Law Commons^™

Virginia's Affiliated Transactions Article: The Death Of Two-Tiered Takeovers In Virginia?

Washington and Lee Law Review

No abstract provided.

Department Of Corporations, J. Stahl, S. Strand

California Regulatory Law Reporter

No abstract provided.

The Independent Corporate Board: A Means To What End?, Roberta S. Karmel

Faculty Scholarship

No abstract provided.

Corporate Extortion In Japan: Sokaiya Endure Commercial Code Amendment, Dean L. Rostrom

BYU Law Review

No abstract provided.

The Corporate Governance Debate And The Ali Proposals: Reform Or Restatement?, Kathryn N. Fine

Vanderbilt Law Review

Much of the debate concerning corporate governance centers on the American Law Institute's proposed Principles of Corporate Governance [hereinafter ALI Proposals or ALI Principles].' The "restate" the law of corporate governance without departing from the primary goal stated in the ALI's charter: "to promote the clarification and simplification of the law and its better adaptation to social needs."' The ALI Proposals, however, have evolved into a"new art form"' and, unlike a restatement, have proposed reforms in addition to codifying the common law. Because of the predominance of statutory corporation law, the ALI Proposals have focused selectively on those areas that …

An Historical Perspective On The Duty Of Care, The Duty Of Loyalty, And The Business Judgment Rule, Marcia M. Mcmurray

Vanderbilt Law Review

For more than two hundred years courts have attempted to define the status and character of corporate directors and officers in an effort to establish and delineate their responsibilities and liabilities. In Charitable Corp. v. Sutton,' an eighteenth century English case, the Lord Chancellor described corporate directors as both agents and trustees. This mixed characterization was adopted and subsequently persisted in later American cases until courts finally determined that directors and officers are fiduciaries"who have a "distinct legal relationship" with the corporation. As fiduciaries, directors and officers must conform to the duty of care'and the duty of loyalty, duties that …

The Duty Of Care And The Duty Of Loyalty In The Revised Model Business Corporation Act, Thomas A. D'Ambrosio

Vanderbilt Law Review

In 1950 the Committee on Corporate Laws of the Section of Corporation, Banking and Business Law of the American Bar Association (the Committee) adopted the Model Business Corporation Act (Model Act or MBCA). The Committee drafted the Model Act in order to provide a dynamic model for keeping state corporation laws updated and responsive to the current demands of the business and legal communities.' Because of this goal, the Model Act was in a constant state of revision. This constant state of revision provided an impetus for the Committee to adopt, in 1984, the Revised Model Business Corporation Act (Revised …

Recent Developments Concerning The Duty Of Care, The Duty Of Loyalty, And The Business Judgment Rule, Patricia A. Daniel

Vanderbilt Law Review

The judiciary faces a difficult task in attempting to define the proper standards of conduct for corporate directors and officers. Although courts have enunciated various standards, the prevailing theme has been that corporate directors and officers are fiduciaries who have a "distinct legal relationship" with the corporation and its shareholders. As fiduciaries, directors and officers must con-form to the duty of care and the duty of loyalty. The business judgment rule, which creates a presumption of propriety for directors' and officers' substantive business decisions, developed concurrently with these duties. Several recent court decisions concerning corporate director and officer liability appear …

Conclusion, Christopher C. Whitson, Thomas A. D'Ambrosio, Patricia A. Daniel, Kathryn N. Fine, Robert P. Mckinney, Marcia M. Mcmurray, Bennet L. Ross

Vanderbilt Law Review

Despite recent responses designed to combat the increased liability exposure of directors and officers, the personal risks for corporate insiders remain significant. With corporations operating in an ever-complex regulatory maze, there has been an increased focus on corporate accountability. The difficulty in resolving director and officer liability issues, however, arises in balancing the need to punish misguided fiduciaries with the need to protect aggressive managers who take good faith risks to produce increased corporate profits. While long-range solutions to this balancing problem are essential, directors and officers should pursue short-term tactics to reduce their risk of personal liability.

Because it …

Successor Liability In Bankruptcy: Some Unifying Themes Of Intertemporal Creditor Priorities Created By Running Covenants, Products Liability, And Toxic-Waste Cleanup, David G. Carlson

Articles

No abstract provided.

The Election Of Directors And Chapter 11--The Second Circuit Tells Stockholders To Walk Softly And Carry A Big Lever, Michael A. Gerber

Faculty Scholarship

No abstract provided.

Mandatory Disclosure For Municipal Securities: Issues In Implementation, Ann Judith Gellis

Articles by Maurer Faculty

No abstract provided.

Rethinking The Rule Against Corporate Privacy Rights: Some Conceptual Quandries For The Common Law, 20 J. Marshall L. Rev. 607 (1987), Anita L. Allen

UIC Law Review

No abstract provided.

Illinois' New Second Generation, Second Step Takeover Amendment: Continuing The Trend Of States' Takeover Regulations, 21 J. Marshall L. Rev. 87 (1987), Valerie Ann Hall

UIC Law Review

No abstract provided.

Poison Pill: A Panacea For The Hostile Corporate Takeover, 21 J. Marshall L. Rev. 107 (1987), Robert C. Micheletto

UIC Law Review

No abstract provided.

California Federal Savings & (And) Loan Association V. Guerra: Supreme Court Affirms California's Efforts To Accommodate Pregnancy In Fair Employment Laws, 21 J. Marshall L. Rev. 181 (1987), Judith Gallo

UIC Law Review

No abstract provided.

Like Bamboo Shoots After A Rain: Exploiting The Chinese Law And New Regulations On Sino-Foreign Joint Ventures, Zhang Yuqing

Northwestern Journal of International Law & Business

The purpose of this Article is to describe the general legal framework for establishing an equity joint venture in China, and to analyze the effect of these laws and regulations on Sino-foreign equity joint ventures. In order to make this Article of most practical use, a discussion of the recently promulgated Chinese laws and regulations is included.

Pronuptia De Paris V. Schillgalis: Permissible Restraints Of Trade On Franchising In The Eec, Eileen R. Hurley

Northwestern Journal of International Law & Business

This Note examines the Pronuptia decision for the legal definition and substantial support it gives to the franchising concept. 14 When compared to the Court's prior decision in Etablissements Consten SARL and Grundig-Verkaufs-GmbH v. Commission, 5 Pronuptia is seen to promote a more liberal interpretation of the EEC Treaty's competition article, Article 85. However, Pronuptia falls short of the advances made in Nungesser KG v. Commission,16 because some territorial restraints allowed under Article 85(1) in that case were not permitted in Pronuptia. The Court's approach in Pronuptia to the doctrine of ancillary restraints is also discussed. Use of this doctrine …

Comments: The Intracorporate Conspiracy Doctrine, John T. Prisbe

University of Baltimore Law Review

Intracorporate conspiracy arises when a corporation and its own officers, directors, employees, or agents conspire to violate the law. The doctrine of intracorporate conspiracy has posed conceptual problems for the courts, however, because under corporate agency principles a corporation is personified through the acts of its agents and therefore the requisite element of plurality of actors is not present. Notwithstanding this conceptual difficulty, courts have applied the intracorporate conspiracy doctrine in some contexts. This comment reviews the history of the intracorporate conspiracy doctrine and its varied application in the areas of antitrust, civil rights, and criminal law.

Department Of Corporations, J. Stahl, S. Strand

California Regulatory Law Reporter

No abstract provided.

Corporations, 12 S. Ill. U. L.J. 809 (1987), Diane S. Kaplan

UIC Law Open Access Faculty Scholarship

No abstract provided.

Continuity And Change: Partnership Formation Under The Common Law, Deborah W. Post

Villanova Law Review (1956 - )

No abstract provided.

The Future Of Corporate Federalism: State Competition And The New Trend Toward De Facto Federal Minimum Standards, John C. Coffee Jr.

Faculty Scholarship

What sensible compromise can be struck between Bill Cary's and Ralph Winter's views of the competition among states for corporate charters? This is the relevant question to ask in response to Professor Romano's stimulating paper, because if one ends in an intermediate position between Cary and Winter (as she does and as I do), then one needs to focus on the protections shareholders should be accorded both to protect them from exploitation at the hands of a state pursuing tax revenues and from excessive regulation by a state whose regulatory efforts are intended in fact to realize ulterior objectives unrelated …

Japanese-Style Worker Participation And United States Labor Law, William S. Rutchow

Michigan Journal of International Law

This note will evaluate the current legal status of Japanese-style worker participation programs under the NLRA. First, it analyzes relevant sections of the NLRA and their interpretation by the Board and the courts. Second, the note describes various types of Japanese worker participation programs, and suggests how these programs can be legally implemented under current American labor law. Third, the note considers standards the Supreme Court may adopt to test the legality of worker participation programs in the future. Finally, this note recommends that the Supreme Court uphold those participation programs which are freely chosen by employees.

The Case For Employee Ownership In Overseas Operations Of U.S. Multinational Enterprises In Central America, William G. Hopping

Michigan Journal of International Law

Part II of this note explains the relevance of using U.S. direct investment in Central America as a starting point for encouraging employee ownership. Part III describes the essential legal framework of the ESOP in the U.S., providing a framework from which to adapt the ESOP to other countries. Part IV argues that all parties participating in this form of expanded ownership will realize significant short and long-term benefits, but points out some problems of transferring ESOPs, a U.S. legal innovation, to different cultural and business environments. Part V presents some of the legal and economic issues of adapting ESOPs, …

Intragroup (Upstream, Cross-Stream, And Downstream) Guaranties Under The Uniform Fraudulent Transfer Act, Phillip Blumberg

Faculty Articles and Papers

No abstract provided.

Herbester V. North American Company For Life And Health Insurance: Attorney's Retaliatory Discharge Action Unjustly Dismissed, 21 J. Marshall L. Rev. 215 (1987), Dennis M. Nolan

UIC Law Review

No abstract provided.

The Effectiveness Of Involuntary Dissolution Suits As A Remedy For Close Corporation Dissension, Harry J. Haynsworth

Cleveland State Law Review

Intra-corporate dissension between shareholders in a close corporation that can lead to serious deadlock, corporate paralysis and attempted squeeze-outs or other oppressive action is well documented. The purpose of this article is to discuss the available remedies for dealing with this dissension, placing particular emphasis on involuntary dissolution suits, since historically such suits have been the most common litigation remedy used by aggrieved shareholders. The basic conclusion reached is that for the most part judges have done a commendable job of balancing the expectation interests of minority shareholders against the inherent voting and management rights of majority shareholders, and of …

Oppression Of Minority Shareholders: Protecting Minority Rights, F. Hodge O'Neal

Cleveland State Law Review

Unfair treatment of holders of minority interests in family companies and other closely held corporations by persons in control of those corporations is so widespread that it is a national business scandal. The amount of litigation growing out of minority shareholder oppression –actual, fancied or fabricated– has grown tremendously in recent years, and the flood of litigation shows no sign of abating. This paper outlines and discusses briefly: (1) the most frequent causes of dissension among shareholders in a close corporation; (2) the techniques used by controlling shareholders to eliminate minority shareholders from an enterprise or otherwise oppress them; (3) …

The Close Corporation Under Ohio Law, Forrest B. Weinberg

Cleveland State Law Review

Section 1701.591 of the Ohio Revised Code is Ohio's close corporation law. It provides, through the use of a "close corporation agreement," the mechanism, first, for implementing unprecedented informality in the functioning of a close corporation and, second, for establishing a legal relationship among the shareholders that is essentially the same as that provided by law for members of a partnership. The new law will have the major impact it deserves only as the result of initiative taken by Ohio attorneys engaged in the formation and ongoing representation of close corporations. It is hoped that this article will help motivate …