In France, however, insolvency procedures are more fluid and tend to favour shareholders over banks.
NAMA faces strong opposition because it is seen as favouring shareholders at taxpayers' expense.
The government seems to have erred on the side of favouring shareholders, largely to minimise the amount of capital it would have to inject into the banks.
In addition, laws do not favour shareholders, and German insurers and investment funds are far less active in demanding good performance than their British or American counterparts.While the stockmarket boom continues, these shortcomings are being overlooked.
Mr Godsell claims that Newmont's double bid favours some shareholders over others, and thus breaks Australia's stockmarket rules.AngloAmerican, the South African giant which owns more than half of AngloGold, may be reluctant to enter a protracted bidding contest.
So if the government as majority shareholder decides to favour minority shareholders, best practice becomes possible.
The chaos at Heathrow and Gatwick is further evidence that the popular corporate model ignores the customer in favour of shareholders – but could this backfire?
His timing was spectacularly bad but his thinking was essentially correct: executives who say no to growth will not win favour with shareholders, even when everyone knows the system is heading for trouble.
If it finds in Yukos's favour, the shareholders could seek enforcement in any court in Europe.Mikhail Khodorkovsky, Yukos's former owner, already serving an eight-year sentence for tax evasion, is now on trial for stealing oil as well.
Last week, the board lodged an advanced notice for a charge over Ibrox in favour of shareholder Mike Ashley's company, Sports Direct.
