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Article Type Id: acf69104-c8dc-df11-abd8-00145e301892

This special issue on company law features articles on: (a) whether Singapore should adopt a statutory codification of the common law business judgment rule as adopted by Australia, Malaysia, South Africa, and several US states; (b) the scope of the no conflict duty as it applies to company directors in the light of the bright-line statutory formulation of the duty adopted in the UK Companies Act 2006; (c) whether the business judgment rule can be transplanted into jurisdictions, the consequences and in particular the relationship with insolvent trading; (d) the conceptual questions behind two recent UK cases (Stone & Rolls Ltd v Moore Stephens [2009] 1 AC 1391 and Safeway Stores Ltd v Twigger [2010] EWCA Civ 1472) which exposes a fundamental misconception about the structure of companies and the place of the board in the company; (e) the major reforms recommended by the Steering Committee for Review of the Companies Act to streamline the Singapore Companies Act; (f) when directors are jointly liable for the tortious acts of their companies and how an appropriate balance may be achieved; (g) the current approaches to discerning the substance-procedure divide and the necessity to inquire into legislative intent and the parties’ intentions to meaningfully negotiate the difference; (h) the application of the no reflective loss principle and the allowance of recovery only if the shareholder’s right is one that is separate and independent of the company’s; (i) the expropriation of minority shareholders in family-owned firms and evaluation of the governance strategies used by the Singapore Exchange’s Listing Rules to police self-dealing transactions; and (j) the possibility of reform of Singapore’s international insolvency law by repealing s 377(3)(c) (Companies Act) and enacting the UNCITRAL Model Law on Cross-Border Insolvency.


Author(s)/Editor(s)/Contributor(s): Professor John H Farrar (guest editor)


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