The aftermath of the Lehman Brothers collapse in Hong Kong : the saga, regulatory deficiencies and government responses

The paper examines the fallout of the Lehman Brothers collapse in Hong Kong. As an international financial hub in Asia, Hong Kong was profoundly affected by the collapse of this company. As a result, it impacted negatively on the public���s confidence in the Hong Kong���s banking sector. Furthermore, this event has exposed a number of regulatory deficiencies in Hong Kong. In response to this financial crisis, the Hong Kong government had made an unprecedented move to negotiate with local banks to refund the investors. In addition, the government has also sought public consultation on proposal to enhance the regulation of the sale of financial products. This paper argues that there needs to be amendments to the prevailing laws and the inclusions of legal rules to back up those proposed measures so that the disclosed information from the financial institution will not mislead the investors or misrepresent the products offered.

Stage brothers slow to resurrect a Ned Kelly myth

JUST like the man, Ned Kelly dramas have had a chequered history. A century ago they were banned from the stage and screen. Following censorship law changes, Douglas Stewart's 4 1/2-hour long 1942 radio play was a hit on the airwaves but a flop onstage. Stewart's Ned was a menacing hero/villain. Little has been seen of Ned in mainstage plays since. Matthew Ryan's Kelly breaks the drought.

The emerging framework of cross-border insolvency in and around Australia : Saad Investments, Japan Airlines and Lehman Brothers ��� part one

Recent decades have witnessed a global acceleration of legislative and private sector initiatives to deal with Cross-Border insolvency. Legislative institutions include the various national implementations of the Model Law on Cross-Border Insolvency (Model Law) published by the United Nations Commission on International Trade (UNCITRAL).3 Private mechanisms include Cross-Border protocols developed and utilised by insolvency professionals and their advisers (often with the imprimatur of the judiciary), on both general and ad hoc bases. The Asia Pacific region has not escaped the effect of those developments, and the economic turmoil of the past few years has provided an early test for some of the emerging initiatives in that region. This two-part article explores the operation of those institutions through the medium of three recent cases.

The emerging framework of cross-border insolvency in and around Australia : Saad Investments, Japan Airlines and Lehman Brothers ��� Part Two

Recent decades have witnessed a global acceleration of legislative and private sector initiatives to deal with Cross-Border insolvency. Legislative institutions include the various national implementations of the Model Law on Cross-Border Insolvency (Model Law) published by the United Nations Commission on International Trade (UNCITRAL).3 Private mechanisms include Cross-Border protocols developed and utilised by insolvency professionals and their advisers (often with the imprimatur of the judiciary), on both general and ad hoc bases. The Asia Pacific region has not escaped the effect of those developments, and the economic turmoil of the past few years has provided an early test for some of the emerging initiatives in that region. This two-part article explores the operation of those institutions through the medium of three recent cases.

Brothers in arms ��� An experiment on the alliance puzzle

The generic alliance game considers players in an alliance who fight against an external enemy. After victory, the alliance may break up, and its members may fight against each other over the spoils of the victory. Our experimental analysis of this game shows: In-group solidarity vanishes after the break-up of the alliance. Former ���brothers in arms��� fight even more vigorously against each other than strangers do. Furthermore, this vigorous internal fighting is anticipated and reduces the ability of the alliance to mobilize the joint fighting effort, compared to a situation in which victorious alliance members share the spoils of victory equally and peacefully

The light of Gairdner

The Light of Gairdner is a key work of the author's exhibition Lightsite, which toured Western Australian galleries from February 2006 to November 2007. It is a five-minute-long exposure photographic image captured inside a purpose-built, room-sized pinhole camera which is demountable and does not have a floor. The Light of Gairdner depicts two brothers Allan and Harvey Lynch during their barley harvest. Allan is standing outside the pinhole camera-room in the barley field. The light from this exterior landscape is 'projected' inside the camera-room and illuminates the interior scene which includes that part of the barley field upon which the floorless room is erected, along with Harvey who is standing inside. The image evokes the temporality of light. Here, light itself is portrayed as the primary medium through which we both perceive and describe landscape. It is through the agency of light that we construct our connectivity to landscape. The exhibition/catalogue statement. "Harvey and Allan Lynch lost their father Frank, in a crop dusting crash five years ago. They now manage their dad's 6000 acre farm and are photographed here at the time of their barley harvest."

The light of Gairdner 2

The Light of Gairdner 2 is a key work of the author's exhibition Lightsite, which toured Western Australian galleries from February 2006 to November 2007. It is a five-minute-long exposure photographic image captured inside a purpose-built, room-sized pinhole camera which is demountable and does not have a floor. The Light of Gairdner 2 depicts two brothers Allan and Harvey Lynch during their barley harvest. Allan is standing outside the pinhole camera-room in the barley field with their new 'CASE' harvester. The light from this exterior landscape is 'projected' inside the camera-room and illuminates the interior scene which includes that part of the barley field upon which the floorless room is erected, along with Harvey who is standing inside. The image evokes the temporality of light. Here, light itself is portrayed as the primary medium through which we both perceive and describe landscape. In this way it is through the agency of light that we construct our connectivity to landscape. The exhibition/catalogue statement. "Harvey and Allan Lynch lost their father Frank, in a crop dusting crash five years ago. They now manage their dad's 6000 acre farm and are photographed here at the time of their barley harvest. The Light of Gairdner 2 features their new 'CASE' harvester, and in the distance, the grain silos of Gairdner."

A new definition for today���s Chinese independent cinema

Different terminologies have been used to characterize the Chinese independent cinema in the 1990s. These definitions focus on the experimental practices outside the official production system and independent of official ideology. The film industry has had distinctive development since the entry of WTO in 2001. Private investors have played essential role in cinematic economy; strict censorship has been obviously relaxed; the film industry is being divided into two opposing extremes. Thus, it is necessary to give a new definition of the Chinese independent cinema. The definition of independent cinema in today China I suggest in the light of American independence is that any film that has not been financed, produced and distributed by majors is independent. At least four corporations are majors in the Chinese film industry. They are China Film Group Corporation, Huayi Brothers Corporation, PolyBona Film Distribution Corporation and Shanghai Film Group Corporation. Except the four majors, all the other film production or distribution companies are independents.

Dark humour invigorates familiar fables ; a review

THEATRE: Grimm Tales. By Carol Ann Duffy and Tim Supple. Queensland Theatre Company, Brisbane. November 16. QUEENSLAND Theatre Company concludes its season with Grimm Tales, Carol Ann Duffy and Tim Supple's adaptation of classic cautionary tales as set down by the Brothers Grimm in the 19th century. This programming decision is clearly designed to present fun family entertainment as Christmas approaches. In Grimm Tales, well-known stories such as Hansel and Gretel, Snow White and Rumpelstiltskin pack a little more punch than in your standard picture book. Duffy and Supple's play is by no means the sort of poetic, postmodern or politicised adaptation of the fairytale we see from writers such as Angela Carter, and it is not intended to be subversive or to question the social and gender assumptions that underpin the tales. Start of sidebar. Skip to end of sidebar. End of sidebar. Return to start of sidebar. Rather, a return to the grislier original incarnations of the tales - the wicked stepsisters who lop off parts of their feet to fit the slipper and win the prince, or the hare so confused by the hedgehog's stratagem to make him think he is losing the race, he runs himself to death - has a comic effect. In this production, directed by Michael Futcher, heightened performances from some of Brisbane's best comic and physical actors, live music and an open, acknowledged relationship with the audience establish the atmosphere for the piece. While the production is a little sombre and slow to start with the first tale, Hansel and Gretel, the knowingness and almost slapstick quality with which the cast plays out the gruesome, scatological or silly moments in the other tales are well pitched to carry the comedy. The action is supported by a fantastic set by Greg Clarke of wooden planked walls, stairs and walkways which, with the help of David Walter's lighting design, is transformed into forests, ballrooms and castles as the cast moves up, over and under it. The overall highlight is probably the cast Futcher has brought together. Established QTC actors Eugene Gilfedder, Lucas Stibbard and Scott Witt, and emerging QTC actor Melanie Zanetti, join Liz Buchanan, Dan Crestani and Emma Pursey, all well known for their independent work in Brisbane but making their mainstage debut for the QTC. Every one of them metamorphoses with ease from character to character, human to animal, and central player to support. There is nothing particularly new in Grimm Tales, and it doesn't try to do anything more (or, indeed, less) than entertain, but skilful direction and a strong cast ensure it succeeds on those terms.

Adam Smith's Dinner

The Future of Financial Regulation is an edited collection of papers presented at a major conference at the University of Glasgow in Spring 2009. It draws together a variety of different perspectives on the international financial crisis which began in August 2007 and later turned into a more widespread economic crisis following the collapse of Lehman Brothers in the Autumn of 2008. Spring 2009 was in many respects the nadir since valuations in financial markets had reached their low point and crisis management rather than regulatory reform was the main focus of attention. The conference and book were deliberately framed as an attempt to re-focus attention from the former to the latter. The first part of the book focuses on the context of the crisis, discussing the general characteristics of financial crises and the specific influences that were at work during this time. The second part focuses more specifically on regulatory techniques and practices implicated in the crisis, noting in particular an over-reliance on the capacity of regulators and financial institutions to manage risk and on the capacity of markets to self-correct. The third part focuses on the role of governance and ethics in the crisis and in particular the need for a common ethical framework to underpin governance practices and to provide greater clarity in the design of accountability mechanisms. The final part focuses on the trajectory of regulatory reform, noting the considerable potential for change as a result of the role of the state in the rescue and recuperation of the financial system and stressing the need for fundamental re-appraisal of business and regulatory models. This informative book will be of interest to financial regulators and theorists, commercial and financial law practitioners, and academics involved in the law and economics of regulation.

A matter of approval

A contract for the sale of a mixed farming property fronting the Murrumbidgee River provided the basis for a dispute that recently found its way to the High Court. The decision is Park v Brothers [2005] HCA 73. Although largely concerned with appellate court practice and procedure, the decision will also be of interest to those practising in property law and general contract law.

The social orders of family mealtime

This study examined the everyday practices of families within the context of family mealtime to investigate how members accomplished mealtime interactions. Using an ethnomethodological approach, conversation analysis and membership categorization analysis, the study investigated the interactional resources that family members used to assemble their social orders moment by moment during family mealtimes. While there is interest in mealtimes within educational policy, health research and the media, there remain few studies that provide fine-grained detail about how members produce the social activity of having a family meal. Findings from this study contribute empirical understandings about families and family mealtime. Two families with children aged 2 to 10 years were observed as they accomplished their everyday mealtime activities. Data collection took place in the family homes where family members video recorded their naturally occurring mealtimes. Each family was provided with a video camera for a one-month period and they decided which mealtimes they recorded, a method that afforded participants greater agency in the data collection process and made available to the analyst a window into the unfolding of the everyday lives of the families. A total of 14 mealtimes across the two families were recorded, capturing 347 minutes of mealtime interactions. Selected episodes from the data corpus, which includes centralised breakfast and dinnertime episodes, were transcribed using the Jeffersonian system. Three data chapters examine extended sequences of family talk at mealtimes, to show the interactional resources used by members during mealtime interactions. The first data chapter explores multiparty talk to show how the uniqueness of the occasion of having a meal influences turn design. It investigates the ways in which members accomplish two-party talk within a multiparty setting, showing how one child "tells" a funny story to accomplish the drawing together of his brothers as an audience. As well, this chapter identifies the interactional resources used by the mother to cohort her children to accomplish the choralling of grace. The second data chapter draws on sequential and categorical analysis to show how members are mapped to a locally produced membership category. The chapter shows how the mapping of members into particular categories is consequential for social order; for example, aligning members who belong to the membership category "had haircuts" and keeping out those who "did not have haircuts". Additional interactional resources such as echoing, used here to refer to the use of exactly the same words, similar prosody and physical action, and increasing physical closeness, are identified as important to the unfolding talk particularly as a way of accomplishing alignment between the grandmother and grand-daughter. The third and final data analysis chapter examines topical talk during family mealtimes. It explicates how members introduce topics of talk with an orientation to their co-participant and the way in which the take up of a topic is influenced both by the sequential environment in which it is introduced and the sensitivity of the topic. Together, these three data chapters show aspects of how family members participated in family mealtimes. The study contributes four substantive themes that emerged during the analytic process and, as such, the themes reflect what the members were observed to be doing. The first theme identified how family knowledge was relevant and consequential for initiating and sustaining interaction during mealtime with, for example, members buying into the talk of other members or being requested to help out with knowledge about a shared experience. Knowledge about members and their activities was evident with the design of questions evidencing an orientation to coparticipant���s knowledge. The second theme found how members used topic as a resource for social interaction. The third theme concerned the way in which members utilised membership categories for producing and making sense of social action. The fourth theme, evident across all episodes selected for analysis, showed how children���s competence is an ongoing interactional accomplishment as they manipulated interactional resources to manage their participation in family mealtime. The way in which children initiated interactions challenges previous understandings about children���s restricted rights as conversationalists. As well as making a theoretical contribution, the study offers methodological insight by working with families as research participants. The study shows the procedures involved as the study moved from one where the researcher undertook the decisions about what to videorecord to offering this decision making to the families, who chose when and what to videorecord of their mealtime practices. Evident also are the ways in which participants orient both to the video-camera and to the absent researcher. For the duration of the mealtime the video-camera was positioned by the adults as out of bounds to the children; however, it was offered as a "treat" to view after the mealtime was recorded. While situated within family mealtimes and reporting on the experiences of two families, this study illuminates how mealtimes are not just about food and eating; they are social. The study showed the constant and complex work of establishing and maintaining social orders and the rich array of interactional resources that members draw on during family mealtimes. The family���s interactions involved members contributing to building the social orders of family mealtime. With mealtimes occurring in institutional settings involving young children, such as long day care centres and kindergartens, the findings of this study may help educators working with young children to see the rich interactional opportunities mealtimes afford children, the interactional competence that children demonstrate during mealtimes, and the important role/s that adults may assume as co-participants in interactions with children within institutional settings.

When There's Love

This work is an installation featuring three video projections, music and mirror balls. The three projections fill the walls with scrolling text borrowed from love song lyrics. Headphones in the gallery space allow you to hear a male voice sing the same words to an impromptu tune. Mirror balls send fragments of light spinning around the room while The Righteous Brothers��� Unchained Melody plays on repeat. This work emphasizes fragmentary, repetitious and spatio-temporal experiences of language in order to question the symbolic conventions of romance. By exaggerating and mixing hackneyed symbolic elements, this work extends on some of Nicolas Bourriaud���s theoretical insights into the creative and critical strategies of ���postproduction���. In particular, it toys with the intersections between popular culture and inter-subjective experiences.

Supporting siblings of children with a rare chromosome disorder

Siblings play an important role in children���s learning and development. Interactions with brothers and sisters provide opportunities to learn about sharing and emotional reciprocity, to develop social skills, to express thoughts and feelings, and to practise resolving conflict. But for children whose brother or sister has a disability, such as a rare chromosome disorder, some of these sibling experiences may be different. Many parents worry about how their non-disabled child will be affected by the experience of living with a brother or sister with a disability, and a great deal of research has explored both the possible negative consequences and also the potential benefits for siblings. In this article, we summarise the research findings and provide suggestions for ways that parents can support the positive development and well-being of all their children.

"The Stratified Record upon Which We Set Our Feet" : The Spatial Turn and the Multilayering of History, Geography, and Geology

In Thomas Mann���s tetralogy of the 1930s and 1940s, Joseph and His Brothers, the narrator declares history is not only ���that which has happened and that which goes on happening in time,��� but it is also ���the stratified record upon which we set our feet, the ground beneath us.��� By opening up history to its spatial, geographical, and geological dimensions Mann both predicts and encapsulates the twentieth-century���s ���spatial turn,��� a critical shift that divested geography of its largely passive role as history���s ���stage��� and brought to the fore intersections between the humanities and the earth sciences. In this paper, I draw out the relationships between history, narrative, geography, and geology revealed by this spatial turn and the questions these pose for thinking about the disciplinary relationship between geography and the humanities. As Mann���s statement exemplifies, the spatial turn itself has often been captured most strikingly in fiction, and I would argue nowhere more so than in Graham Swift���s Waterland (1983) and Anne Michaels���s Fugitive Pieces (1996), both of which present space, place, and landscape as having a palpable influence on history and memory. The geographical/geological line that runs through both Waterland and Fugitive Pieces continues through Tim Robinson���s non-fictional, two-volume ���topographical��� history Stones of Aran. Robinson���s Stones of Aran���which is not history, not geography, and not literature, and yet is all three���constructs an imaginative geography that renders inseparable geography, geology, history, memory, and the act of writing.