A transatlantic case: the derivative action as a corporate governance tool
Lynch Fannon, Irene
Clarus Press on behalf of the School of Law, Trinity College, Dublin
The derivative action as a minority shareholder protection device seems to be almost a dead-letter law in the British Isles as compared with the United States. Whether it can or should be revived through legislative reform and judicial interpretation presents us with important governance questions at first instance, but also raises questions regarding the importance of law, as distinct from non-legally enforceable norms, to the development of corporate governance systems, in particular regarding the director-shareholder relationship.
Shareholder , American Depository Shares , Failure of management oversight , Accountability , Failure of shareholder action , Beneficial holder
Lynch Fannon, I. (2005) 'A transatlantic case: the derivative action as a corporate governance tool', Dublin University Law Journal, 27, pp. 1-27.
© 2005, Dublin University Law Journal, School of Law, Trinity College, Dublin.