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Full-Text Articles in Law
Incentivizing Corporate America To Eradicate Transnational Bribery Worldwide: Federal Transparency And Voluntary Disclosure Under The Foreign Corrupt Practice Act, Peter Reilly
Peter R. Reilly
In 1977, it was discovered that hundreds of U.S. companies had spent hundreds of millions of dollars in bribes to improve business overseas. In response, Congress passed the Foreign Corrupt Practices Act (FCPA), thereby making it illegal to bribe foreign officials to obtain a business advantage. A major tension has emerged between the federal agencies charged with enforcing the FCPA (i.e., the DOJ and SEC), and the corporate entities trying to stay within the legal and regulatory bounds of the statute. Specifically, while the government appears to be trying to maximize discretion and flexibility in carrying out its enforcement duties, …
Cash Of The Titans: Arbitrating Challenges To Executive Compensation, Kenneth Davis
Cash Of The Titans: Arbitrating Challenges To Executive Compensation, Kenneth Davis
Kenneth R. Davis
Excessive executive compensation is endemic to U.S. corporations, and the trend is spiraling out of control. To challenge excessive pay packages, shareholders sometimes institute derivative suits. This approach has had limited success, however, because several principles of law – most notably the business judgment rule – shield directors from liability for awarding exorbitant pay to high-level managers. The business judgment rule removes the unreasonableness of compensation packages from the reach of judicial review. This Article proposes that corporations duly approve procedures to arbitrate shareholder challenges to excessive compensation agreements. Arbitration is uniquely suited for this purpose. Arbitrators are not bound …
Soft Law In The Organization And General Conduct Of Commercial Arbitration Proceedings, Thomas Stipanowich
Soft Law In The Organization And General Conduct Of Commercial Arbitration Proceedings, Thomas Stipanowich
Thomas J. Stipanowich
This commentary examines the growing use of Soft Law - non-binding guidelines that currently play an important role in organizing and conducting commercial arbitration proceedings. Standards such as the UNCITRAL Notes on Organizing Arbitral Proceedings, the ICC Techniques for Controlling Time and Costs in Arbitration, and the Protocols for Expeditious, Cost-Effective Commercial Arbitration have evolved from professional discourse regarding process management and more particular concerns about cost, delay and inefficiency in arbitration. Collectively, these guidelines reflect a growing recognition that deliberate and proactive effort by business users, counsel, arbitrators and provider institutions is critical to making the most of arbitration …
Living With Adr: Evolving Perceptions And Use Of Mediation, Arbitration And Conflict Management In Fortune 1,000 Corporations, Thomas J. Stipanowich
Living With Adr: Evolving Perceptions And Use Of Mediation, Arbitration And Conflict Management In Fortune 1,000 Corporations, Thomas J. Stipanowich
Thomas J. Stipanowich
For the second time in fifteen years, leading counsel at many of the world’s largest corporations participated in a landmark survey of perceptions and experiences with “alternative dispute resolution (ADR)”—mediation, arbitration and other third party intervention strategies intended to produce more satisfactory paths to managing and resolving conflict, including approaches that may be more economical, less formal and more private than court litigation, with more satisfactory and more durable results. Comparing their responses to those of the mid-1990s, significant evolutionary trends are observable. As a group, corporate attorneys have moderated their expectations for ADR. At the same time, more corporations …
Patterns Of Adr Use In Corporate Disputes, David B. Lipsky, Ronald L. Seeber
Patterns Of Adr Use In Corporate Disputes, David B. Lipsky, Ronald L. Seeber
David B Lipsky
[Excerpt] Is it reasonable to expect that the use of ADR by U.S. corporations will continue to grow in the future? We asked the respondents in our survey a series of questions designed to determine their view on this issue....In general, a large majority of the respondents in our survey believe that they are "likely" or "very likely" to use mediation in the future—38% and 46%, respectively. They were more cautious about the use of arbitration. Only 24% said they were very likely to use it in the future, while 47% said they were likely to do so. More than …
An Alternative Universe To §1113 Of The Bankruptcy Code: The Mediation Of American Airlines And Its Pension Obligations, Max L. Schatzow
An Alternative Universe To §1113 Of The Bankruptcy Code: The Mediation Of American Airlines And Its Pension Obligations, Max L. Schatzow
Max Schatzow
This paper explores mandatory mediation as an alternative method to the current §1113 framework, where judges determine the fate of collective bargaining agreements. Through dialogue, this paper will explore one potential outcome to the ongoing dispute between the various labor unions with collective bargaining agreements with American Airlines.