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Full-Text Articles in Law
Muddy Rules For Securitization Transactions, Edward J. Janger
Muddy Rules For Securitization Transactions, Edward J. Janger
Faculty Scholarship
No abstract provided.
After Orange County: Reforming California Municipal Bankruptcy Law, Frederick Tung
After Orange County: Reforming California Municipal Bankruptcy Law, Frederick Tung
Faculty Scholarship
Because of federal constitutional concerns, a municipal entity may resort to federal bankruptcy protection only with the authorization of its state. Federal law requires that a municipality be "specifically authorized" under state law to file for bankruptcy protection. Existing California law provides fairly broad authorization for its municipalities, but the statute is in need of both technical and substantive revision. After discussing constitutional concerns and surveying other states' approaches to municipal bankruptcy authorization, Professor Tung recommends a system of discretionary access, in which the governor holds discretionary power to approve, disapprove, or condition a municipality's access to bankruptcy.
What Enron Means For The Management And Control Of The Modern Business Corporation: Some Initial Reflections, Jeffrey N. Gordon
What Enron Means For The Management And Control Of The Modern Business Corporation: Some Initial Reflections, Jeffrey N. Gordon
Faculty Scholarship
The Enron case plays on many different dimensions, but its prominence is not merely part of popular culture's obsession with scandal du jour. Rather, the Enron situation challenges some of the core beliefs and practices that have underpinned the academic analysis of corporate law and governance, including mergers and acquisitions, since the 1980s. These amount to an interlocking set of institutions that constitute "shareholder capitalism," American-style, 2001, that we have been aggressively promoting throughout the world. We have come to rely on a particular set of assumptions about the connection between stock market prices and underlying economic realities; the reliability …