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Is Unlimited Liability Really Unattainable: Of Long Arms And Short Sales, Mark R. Patterson
Is Unlimited Liability Really Unattainable: Of Long Arms And Short Sales, Mark R. Patterson
Faculty Scholarship
Unlimited shareholder liability would radically change the way we look at corporations. In an unlimited-liability world, one part at least of the veil between corporation and shareholder would no longer exist. As a result, the relationship between corporation and shareholder would be, both in law and in fact,much closer than it is currently. The two parts of this change-the legal and the factual-would reinforce each other. The legal change would be reflected in court decisions enforcing unlimited liability Regardless of the exact contours that decisions in this area took initially, there would be at least some shareholders-mutual funds, for example--whom …
The Privatizing Of Public Wealth, Kary L. Moss, Esq.
The Privatizing Of Public Wealth, Kary L. Moss, Esq.
Fordham Urban Law Journal
This Article examines the emergence of the problem of corporate welfare, and identifies and discusses various legal solutions. It identifies state and local governments, in conjunction with unions, workers and community organizations, as the appropriate actors to reform a system which has become an abuse of public trust and the general welfare. Part I of this Article examines the emergence of the tax abuse phenomenon and documents its impact on local economies in this country. Part II discusses the legal scheme which frames the various legal strategies that have been employed by communities to challenge subsidy arrangements. Part III identifies …