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Allocating Liability in Corporate Groups: An Australian Perspective

This is a revised version of a paper presented at the University of Connecticut. The theme of the conference was corporate groups and the conference was held in honor of Professor Philip Blumberg who is the author of the 7 volume treatise on the Law of Corporate Groups. The article is in four main parts. First, the author provides statistics on corporate groups in Australia. Second, there is discussion of reasons for the development of corporate groups. Third, the different approaches to the regulation of corporate groups in Australia are discussed. The article concludes with discussion of whether, and in what circumstances, holding (or parent) companies should be liable for the debts of insolvent subsidiaries.