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Articles 1 - 20 of 20
Full-Text Articles in Law and Economics
African Courts And International Human Rights Law, John Mukum Mbaku
African Courts And International Human Rights Law, John Mukum Mbaku
Brooklyn Journal of International Law
The UN General Assembly adopted the Universal Declaration of Human Rights in 1948 and since then, the international community, with the help of the United Nations, has adopted other international human rights instruments designed to recognize and protect human rights. Since international human rights instruments do not automatically confer rights that are justiciable in domestic courts, each African country must domesticate these instruments in order to create rights that are justiciable in its domestic courts. Given the fact that many African countries have not yet domesticated the core international human rights instruments, international human rights law’s ability to positively impact …
Is Investment Arbitration An Effective Alternative To Court Litigation? Towards A Smart Mix Of Litigation And Arbitration In Resolving Investment Disputes, Wanli Ma, Michael Faure
Is Investment Arbitration An Effective Alternative To Court Litigation? Towards A Smart Mix Of Litigation And Arbitration In Resolving Investment Disputes, Wanli Ma, Michael Faure
Brooklyn Journal of International Law
This article analyzes litigation and arbitration as commonly used methods for dispute resolution, more particularly between foreign investors and host states. It compares investor-state dispute settlement (ISDS) via investor-state arbitration with dispute resolution via domestic courts in the host state. The article adopts a goal-based approach for assessing the effectiveness of international adjudication and analyzes the extent to which the current ISDS system is aligned with its predetermined goals. The article starts by identifying four goals of ISDS: 1) fair and efficient dispute resolution, 2) norm compliance, 3) facilitating the objectives of the investment law regime, and 4) legitimizing the …
Remedies For Government Breach: Lessons From The United States And A Zone Of Appealable Remedies For Southeast Asia, Benjamin D. Black
Remedies For Government Breach: Lessons From The United States And A Zone Of Appealable Remedies For Southeast Asia, Benjamin D. Black
Brooklyn Law Review
Though international investment treaties may supplant domestic contract law in cross-border government contracts, their limited use in Southeast Asia informs the continued importance of clear remedies for a government breach of contract under domestic law. As investment from China’s Belt and Road Initiative continues to flow into the region, private parties require clear rules and remedies when a government breaches a contract. This note argues that the lack of clear and codified public contract law in Southeast Asia presents a substantial risk to private contractors and that the extreme variance in public contract law is detrimental to both parties involved. …
High Time For A Change: How The Relationship Between Signatory Countries And The United Nations Conventions Governing Narcotic Drugs Must Adapt To Foster A Global Shift In Cannabis Law, Alexander Clementi
Brooklyn Journal of International Law
Since the early 1970’s, the inclusion of cannabis and its byproducts in the United Nations Single Convention on Narcotic Drugs has mandated a strict prohibition on cultivation and use of the substance, which has led to a largely global practice of criminalization and imprisonment of anyone found to be in its possession. Yet recently, mostly in response to growing public health concerns, countries like Uruguay, Portugal, The Netherlands, Canada, and the United States have enacted laws which seek to decriminalize or even legalize cannabis use and possession. Yet, cannabis remains classified as a Schedule IV narcotic under the Single Convention, …
Level-Up: Towards A More Competitive & Labor-Friendly E-Sports Industry, Andrew Ramstad
Level-Up: Towards A More Competitive & Labor-Friendly E-Sports Industry, Andrew Ramstad
Brooklyn Journal of International Law
Despite humble beginnings, the advent of the modern internet has seen the explosion of e-sports into an industry commanding hundreds of millions of annual viewers and nearly a billion dollars in annual advertising revenue. Facilitating this expansion has been a shift from independently run competitive e-sports leagues to leagues created and operated by the developers of the league’s underlying game. This vertical integration by developers increases e-sports accessibility to viewers, but at the cost of decreased player bargaining power and professional flexibility. The integration further incentivizes ever-increasing working hours and self-destructive or rule-breaking behavior by players to stay competitive. This …
Functional Statehood In Contemporary International Law, William Thomas Worster
Functional Statehood In Contemporary International Law, William Thomas Worster
Brooklyn Journal of International Law
The international community lacks a form of territorial-based, international legal personality distinct from statehood, and yet, non-state, territorial entities of varying degrees of autonomy or independence need to function within the international community in some form. Some of these entities cannot be recognized as states because their creation violates jus cogens norms, though others are not recognized based on an assessment that they may not fully qualify as a state or that there are political reasons to refuse recognition. However, existing states still need to engage with these territorial quasi-states through the only paradigm the international community has—statehood. For example, …
Directors’ Duty Of Care In Times Of Financial Distress Following The Global Epidemic Crisis, Leon Yehuda Anidjar
Directors’ Duty Of Care In Times Of Financial Distress Following The Global Epidemic Crisis, Leon Yehuda Anidjar
Brooklyn Journal of International Law
The global COVID-19 pandemic is causing the large-scale end of life and severe human suffering globally. This massive public health crisis created a significant economic crisis and is reflected in a recession of global production and the collapse of confidence in the functions of markets. Corporations and boards of directors around the world are required to design specific strategies to tackle the negative consequences of the crisis. This is especially true for small and medium-sized enterprises (SMEs) that suffered tremendous economic loss, and their continued existence as ongoing concern is under considerable risk. Given these uncertain financial times, this Article …
Brave New World: A Post-Coronavirus Perspective On Trade, Kevin J. Fandl
Brave New World: A Post-Coronavirus Perspective On Trade, Kevin J. Fandl
Journal of Law and Policy
Trade policy during the Obama Administration largely reflected the pinnacle of the globalist moment in history. The dream of global peace through economic security was on the cusp of being achieved, with a comprehensive set of trade alliances linking countries both economically and politically to one another, a worldwide system of rules which nearly all countries abided in their economic relationships, and a deeply integrated global supply chain that not only enabled companies to satisfy consumer demands at exceedingly low cost and rapid development, but also empowered more and more workers in poor countries to join the global economy. This …
China's Belt And Road Initiative: An Examination Of Project Financing Issues And Alternatives, August Nelson Dinwiddie
China's Belt And Road Initiative: An Examination Of Project Financing Issues And Alternatives, August Nelson Dinwiddie
Brooklyn Journal of International Law
In 2013, China launched the Belt and Road Initiative (BRI) to realize the vision of revitalizing the ancient Silk Road. The BRI can be characterized as a vast infrastructure development initiative spanning over sixty-five countries that total almost half of the world's GDP. Since its launch, BRI projects have primarily been financed through commercial loans provided by Chinese banks, creating concerns over debt sustainability. At the top of these concerns are fears over whether participation in the BRI will lead to a "debt-trap scenaro." Public-Private Partnerships (PPPs) provide an alternative financing option. In project development under a PPP, particularly the …
Multi-Jurisdictional Anti-Corruption Enforcement: Time For A Global Approach, Sharon Oded
Multi-Jurisdictional Anti-Corruption Enforcement: Time For A Global Approach, Sharon Oded
Journal of Law and Policy
With the rise of globalization, foreign corruption has become a prominent enemy of the world’s economy. Over time, numerous international initiatives―such as the OECD and United Nations conventions against foreign corruption―have enlisted a growing number of sovereign states to join in the global war against that enemy. As a consequence, global enhancement of anti-foreign corruption enforcement often results in duplicative, multi-jurisdictional enforcement, such that multiple enforcement actions are initiated against the same corporation by several authorities, in one or more jurisdictions, in relation to the same misconduct. This phenomenon, which was recently addressed by the US Department of Justice in …
Forging Taiwan’S Legal Identity, Margaret K. Lewis
Forging Taiwan’S Legal Identity, Margaret K. Lewis
Brooklyn Journal of International Law
The legal system in Taiwan is undergoing a transformation. Over a hundred years since the founding of the Republic of China and over thirty years since the end of martial law on Taiwan, a new legal identity is being forged. Public criticism of “dinosaur” judges and esoteric debates among law-trained elites have galvanized efforts to create a more inclusive discussion surrounding legal reforms. Taiwan is facing the challenge of moving from dinosaurs to dynamism. This Article argues that transparency, clarity, and participation both are animating principles of the current reform debate and are beginning to emerge as characteristics of Taiwan’s …
The Plight Of Georgia: Russian Occupation And The Energy Charter Treaty, Jennessa M. Lever
The Plight Of Georgia: Russian Occupation And The Energy Charter Treaty, Jennessa M. Lever
Brooklyn Journal of International Law
After the Five-Day Russo-Georgian War, Russia usurped Georgian separatist territories, including a stretch of the Baku-Supsa Pipeline which provides gas to Europe. The continued occupation by Russia endangers Georgian sovereignty, natural resources, and economic security and puts Europe’s gas security at risk. The Energy Charter Treaty (ECT), through provisional application, provides a unique opportunity to assist Georgia’s battle for territorial integrity. This Note will examine the ECT’s ability to provide a pathway for Georgian economic and energy security by holding Russia accountable for violations of the ECT and removing Russia’s stronghold on the region.
The Inaugural Brooklyn Lecture On International Business Law: “Isds: The Wild, Wild West Of International Practice”, George Kahale Iii
The Inaugural Brooklyn Lecture On International Business Law: “Isds: The Wild, Wild West Of International Practice”, George Kahale Iii
Brooklyn Journal of International Law
The lecture was delivered on April 3, 2018 at Brooklyn Law School and was sponsored by the Dennis J. Block Center for the Study of International Business Law and the Brooklyn Journal of International Law.
Rethinking Isds, George Kahale Iii
Rethinking Isds, George Kahale Iii
Brooklyn Journal of International Law
The author is Chairman of Curtis, Mallet-Prevost, Colt & Mosle LLP and has acted as lead counsel for respondent states in many investor-state arbitrations, including several of the cases referred to herein. His article won the 2019 Burton Award for Distinguished Legal Writing.
Against Aviation Orthodoxy: India's Foreign Investment Regime For The Airline Industry, Jae Woon Lee, Umakanth Varottil
Against Aviation Orthodoxy: India's Foreign Investment Regime For The Airline Industry, Jae Woon Lee, Umakanth Varottil
Brooklyn Journal of International Law
The foreign investment regime governing the airline industry has been the subject matter of considerable debate. Our goal in this article is to supplement the literature by embarking on an analysis of the foreign investment regime in India and to cautiously suggest that India’s new regulatory reforms could be a harbinger for other states. A study of the foreign investment regime in the airline industry in India is both interesting and timely, for at least two reasons. First, India has nearly everything that bodes well for the growth of an aviation market, and it is one of the fastest growing …
Sovereign Debt Restructuring And English Governing Law, Steven L. Schwarcz
Sovereign Debt Restructuring And English Governing Law, Steven L. Schwarcz
Brooklyn Journal of Corporate, Financial & Commercial Law
The problem of sovereign indebtedness is becoming a worldwide crisis because nations, unlike individuals and corporations, lack access to bankruptcy laws to restructure unsustainable debt. Decades of international efforts to solve this problem through contracting and attempted treaty-making have failed to provide an adequate debt-restructuring framework. A significant amount of outstanding sovereign debt is governed, however, by English law. This Article argues that the U.K. Parliament has the extraordinary power to help solve the problem of unsustainable country debt by changing English law to facilitate fair and consensual debt restructuring. This Article also proposes modifications to English law that Parliament …
Putting The Substance Back Into The Economic Substance Doctrine, Nicholas Giordano
Putting The Substance Back Into The Economic Substance Doctrine, Nicholas Giordano
Brooklyn Journal of Corporate, Financial & Commercial Law
The foreign tax credit, which saves U.S. taxpayers from paying both foreign and domestic income taxes on the same income, is critical to facilitating global commerce. However, as savvy taxpayers discover increasingly complicated ways to abuse the foreign tax credit regime through the structuring of business transactions, courts have become increasingly skeptical of the validity of those transactions. Using the economic substance doctrine, a common law doctrine codified in 2010 at I.R.C. § 7701(o), courts will disallow tax benefits stemming from a transaction that is not profitable absent its tax benefits, and which the taxpayer had no incentive to undertake …
Confounding Ockham's Razor: Minilateralism And International Economic Regulation, Eric C. Chaffee
Confounding Ockham's Razor: Minilateralism And International Economic Regulation, Eric C. Chaffee
Brooklyn Journal of Corporate, Financial & Commercial Law
In Minilateralism: How Trade Alliances, Soft Law, and Financial Engineering Are Redefining Economic Statecraft, Professor Chris Brummer embraces the complexity of the global economic system and its regulation by exploring the emerging role and dominance of varying strands of economic collaboration and regulation that he collectively refers to as “minilateralism.” In describing the turn toward minilateralism, Brummer notes a number of key features of this new minilateral system, including a shift away from global cooperation to strategic alliances composed of the smallest group necessary to achieve a particular goal, a turn from formal treaties to informal non-binding accords and other …
Regulatory Incentive Realignment And The Eu Legal Framework Of Bank Resolution, Andromachi Georgosouli
Regulatory Incentive Realignment And The Eu Legal Framework Of Bank Resolution, Andromachi Georgosouli
Brooklyn Journal of Corporate, Financial & Commercial Law
Risks associated with incentive misalignment are liable to seriously jeopardize the effectiveness of bank resolution, when not properly contained. This Article considers the management of misaligned incentives between regulators that are found in a vertical relationship of public governance. Using the EU legal framework of bank resolution as its case study, this Article explores the effectiveness of the quasi-enforcement powers of the Single Resolution Board (SRB) and, where relevant, of the European Banking Authority (EBA) as an incentive realignment legal technique. Two principal difficulties are identified: on the one hand, the problematic interinstitutional dynamic of the SRB and the EBA …
Liquidity, Systemic Risk, And The Bankruptcy Treatment Of Financial Contracts, Rizwaan J. Mokal
Liquidity, Systemic Risk, And The Bankruptcy Treatment Of Financial Contracts, Rizwaan J. Mokal
Brooklyn Journal of Corporate, Financial & Commercial Law
No abstract provided.