Law Commons^™

Cashless Societies And The Rise Of The Independent Cryptocurrencies: How Governments Can Use Privacy Laws To Compete With Independent Cryptocurrencies, Matla Garcia Chavolla

Pace International Law Review

Many individuals (including governments) envision living in a future world where physical currency is a thing of the past. Many countries have made great strides in their efforts to go cashless. At the same time, there is increasing awareness among citizens of the decreasing amount of privacy in their lives. The potential hazards cashless societies pose to financial privacy may incentivize citizens to hold some of their money in independent cryptocurrencies. This article argues that in order for governments in cashless societies to keep firm control over their money supply, they should enact stronger privacy law protections for its citizens …

Survivor Funds, Jonathan Barry Forman, Michael J. Sabin

Pace Law Review

This Article explains how to create “survivor funds”—short-term investment funds that would pay more to those investors who live until the end of the fund’s term than to those who die before then. For example, instead of just investing in a ten-year bond and dividing the proceeds among the investors at the end of the bond term, a survivor fund would invest in that ten-year bond but divide the proceeds only among those who survived the full ten years. These survivor funds would be attractive investments because the survivors would get a greater return on their investments, while the decedents, …

The New Era Of Doing Business With Iran: Iran’S International Commercial Transactions And Global Security, John Changiz Vafai

Pace International Law Review

On January 17, 2016, in a statement following his signing of the Joint Comprehensive Plan of Action (JCPOA) with Iran, President Obama addressed that country’s people, stating that “yours is a great civilization, with a vibrant culture that has so much to contribute to the world – in commerce, and in science and the arts.” While the former U.S. President’s evaluation of the Iranian people’s greatness is indisputable, there are questions concerning doing business with Iran which transcend conventional legal issues and commercial problems.

Given the juxtaposition of Iran’s duopolistic government structure and ideologically oriented decision-making processes, questions arise as …

Rights Of European Union Depositors Under Article 17 Of The Charter Of Fundamental Rights After The Cyprus Bail-Out, Paul Artemou

Pace International Law Review

Banks in the Republic of Cyprus began to deteriorate in 2010 due to risky investments with Greece. The two largest Cypriot banks, Cyprus Popular Bank (Laiki) and Bank of Cyprus (BoC), undertook losses, which made the country economically unstable. After requesting financial assistance from the Eurogroup and International Monetary Fund, there was an agreement for Cyprus to raise € 4.2 billion in return for a € 10 billion bailout. Part of the agreement in raising the funds was a levy of bank deposits towards the recapitalization needs of the two largest banks.

The Cyprus bail-in was unpopular and received much …

The Art Of A Loan: “When The Loan Sharks Meet Damien Hirst’S ‘$12-Million Stuffed Shark’”, Valerie Medelyan

Pace Law Review

Part I of this Article introduces the reader to the typical types of loans that banks make, includes an in-depth description of a secured loan, and finishes with a discussion of the due diligence requirements of banks. Part II identifies the unique complexities posed by art when it is used as collateral, comparing and contrasting the banks’ process when approving a loan secured by commonly-used assets versus a loan secured by art. Part III discusses the banks’ growing willingness to approve art-backed loans, and identifies the safeguards built into such deals. Part IV introduces the sub-prime lenders of the art …

Too Complex To Perceive? Drafting Cash Distribution Waterfalls Directly As Code To Reduce Complexity And Legal Risk In Structured Finance, Master Limited Partnership, And Private Equity Transactions, Ralph C. Mayrell

Pace Law Review

This Article proposes that complex structured finance transactions involving sophisticated investors should adopt an analogous solution to the home construction agreements’ strategy of contracting by reference to blueprints. First, dealmakers should, preferably by choice, place as much of their waterfall distribution specification and related inputs as possible into automated, programmatic representations that will be used to make the actual distribution. In many cases, these agreements already have programmatic representations, so this change should pose relatively few practical challenges logistically. Second, they should, like their counterparts in construction contracts, define the terms of those waterfalls by reference to their functional representations. …

Money Spending Or Money Laundering: The Fine Line Between Legal And Illegal Financial Transactions, Matthew R. Auten

Pace Law Review

In this Article, I will examine the history of legislative efforts to combat money laundering in the United States, including the intent and purpose of the Money Laundering Control Act 1986.13 I will then analyze how courts have addressed the challenge of characterizing dual-purpose transactions by developing factors whose presence may show that a transaction was entered into with an intent to conceal. In addition to providing an analysis of several cases where courts grappled with the challenges of characterizing dual-purpose transactions, I will also examine the development of a “heightened” evidentiary standard that is often applied to scrutinize whether …

Disquiet On The Home Front: Disturbing Crises In The Nation's Markets And Institutions, Shelby D. Green

Pace Law Review

No abstract provided.

Smoke And Mirrors: Predatory Lending And The Subprime Mortgage Loan Securitization Pyramid Scheme, Navid Vazire

Pace Law Review

No abstract provided.

State Subprime Lending Litigation And Federal Preemption: Toward A National Standard, Alan H. Scheiner

Pace Law Review

No abstract provided.

Mortgage Market Reform And The Fallacy Of Self-Correcting Markets, Robin Paul Malloy

Pace Law Review

No abstract provided.

Can't Live Without Air: Title Insurance And The Bursting Of The Real Estate Bubble, Marvin N. Bagwell

Pace Law Review

No abstract provided.

A Superfund Solution For An Economic Love Canal, Mehmet K. Konar-Steenberg

Pace Law Review

No abstract provided.

Nationalization, De-Nationalization, Re-Nationalization: Some Historical And Comparative Perspective, Mark A. Edwards

Pace Law Review

No abstract provided.

Unsafe Loans In A Deregulated U.S. Mortgage Market, Vincent Di Lorenzo

Pace Law Review

No abstract provided.

The Importance Of Deceptive Practice Enforcement In Financial Institution Regulation, Prentiss Cox

Pace Law Review

No abstract provided.

A Glance At The Impact Of The Subprime Mortgage Crisis On The Title Insurance Industry, Suzanne M. Garcia

Pace Law Review

No abstract provided.

Pangaea: Converging Global Approaches To Bundled Brokerage And Soft Dollar Practices, Andrew R. Mannarino

Pace Law Review

No abstract provided.