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Articles 1 - 13 of 13
Full-Text Articles in Law
Libor Phaseout: Litigation Is Coming, John Michael Neubert
Libor Phaseout: Litigation Is Coming, John Michael Neubert
Michigan Business & Entrepreneurial Law Review
This paper will explore the different steps market participants should take to make sure they are prepared when LIBOR is phased out in December 2021. Part I will focus on the actions market participants should do before going into negotiations that can increase their potential to reach a consensual agreement. Part II will explore what financial firms should be prepared for during the negotiation process and what claims may arise when no agreement is reached. The decision for how to handle any LIBOR-linked financial instrument in their portfolio should be left to the discretion of market participants themselves. This paper …
Venezuela Undermines Gold Miner Crystallex's Attempts To Recover On Its Icsid Award, Sam Wesson
Venezuela Undermines Gold Miner Crystallex's Attempts To Recover On Its Icsid Award, Sam Wesson
Loyola of Los Angeles International and Comparative Law Review
No abstract provided.
Integrating Micro And Macro Policy Levers In Response To Financial Crises, Daniel A. Crane, Markus Kitzmuller, Graciela Miralles
Integrating Micro And Macro Policy Levers In Response To Financial Crises, Daniel A. Crane, Markus Kitzmuller, Graciela Miralles
Michigan Business & Entrepreneurial Law Review
The 2008–09 Global Financial Crisis originated from a poor incentive structure in the asset market derived from subprime mortgages. The ultimate bursting and unwinding of an asset bubble (here highly overvalued real estate prices woven into a complex multilayer network of securitization, so called collateralized debt obligations or CDOs) put enormous stress on the financial system, spreading through the global network economy and ultimately resulting in the worst economic crisis since the Great Depression. Economists today agree that the severe economic fallout can be largely attributed to the poor systemic performance of international financial markets. Global macroeconomic imbalances, as well …
Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova
Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova
Saule T. Omarova
The recent financial crisis brought into sharp relief fundamental questions about the social function and purpose of the financial system, including its relation to the “real” economy. This Article argues that, to answer these questions, we must recapture a distinctively American view of the proper relations among state, financial market, and development. This programmatic vision – captured in what we call a “developmental finance state” – is based on three key propositions: (1) that economic and social development is not an “end-state” but a continuing national policy priority; (2) that the modalities of finance are the most potent means of …
Burning Down The House Or Simply Rolling The Dice: A Comment On Section 621 Of The Dodd-Frank Act And Recommendation For Its Implementation, Joshua R. Rosenthal
Burning Down The House Or Simply Rolling The Dice: A Comment On Section 621 Of The Dodd-Frank Act And Recommendation For Its Implementation, Joshua R. Rosenthal
Fordham Journal of Corporate & Financial Law
Section 621 of the Dodd-Frank Wall Street Reform and Consumer Protection Act modifies the Securities Act of 1933 to prohibit the underwriter, placement agent, initial purchaser, or sponsor, or any affiliate or subsidiary of any such entity of an asset-backed financial product from betting against that very product for one year after the product’s initial sale. The rule prohibits anyone who structures or sells an asset-backed security or a product composed of asset-backed securities from going short, in the specified timeframe, on what they have sold, and labels such transactions as presenting material conflicts of interest. This Comment discusses traces …
Unclaimed Financial Assets And The Promotion Of Microfinance, Andrew W. Hartlage
Unclaimed Financial Assets And The Promotion Of Microfinance, Andrew W. Hartlage
Michigan Law Review First Impressions
State governments can effectively promote domestic entrepreneurship in low-income communities and simultaneously fulfill their duties as conservator s of unclaimed property, by lending unclai med financial assets-in-trust at preferential interest rates to in-state microfinance providers. This plan presents an alternative to charitable contributions, though it does not resolve the tension between for-profit and not-for-profit microfinance providers. Such a scheme could be a significant funding source for many microfinance operations in the United States today. Even a small portion of the yearly intake of unclaimed assets would be substantial enough to support fully most microfinance loan portfolios. Also, reinvestment of unclaimed …
In Search Of Justice: Increasing The Risk Of Business With State Sponsors Of Terror, Gabriel C. Lajeunesse
In Search Of Justice: Increasing The Risk Of Business With State Sponsors Of Terror, Gabriel C. Lajeunesse
Michigan Law Review First Impressions
If the aims of tort law are deterrence, compensation, and provision of equitable distribution of risks, U.S. anti-terrorism laws have been margin-ally effective at best. Though Congress has passed legislation providing causes of action to U.S. victims of terrorism, compensation of victims is often difficult and terrorists are rarely deterred. Attempts to provide such recourse include the Antiterrorism Act of 1991 ("ATA"), the Antiterrorism and Effective Death Penalty Act of 1996 ("AEDPA"), and the Flatow Amendment to the Foreign Sovereign Immunities Act ("FSIA"). These attempts, however, are not enough.
M&A: Survival Of The Fittest In The 21st Century, Strategic Positioning In The Banking And Communications Industries - Should A Bank Acquire, Merge, Or Divest, Maureen S. Bateman
M&A: Survival Of The Fittest In The 21st Century, Strategic Positioning In The Banking And Communications Industries - Should A Bank Acquire, Merge, Or Divest, Maureen S. Bateman
Fordham Journal of Corporate & Financial Law
No abstract provided.
Bank Entry During The Antebellum Period, Andrew J. Economopoulos, Heather M. O'Neill
Bank Entry During The Antebellum Period, Andrew J. Economopoulos, Heather M. O'Neill
Business and Economics Faculty Publications
A recent study by Kenneth Ng (1988) challenges the view that free banking laws lowered barriers to entry. The authors' study examines bank entry and capital formation in free and nonfree banking states during the free banking period. A competitive model is developed and used to test if barriers were lowered in free banking states. The evidence indicates that entry significantly increased after the enactment of the free banking laws and that entry policy in nonfree banking states appeared to have been 'liberalized' when the free banking laws were enacted in other states.
International Investment And The Prudent Investor Rule: The Trustee's Duty To Consider International Investment Vehicles, Stephen M. Penner
International Investment And The Prudent Investor Rule: The Trustee's Duty To Consider International Investment Vehicles, Stephen M. Penner
Michigan Journal of International Law
Part I of this note will begin with a background of trust and trustees, focusing on the historical development of the trust and the present role of the trustee. Part II presents the Prudent Investor Rule. The problems in trust management which lead to the necessity of the Rule will be explored, as will the evolution of the Rule up to the recent adoption by the American Law Institute of the Third Restatement of Trusts, which is devoted solely to the Prudent Investor Rule. In Part III, the various investment opportunities available to the modern investor will be presented, first …
Modern Investment Management And The Prudent Man Rule, Creighton R. Meland Jr.
Modern Investment Management And The Prudent Man Rule, Creighton R. Meland Jr.
Michigan Law Review
A Review of Modern Investment Management and the Prudent Man Rule by Bevis Longstreth
The Impact Of U.S. Control Of Foreign Assets On Refugees And Expatriates, Michael P. Malloy
The Impact Of U.S. Control Of Foreign Assets On Refugees And Expatriates, Michael P. Malloy
Michigan Journal of International Law
The U.S. Treasury Department has the responsibility of administering several emergency-related programs that affect the property of certain countries (and usually the nationals thereof) designated by its regulations, where the property, or the persons dealing with the property, are subject to the jurisdiction of the United States. These so-called "embargo controls" consist of trade sanctions (i.e., an "embargo" in the narrow sense of the term) and prohibitions on transactions involving assets in which the designated country or its nationals have any interest. These prohibitions, known collectively as a "blocking" of assets, have an impact on refugees and expatriates, …
The Significance Of Capital Surplus To The Investor, Charles E. Crouch
The Significance Of Capital Surplus To The Investor, Charles E. Crouch
Vanderbilt Law Review
The examination of the net worth section of a balance sheet reveals two major parts, namely, (1) the capital stock account and (2) the surplus account. The surplus account is the balancing account which equalizes the difference between the assets, liabilities and capitalization. In this manner the surplus account becomes a reservoir into which are poured increases in net worth and out of which are dipped decreases. Although every transaction of a business either directly or indirectly bears upon the surplus account, corporate accountants and directors have not given enough attention to the proper treatment and handling of this important …