Law Commons^™

Self-Settled Spendthrift Trusts: Should A Few Bad Apples Spoil The Bunch?, Gideon Rothschild, Daniel S. Rubin, Jonathan G. Blattmachr

Vanderbilt Journal of Transnational Law

It is unfortunate, but perhaps not terribly surprising, that the first two reported cases to consider the application of conflict of laws principles to self-settled spendthrift trusts both involved "bad facts" from an asset protection planning standpoint. In this regard, the adage "bad facts produce bad law" is not a slight on the courts, but rather an acknowledgment of a court's primary duty to do substantial justice to the parties immediately before it. However, in an effort to do substantial justice to the parties immediately before them, the Portnoy and Brooks courts have forged what may well become the first …

Roundtable Discussion, David Aronofsky, Barry S. Engel, Eric Henzy, Gideon Rothschild, Jeffrey A. Schoenblum

Vanderbilt Journal of Transnational Law

Welcome to the Roundtable panel discussion. Each of the speakers is going to open with a few minutes statement. And then we're going to pose some questions to open discussion, so it will take people through the whole asset protection route from beginning to end, hopefully. And then, any questions you may have we believe we'll have sufficient time to ask those questions and have them answered. You may get very different views. And then we've just decided that the jury will decide whether asset protection trusts are a good thing or a bad thing. Okay. So pay attention.

Public Policy Concerns Prevent Application Of Comity To Foreign Bankruptcy Proceedings That Discriminate Against Tax Obligations Owed To The United States Government, Michael P. Bigelow

Vanderbilt Journal of Transnational Law

This Case Comment explores the application of comity to foreign bankruptcy proceedings, particularly when comity would render the Internal Revenue Service a general unsecured creditor in bankruptcy. The United States Court of Appeals for the Fifth Circuit held on public policy grounds that comity should not be accorded to a Luxembourg bankruptcy proceeding that discriminated against tax obligations owed to the United States government. This Case Comment discusses the factual setting for the instant decision and presents a brief history of transnational insolvency law. The author finds that the law of transnational insolvency is inconsistent and underdeveloped and that the …

International Environmental Bankruptcy: An Overview Of Environmental Bankruptcy Law, Including A State's Claims Against The Multinational Polluter, Rick M. Reznicsek

Vanderbilt Journal of Transnational Law

This Note focuses on current environmental bankruptcy law in the United States. It analyzes the claims of a state against a corporate polluter when the corporation discharges a toxic substance in violation of the state's environmental laws, refuses to clean up the waste, and then files bankruptcy in lieu of paying for the cleanup.

This Note analyzes the court decisions subsequent to the United States Supreme Court opinions in Ohio v. Kovacs and Midlantic National Bank v. New Jersey Department of Environmental Protection to evaluate the current status of United States bankruptcy law on the issues of the automatic stay; …

The Enterprise Bankruptcy Law Of The People's Republic Of China (For Trial Use): A Translation, Henry R. Zheng

Vanderbilt Journal of Transnational Law

Art. 1. This law is enacted to meet the need for development of the planned socialist commodity economy and for economic reform, to promote the independence of business management of the enterprises under the ownership by the whole people, to strengthen the system of economic responsibility and democratic management, to improve business management and economic performance, and to protect the lawful rights and interests of debtors and creditors. Art. 2. This law applies to enterprises under the ownership of the whole people.

Art. 3. Enterprises that sustain serious loss due to inappropriate management and that are unable to pay off …

Case Comment, Laura F. Howard

Vanderbilt Journal of Transnational Law

SCOPE OF REVIEW IN EXTRADITION PROCEEDINGS: The Government Cannot Appeal A Denial of Extradition Request Based on the Declaratory Judgment Act --United States v. Doherty, 786 F.2d 491 (2d Cir. 1986).

BANKRUPTCY--Section 304 Of The Bankruptcy Code Is Not An Exclusive Remedy In A Nonbankruptcy Court, Cunard Steamship Co.Ltd. v. Salen Reefer Serv. A.B., 773 F.2d 452 (2d Cir. 1985).

Case Digest, Law Review Staff

Vanderbilt Journal of Transnational Law

Duress is Available Defense in Mitigation of Charges of Illegally Transporting Aliens into the United States--Pollgreen v. Morris slip op. No. 84-5217 (11th Cir. Sept. 17, 1985).

Foreign Debtor not Compelled to File for Ancillary Proceeding under Bankruptcy Code; Court may grant Comity to Pending Foreign Bankruptcy Proceeding--Cunard SteamshipCo. Ltd. v. Salen Reefer Services A.B., 773 F.2d 452 (2d Cir.1985).

Forum Selection Clause in Contract between Two Sovereigns is not Waiver of Right to Remove--Proyecfin de Venezuela v. Banco Industrial de Venezuela, 760 F.2d 390 (2d Cir.1985).

Fifth Circuit Overrides Admiralty Rule and Invokes Provisions of Arbitration Treaty--Sedco, Inc. v. …

Recent Decisions, Kate Eyler, Margaret H. Young, B. Rowland Heyward, Gary I. Christian

Vanderbilt Journal of Transnational Law

Recent Decisions Immigration--Entry Resident Alien Who Makes Brief Visit Outside the Country is Deportable if He Reenters United States at an Unauthorized Location while Aiding Illegal Aliens to Enter

Kate Eyler

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International Banking--Bankruptcy--When Foreign Law Prohibits a Foreign Banking Corporation from Supplying Required Creditors List, Chapter XI Petition Should Not be Dismissed as Inherently Defective

Margaret Helen Young

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The instant case represents a change in long-standing ICC policy at once consistent with its statutory groundwork, yet with potentially drastic economic impact. In the final analysis, the issues were whether the subsequent legislation represented a congressional expression of its …

Case Digest, Journal Staff

Vanderbilt Journal of Transnational Law

1. ACT OF STATE DOCTRINE

Hickenlooper Amendment Inapplicable to Oil Drilling Concession Granted by Foreign Government

2. ADMIRALTY

Shipowner is Entitled to Indemnification from Tortfeasor when a Covenant of Workmanlike Performance by the Tortfeasor can Reasonably be Implied

Judicially-Created Maritime Wrongful Death Cause of Action Applies Retroactively as Exclusive Remedy Time-Charterer Not Entitled to Indemnification for Litigation Expenses when not Obligated to Provide Seaworthy Vessel

Claims within Scope of the Public Vessels Act Cannot be Brought under the Terms of the Suits in Admiralty Act

Lumber Employee Working on Saltwater Pond Held Not Engaged in Maritime Employment and Not Covered …

Case Comments--International Law--Corporations--State Denied Standing To Sue For Injury, Journal Staff

Vanderbilt Journal of Transnational Law

The Barcelona Traction, Light and Power Company, Ltd.,(hereinafter referred to as Barcelona Traction) was incorporated under Canadian law in 1911 with its main office in Toronto. Several subsidiaries were formed, all under Canadian law, to develop, produce, and distribute electric power in the vicinity of Catalonia, Spain. To finance these operations, the company issued both peseta and sterling bonds, the shares in some of the subsidiaries providing security to a Canadian bank for the sterling bonds. Revenue produced by the subsidiaries from their operations in Spain was used to service the bond interest. Servicing was suspended for the duration of …