WHEN VENTURERS DISAGREE: STRATEGIES FOR RESOLVING CONFLICT

Abstract

Disputes between joint venture participants continue to be a source of difficulty and inefficiency in the oil and gas industry. An overview is provided of the legal tools and techniques which may be helpful in minimising or resolving disputes, bearing in mind the impact of recent cases concerning fiduciary duties, the duties of nominee directors and developments in the area of alternative dispute resolution.

Consideration is given to:

Contractual techniques for minimising disputes.

The obligations of joint venture participants:

as fiduciaries; and

as directors of joint venture vehicles.

The impact of the Trade Practices Act.

Techniques for alternative dispute resolution.