The legacy of Bob Baxt AO

28 August 2023

Monash Law's Centre for Commercial Law and Regulatory Studies (CLARS) seeks to continue Bob Baxt’s vision and goals.

CLARS is closely associated with the legacy of Bob Baxt AO. Bob Baxt was not only Dean of Monash Law but also head of the former Trade Practices Commission and a Partner, at different times, of two major international commercial law firms, Allens and Herbert Smith Freehills. Bob Baxt was always excited by new ideas and he contributed to many fields of commercial law and regulation, including corporate law, competition and consumer law, taxation law and other related areas of law relevant to business regulatory policy, and practice. Most importantly, however, Bob was a ‘people person’. He nurtured talented young lawyers and academics and promoted diversity. He also brought together leading international and Australian scholars, practitioners, judges and regulators to discuss exciting developments in corporate/commercial law and regulation.

The 2022 Annual Bob Baxt AO address in Corporate and Commercial Law

Professor Viktor MayerSchönberger, University of Oxford, on Policy Options to Control the Data Barons

CLARS held the second Bob Baxt AO address in Corporate and Commercial Law in October 2022, in conjunction with the Monash Data Futures Institute. The 2022 address was delivered by Professor Viktor Mayer-Schönberger, who is Professor of Internet Governance and Regulation at Oxford. The topic of Professor Mayer-Schönberger’s address was Access Rules – What To Do About
Data Barons. Introductory remarks were provided by Rebecca Maslen-Stannage, Chair and Senior Partner, Herbert Smith Freehills.
Professor Mayer-Schönberger’s address examined the growing problem whereby a small number of digital superstars effectively capture the market.

How should policy makers respond? A variety of possible solutions have been suggested, from expanding the scope for antitrust and competition law to imposing new taxes that target digital superstars. In his address, Professor Mayer-Schönberger cast
doubt on the efficacy of these suggested policies. He argued that, to control the problem successfully, we need to get to its root cause, which is access to data. He outlined a novel data access regime and how it might work to control the data barons. The 2022 Bob Baxt AO address in Corporate and Commercial Law was followed by a small private dinner, which included members and
friends of the Baxt family. CLARS is grateful to Joanna Batstone and Monash Data Futures Institute (MDFI) for supporting this event, and to Richard Spurio and Allens for generously hosting the 2022 post-Baxt AO address dinner.

The 2021 Annual Bob Baxt AO address in Corporate and Commercial Law

Professor John C. Coffee, Columbia Law School, on ‘Systemic Risk’ Shareholder Activism

CLARS held the first Bob Baxt AO address in Corporate and Commercial Law in October 2021. The inaugural address was presented by Professor John C. Coffee, Jr., who is the Adolf A. Berle Professor of Law at Columbia Law School. Professor Coffee spoke on the topic, The Coming Shift in Shareholder Activism: From Firm-Specific to ‘Systematic Risk’ Proxy Campaigns (and How
to Enable Them). Professor The Honourable Marilyn Warren AC QC, former Chief Justice of The Supreme Court of Victoria, provided introductory comments.

Professor Coffee’s address explored burgeoning developments concerning systemic risk activism, in which an activist may put pressure on particular companies to reduce systemic risks, such as carbon emissions or risks associated with climate change, in a way that benefits other companies in the activist shareholder’s portfolio.