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Equity

Articles 1 - 5 of 5

Full-Text Articles in Law

Paper Dragon Thieves, J.S. Nelson Dec 2016

Paper Dragon Thieves, J.S. Nelson

J.S. Nelson

Developments in the law are making the corporate form more opaque and allowing the agents who animate it to escape individual accountability for their actions. The law now provides protection for agents to engage in widespread frauds that inflict massive harm on the public. This article challenges the academic orthodoxy that shareholder and director liability are enough to control agent behavior by developing a paper dragon analogy to focus on the importance of agents in corporate animation. Lack of agent accountability encourages the patterns of fraud that caused the financial crisis in which forty-five percent of the world’s wealth disappeared, …

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The Corporate Shell Game, J.S. Nelson Dec 2015

The Corporate Shell Game, J.S. Nelson

J.S. Nelson

This Article identifies for the first time the hardening of the corporate shell. It provides compelling evidence that shell-hardening pushes and disguises the way that corporations and agents commit large-scale wrongdoing, and it traces the contributing legal streams that protect the agents who engage in this behavior. The only way to combat widespread frauds that inflict damage on the public is for the corporate shell to be-come less opaque.

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Opportunism As Crucible: Rethinking Equity In View Of Reliance Interests And Legal Evolution, John Ehrett Dec 2014

Opportunism As Crucible: Rethinking Equity In View Of Reliance Interests And Legal Evolution, John Ehrett

John Ehrett

This Article offers and defends a nuanced definition of opportunism in the context of legal decision-making by differentiating between opportunism in the broad sense and the particularized phenomenon of cognizably malignant opportunism. It subsequently proceeds by developing a normative critique of the case for broader invocation of counter opportunistic equitable remedies, alongside a defense of the reliance and gap-filling functions performed by opportunistic actors. Centrally, I challenge the suggestion that the existence of opportunism in private law warrants a revival of the doctrines of ex post equity. I argue instead that opportunism serves an important structural purpose where the evolution …

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Time To Tame The "Wild Beast" In The Wild West? The Regulation Of Disclosure Of Equity Derivatives In New Zealand, Nan Seuffert Dec 2012

Time To Tame The "Wild Beast" In The Wild West? The Regulation Of Disclosure Of Equity Derivatives In New Zealand, Nan Seuffert

Professor Nan Seuffert

The causes of the recent global financial crisis (GFC) have been a topic of intense debate, with commentators and others pointing to the enormous growth in, and relative lack of regulation of, derivative financial products, including over-the-counter equity swap agreements, as a contributing factor. In New Zealand the Court of Appeal held in Ithaca (Custodians) Ltd v Perry Corp [2004] 1 NZLR 731 that such swap agreements referencing substantial holdings in underlying securities of a particular company did not require disclosure under the substantial security holder disclosure provisions. This article analyses that decision in the context of the GFC and …

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Taming The Wild Beast: The Regulation Of Equity Derivatives In New Zealand, Nan Seuffert Dec 2012

Taming The Wild Beast: The Regulation Of Equity Derivatives In New Zealand, Nan Seuffert

Professor Nan Seuffert

The causes of the recent global financial crisis (GFC) have been the topic of intense debate; the contribution of the enormous growth in, and lack of regulation of, derivative financial products, including over-the-counter swaps has been one of the epicentres of that debate. The regulation of derivatives was a topic of some controversy internationally prior to the GFC; derivatives were sometimes referred to as the "wild beasts" of finance markets and some commentators highlighted the systemic risks posed to national economies due to the lack of regulation of these markets. In New Zealand the issue of the regulation of the …

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