The treatment of employee priority in a deed of company arrangement

This article examines one of the changes implemented in the Corporations Amendment (Insolvency) Act 2007 (Cth) . It is argued that the insertion of s 444DA raises some matters that go to the nature of the insolvency process generally and the operation of Pt 5.3A in a particular. The position of employees in insolvency is a matter that is the subject of much comment from a policy perspective. This article does not cover that debate but provides some initial explanation of the need to protect employees. The second part of the article covers the particular background to the voluntary administration system as far as employee rights are concerned as well as the arguments put forward by the government to justify the change in the legislation which inserted s 444DA . It suggests that there was little evidence provided for the need to protect employee priority rights in this particular way. An alternative explanation is given for the change adopted by the government. The third part of the article suggests that the manner in which the legislation seeks to better protect employee creditors is somewhat clumsy in its operation. It raises a number of questions about how the legislation may operate and argues that given the stated aims, some alteration to it would improve its effectiveness.

The first global entertainment company : explaining Pathe's global dominance in the pre-Hollywood film industry

For almost a decade before Hollywood existed, French firm Pathe towered over the early film industry with estimates of its share of all films sold around the world varying between 50-70%. Pathe was the first global entertainment company. This paper analyses its rise to market leadership by applying a theoretical framework drawn from the business literature on causes of industry dominance, which provides insights into how firms acquire and maintain market dominance, and in this case the film industry. This paper uses evidence presented by film historians to argue that Pathe “fits” the expected theoretical model of a dominant firm because it had a marketing orientation, used an effective quality-based competitive strategy and possessed the six critical strategic marketing capabilities that business research shows enable the best performing firms to consistently outperform rivals

A methodology to assess the competitiveness of real estate developers in China

Real estate, or property development, is considered one of the pillar industries of the Chinese economy. As a result of the opening up of the economy as well as the "macro-control" policy of the Central Chinese Government to moderate the frenetic pace of growth of the economy, the real estate industry has faced fierce competition and ongoing change. Real estate firms in China must improve their competitiveness in order to maintain market share or even survive in this brutally competitive environment. This study developed a methodology to evaluate the competitiveness of real estate developers in the China and then used a case study to illustrate the effectiveness of the evaluation method. Four steps were taken to achieve this. The first step was to conduct a thorough literature review which included a review of the characteristics of real estate industry, theories about competitiveness and the competitive characteristics of real estate developers. Following this literature review, the competitive model was developed based on seven key competitive factors (the 'level 1') identified in the literature. They include: (1) financial competency; (2) market share; (3) management competency; (4) social responsibility; (5) organisational competency; (6) technological capabilities; and, (7) regional competitiveness. In the next step of research, the competitive evaluation criteria (the 'level 2') under each of competitive factors (the 'level 1') were evaluated. Additionally, there were identified a set of competitive attributes (the 'level 3') under each competitive criteria (the 'level 2'). These attributes were initially recognised during the literature review and then expanded upon through interviews with multidisciplinary experts and practitioners in various real estate-related industries. The final step in this research was to undertake a case study using the proposed evaluation method and attributes. Through the study of an actual real estate development company, the procedures and effectiveness of the evaluation method were illustrated and validated. Through the above steps, this research investigates and develops an analytical system for determining the corporate competitiveness of real estate developers in China. The analytical system is formulated to evaluate the "state of health" of the business from different competitive perspectives. The result of empirical study illustrates that a systematic and structured evaluation can effectively assist developers in identifying their strengths and highlighting potential problems. This is very important for the development of an overall corporate strategy and supporting key strategic decisions. This study also provides some insights, analysis and suggestions for improving the competitiveness of real estate developers in China from different perspectives, including: management competency, organisational competency, technological capabilities, financial competency, market share, social responsibility and regional competitiveness. In the case study, problems were found in each of these areas, and they appear to be common in the industry. To address these problems and improve the competitiveness and effectiveness of Chinese real estate developers, a variety of suggestions are proposed. The findings of this research provide an insight into the factors that influence competitiveness in the Chinese real estate industry while also assisting practitioners to formulate strategies to improve their competitiveness. References for studying the competitiveness of real estate developers in other countries are also provided.

For blood, sweat and tears : the severing of subconscious connections with company and business model

Humans have altered environments and enhanced their well being unlike any other creature on the planet (Heilman & Donna, 2007); this is no different whether the environment is ecological, social or organisational. In recent times business modelling techniques have become intricately detailed in the pre-designing and evaluating of business flow before the final implementation (Ou-Yang & Lin, 2008). The importance of the organisation change and business process model is undeniable. The feedback received from real business process users is that the notation is easy to learn; the models do help people to understand the process better; the models can be used to improve the (business) process; and the notation is expressive enough to capture the essential information (Bennett, Doshi, Do Vale Junior, Kumar, Manikam, & Madavan, 2009).

Central Queensland Mining Supplies Pty Ltd v Columbia Steel Casting Co Ltd

In Central Queensland Mining Supplies Pty Ltd v Columbia Steel Casting Co Ltd [2011] QSC 183 Applegarth J considered complaints made by the defendant about the approach the plaintiff had taken in its endeavour to comply with its disclosure obligation under r 211 of the Uniform Civil Procedure Rules 1999 (Qld). The judgment also provides an indication of the direction the court is taking in relation to disclosure and document management in matters involving large numbers of documents.

Greener and leaner : unleashing capacity of railroad concrete ties via limit states concept

New knowledge has raised a concern about the cost-ineffective design methods and the true performance of railroad prestressed concrete ties. Because of previous knowledge deficiencies, railway civil and track engineers have been aware of the conservative design methods for structural components in any railway track that rely on allowable stresses and material strength reductions. In particular, railway sleeper (or railroad tie) is an important component of railway tracks and is commonly made of prestressed concrete. The existing code for designing such components makes use of the permissible stress design concept, whereas the fiber stresses over cross sections at initial and final stages are limited by some empirical values. It is believed that the concrete ties complying with the permissible stress concept possess unduly untapped fracture toughness, based on a number of proven experiments and field data. Collaborative research run by the Australian Cooperative Research Centre for Railway Engineering and Technologies (Rail CRC) was initiated to ascertain the reserved capacity of Australian railway prestressed concrete ties that were designed using the existing design code. The findings have led to the development of a new limit-states design concept. This paper highlights the conventional and the new limit-states design philosophies and their implication to both the railway community and the public. © 2011 American Society of Civil Engineers.

Just do it : action's central role in venture creation

This study examined the effect that venture creation action has on the outcomes of nascent entrepreneurship. A theoretical model was developed which proposes action as a fundamental mechanism in venture creation. Thus, action should rightly be considered as a means rather than an end in itself. In this respect, action transmits the effects of venture resource endowments on to venture creation outcomes. This conceptual model was empirically supported in a random sample of nascent ventures. Ventures with higher levels of human or social capital tend to be more active in venture creation. In turn, more active venture attempts are more likely to achieve improved results.

Problem-solving courts, therapeutic jurisprudence and the constitution : if two is company, is three a crowd?

Court costs, resource-intensive trials, booming prison populations and the obduracy of recidivism rates all present as ugly excesses of the criminal law adversarial paradigm. To combat these excesses, problem-solving courts have evolved with an edict to address the underlying issues that have caused an individual to commit a crime. When a judge seeks to help a problem-solving court participant deal with issues like addiction, mental health or poverty, they are performing a very different role to that of a judicial officer in the traditional court hierarchy. They are no longer the removed, independent arbiter — a problem-solving court judge steps into the ‘arena’ with the participant and makes active use of their judicial authority to assist in rehabilitation and positive behavioural change. Problem-solving court judges employing the principles of therapeutic jurisprudence appreciate that their interaction with participants can have therapeutic and anti-therapeutic consequences. This article will consider how the deployment of therapeutic measures (albeit with good intention) can lead to the behavioural manifestation of partiality and bias on the part of problem-solving court judges. Chapter III of the Commonwealth Constitution will then be analysed to highlight why the operation and functioning of problem solving courts may be deemed unconstitutional. Part IV of this article will explain how a problem-solving court judge who is not acting impartially or independently will potentially contravene the requirements of the Constitution. It will finally be suggested that judges who possess a high level of emotional intelligence will be the most successful in administering an independent and impartial problem solving court.

Limestone and speleothem trace element geochemistry as tools for palaeoclimatic reconstruction, Mount Etna region, central-coastal Queensland

This study investigated potential palaeoclimate proxies provided by rare earth element (REE) geochemistry in speleothems and in clay mineralogy of cave sediments. Speleothem and sediment samples were collected from a series of cave fill deposits that occurred with rich vertebrate fossil assemblages in and around Mount Etna National Park, Rockhampton (central coastal Queensland). The fossil deposits range from Plio- Pleistocene to Holocene in age (based on uranium/thorium dating) and appear to represent depositional environments ranging from enclosed rainforest to semi-arid grasslands. Therefore, the Mount Etna cave deposits offer the perfect opportunity to test new palaeoclimate tools as they include deposits that span a known significant climate shift on the basis of independent faunal data. The first section of this study investigates the REE distribution of the host limestone to provide baseline geochemistry for subsequent speleothem investigations. The Devonian Mount Etna Beds were found to be more complex than previous literature had documented. The studied limestone massif is overturned, highly recrystallised in parts and consists of numerous allochthonous blocks with different spatial orientations. Despite the complex geologic history of the Mount Etna Beds, Devonian seawater-like REE patterns were recovered in some parts of the limestone and baseline geochemistry was determined for the bulk limestone for comparison with speleothem REE patterns. The second part of the study focused on REE distribution in the karst system and the palaeoclimatic implications of such records. It was found that REEs have a high affinity for calcite surfaces and that REE distributions in speleothems vary between growth bands much more than along growth bands, thus providing a temporal record that may relate to environmental changes. The morphology of different speleothems (i.e., stalactites, stalagmites, and flowstones) has little bearing on REE distributions provided they are not contaminated with particulate fines. Thus, baseline knowledge developed in the study suggested that speleothems were basically comparable for assessing palaeoclimatically controlled variations in REE distributions. Speleothems from rainforest and semi-arid phases were compared and it was found that there are definable differences in REE distribution that can be attributed to climate. In particular during semiarid phases, total REE concentration decreased, LREE became more depleted, Y/Ho increased, La anomalies were more positive and Ce anomalies were more negative. This may reflect more soil development during rainforest phases and more organic particles and colloids, which are known to transport REEs, in karst waters. However, on a finer temporal scale (i.e. growth bands) within speleothems from the same climate regime, no difference was seen. It is suggested that this may be due to inadequate time for soil development changes on the time frames represented by differences in growth band density. The third part of the study was a reconnaissance investigation focused on mineralogy of clay cave sediments, illite/kaolinite ratios in particular, and the potential palaeoclimatic implications of such records. Although the sample distribution was not optimal, the preliminary results suggest that the illite/kaolinite ratio increased during cold and dry intervals, consistent with decreased chemical weathering during those times. The study provides a basic framework for future studies at differing latitudes to further constrain the parameters of the proxy. The identification of such a proxy recorded in cave sediment has broad implications as clay ratios could potentially provide a basic local climate proxy in the absence of fossil faunas and speleothem material. This study suggests that REEs distributed in speleothems may provide information about water throughput and soil formation, thus providing a potential palaeoclimate proxy. It highlights the importance of understanding the host limestone geochemistry and broadens the distribution and potential number of cave field sites as palaeoclimate information no longer relies solely on the presence of fossil faunas and or speleothems. However, additional research is required to better understand the temporal scales required for the proxies to be recognised.