing on interest rate cuts

  1. Channel 7 TV, The Today Tonight Program, 13 April 2009, interview with Professor Ian Ramsay

Debate on executive remuneration

  1. ABC Radio 774 (Melbourne), The Saturday Morning Program, 11 April 2009, interview with Professor Ian Ramsay

G20 leaders’ statement on tax havens

  1. ABC Radio Australia, The Pacific Beat Program, 6 April 2009, interview with Professor Ramsay
  2. ABC Radio National, The AM Program, 4 April 2009, interview with Professor Ian Ramsay

Changes to the Financial Stability Forum

  1. “Financial watchdog gets longer teeth”, The Age, 4 April 2009, Business section, page 2, interview with Professor Ian Ramsay

G20 leaders’ statement regarding financial regulation and executive remuneration

  1. ABC TV, The 7pm News (Sydney, Melbourne, Canberra, Brisbane, Adelaide, Perth and Hobart), 3 April 2009, interview with Professor Ian Ramsay

Centre for Corporate Law Research Report on personal insolvency trends in Australia

  1. “Bankruptcies up 260% in two decades”, Mortgage Business, April 2009, page 6
  2. "Insolvency and bankrupcy boom will continue into 2010", Australasian Legal Business, Vol 7 No 4, April 2009, page 17 
  3. “Insolvency surge just tip of the iceberg”, The Australian Financial Review, 6 April 2009, page 3
  4. “Personal insolvency on the rise”, Lawyers Weekly, 3 April 2009, page 4
  5. “Going to the wall for $2K”, The Northern Territory News, 30 March 2009, page 28
  6. “Be prepared – it pays”, The Sun Herald, Investor section, 29 March 2009, page 4; also in the Sunday Age, Investor section, 29 March 2009, page 4
  7. “Consumers juggle bills as banks send in the debt collectors”, The Sunday Age, 29 March 2009, page 22
  8. Radio 2UE (Sydney), The Weekend Program, 28 March 2009, interview with Professor Ian Ramsay
  9. Radio 3AW (Melbourne), The News Program, 28 March 2009
  10. “Bankruptcies rising”, The Canberra Times, 28 March 2009, page 2
  11. “Hard Times hit middle income tier”, The Daily Telegraph, 28 March 2009, page 117
  12. “Going bust for peanuts”, The Hobart Mercury, 28 March 2009, page 37
  13. “Bankruptcy rates up for small debt”, Sky News online, 28 March 2009
  14. “Middle-income bankrupts up”, The Border Mail, 28 March 2009, page 73
  15. “Bankruptcy rates on rise due to credit”, The Sunraysia Daily, 28 March 2009, page 23
  16. “Credit crunch goes up-market”, The Australian online – Smart Investor Blog, 27 March 2009
  17. “Bankruptcies rates sour over small debt”, AAP, 27 March 2009, interview with Professor Ian Ramsay
  18. ABC Radio National, The Life Matters Program, 26 March 2009, interview with Professor Ian Ramsay
  19. ABC Radio 1233 (Newcastle), The Midday Program, 26 March 2009, interview with Professor Ian Ramsay
  20. ABC Radio 666 (Canberra), The Drive Program, 25 March 2009, interview with Professor Ian Ramsay
  21. ABC News Radio, The Morning Program, 25 March 2009, interview with Professor Ian Ramsay
  22. Radio 2SM (Sydney), News Program, 25 March 2009, interview with Professor Ian Ramsay
  23. “Surge in personal insolvencies before credit crisis”, The Australian, 25 March 2009, page 5, interview with Professor Ian Ramsay
  24. “More, and richer, people filing for bankruptcy” The Age, 25 March 2009, page 10, interview with Professor Ian Ramsay
  25. “Surge in bankruptcies as credit dries up for those living in the red”, The Age, 25 March 2009, Business section, page 3
  26. “Big earners suffer as bankruptcy snowballs”, The Sydney Morning Herald, 25 March 2009, page 5, interview with Professor Ian Ramsay
  27. “Maxed-out credit cards and nowhere to run”, The Sydney Morning Herald, 25 March 2009, page 23
  28. “Debt levels swell as credit crisis deepens”, The Canberra Times, 25 March 2009, page 2, interview with Professor Ian Ramsay
  29. “Credit the big bust driver”, The Herald Sun, 25 March 2009, page 35, interview with Professor Ian Ramsay
  30. “Insolvency becomes a middle class malaise”, The Courier Mail, 25 March 2009, page 11, interview with Professor Ian Ramsay
  31. ABC Radio 702 (Sydney); ABC Radio 891 (Adelaide); ABC Radio 936 (Hobart), various news programs, 24 March 2009, interview with Professor Ian Ramsay
  32. ABC News Radio, various news programs, 24 March 2009, interview with Professor Ian Ramsay
  33. ABC Radio 774 (Melbourne), The Drive Program, 24 March 2009, interview with Professor Ian Ramsay
  34. “Insolvencies a growing middle class problem”, The Australian online, 24 March 2009, interview with Professor Ian Ramsay
  35. “Bankruptcy rates rise for middle class”, Sydney Morning Herald online, 24 March 2009, interview with Professor Ian Ramsay; also The Age online, 24 March 2009
  36. “Insolvency rates jump almost three-fold since 1990”, Business Spectator, 24 March 2009, interview with Professor Ian Ramsay
  37. “Surge in personal bankruptcies”, Smart Company, 24 March 2009, interview with Professor Ian Ramsay

  38. “More personal insolvency across high incomes”, Lawyers Weekly online, 24 March 2009, interview with Professor Ian Ramsay

ASIC bans broker for spreading misleading information

  1. ABC Radio National, The PM Program, 23 March 2009, interview with Professor Ian Ramsay

Government to restrict termination payments for executives

  1. “Swan to curb ‘obscene’ salaries”, The Sydney Morning Herald online, 18 March 2009, interview with Professor Ian Ramsay; also The Age online, 18 March 2009 

Recession highlights growing financial fraud

  1. ABC Radio National, The AM Program, 14 March 2009, interview with Professor Ian Ramsay

Administrator appointed to Babcock & Brown

  1. “Bondholders seize Babcock & Brown, eye key assets”, Reuters, 13 March 2009, interview with Professor Ian Ramsay
     

ASIC extends ban on short selling of shares of financial companies 

  1. “Sold short”, The Sydney Morning Herald, 7 March 2009, Business section, page 4, interview with Professor Ian Ramsay; also “Ban stays as world view is sold short”, The Age, Business section, page 4, interview with Professor Ian Ramsay  

Debate over short selling of securities

  1. ABC Radio National, The World Today Program, 3 March 2009, interview with Professor Ian Ramsay

Debate over executive remuneration

  1. Radio 2UE, The Afternoon Program, 2 March 2009, interview with Professor Ian Ramsay
  2. “Don’t meddle with our pay: bosses tell MPs”, The Sydney Morning Herald, 2 March 2009, page 1, interview with Professor Ian Ramsay 

Problems for toll road builder Brisconnections and its investors as investors are required to pay further amounts on their securities

  1. “Heading towards a pile-up on the road”, The Australian Financial Review, 7 March 2009, page 13, interview with Professor Ian Ramsay  
  2. ABC Radio National, The National Interest Program, 27 February 2009, interview with Professor Ian Ramsay   

UBS to pay US$780 million over US tax charges 

  1.  ABC Radio National, The World Today Program, 20 February 2009, interview with Professor Ian Ramsay

Requisition to hold meeting to wind up toll road builder Brisconnections

  1. “Toll road joy rider in the hole for $96m”, The Australian Financial Review, 18 February 2009, page 20, interview with Professor Ian Ramsay

Debate about increased regulation as a response to the global financial crisis

  1. “Investors demand executive pay controls”, The Australian Financial Review, 17 February 2009, page 11, interview with Professor Ian Ramsay

Bonuses to executives of financial institutions and government support of these institutions

  1. ABC Radio National, The PM Program, 30 January 2009, interview with Professor Ian Ramsay

Increased regulation of margin lending

  1. “ASIC beefed up to crack down on margin loans”, The West Australian, 19 January 2009, page 31, interview with Professor Ian Ramsay

Collapse of ABC Learning

  1. “Lessons to be learnt from ABC Learning’s collapse”, The Sydney Morning Herald, 2 January 2009, page 24, interview with Professor Ian Ramsay

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


  
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Date Created: 16 November 2009
Last Modified: 16 November 2009
Authorised By: Professor Ian Ramsay, Director CCLSR.
Maintainer: Administrator, CCLSR.
Email: cclsr@law.unimelb.edu.au.