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Articles 1 - 16 of 16
Full-Text Articles in Law
To Be Creditor Or To Be Shareholder, That Is The Question: Is The Debt-For-Equity Swap Creditors’ Financial Suicide?, Jongho Kim
The Journal of Business, Entrepreneurship & the Law
This Article deals with debt-for-equity swap-related issues in Korean corporate restructuring procedures. Debt-for-equity swaps were widely employed during the Latin American foreign debt restructuring process, but the Korean case is slightly different. Because the creditors of reorganizing corporations are mainly Korean domestic financial institutions rather than foreign creditors, this type of financial scheme is applied under local law. The following examines the legal aspects of debt-for-equity swaps, which have been promoted as a way to eliminate excessive insolvent loans and financial debts (and stood in the way of restructuring, via IMF bail-out funds). It also discusses how a debt-for-equity swap …
Consent Decrees In The Streaming Era: Digital Withdrawal, Fractional Licensing, And § 114(I), Steven J. Gagliano
Consent Decrees In The Streaming Era: Digital Withdrawal, Fractional Licensing, And § 114(I), Steven J. Gagliano
The Journal of Business, Entrepreneurship & the Law
Clear disagreement exists about how best to reconcile the copyright protections afforded to songwriters with the antitrust considerations protecting consumers. Songwriter public performance royalty collections account for over $2 billion in annual U.S. revenue, roughly 90% of which is collected by the American Society of Composers, Authors and Publishers (ASCAP) and Broadcast Music, Inc. (BMI). ASCAP and BMI are performance rights organizations (PROs) regulated by seventy-five-year-old consent decrees. After the Second Circuit determined that these consent decrees prohibit music publishers from selectively withdrawing their new media rights from ASCAP and BMI to directly negotiating with new media services, the PROs …
Discretion To Act: How The Federal Reserve's Decisions Whether To Provide Emergency Loans During The Financial Crisis Were Discretionary And Why Dodd-Frank Falls Short Of Preventing Future Bailouts, John De Vito
The Journal of Business, Entrepreneurship & the Law
The housing market crash of 2007–2008 threatened to cause the collapse of the United States and global economies. By early 2008, Bear Stearns, Lehman Brothers, and American International Group all faced the strong possibility of bankruptcy absent government intervention. The Federal Reserve Board of Governors activated its emergency lending powers pursuant to Section 13(3) of the Federal Reserve Act to “bail out” Bear Stearns and American International Group, but elected to let Lehman Brothers fail. Lehman’s bankruptcy led to a run on money market mutual funds, made it impossible for corporations to raise capital, led to widespread layoffs across economic …
Film Piracy: Surfing The Internet For Free Content Provides Little Bounty For The Collective Economy, Jordan Matthews
Film Piracy: Surfing The Internet For Free Content Provides Little Bounty For The Collective Economy, Jordan Matthews
The Journal of Business, Entrepreneurship & the Law
This Note focuses on the protection of a copyright holder against infringement in the form of film piracy. It centers on the recent litigation surrounding Dallas Buyers Club, a biographical film articulating the life and events surrounding an AIDS patient, diagnosed in the mid-1980s, who pursued experimental treatments by smuggling pharmaceuticals into the United States. In 2013, more than 4,700 Australian Internet users allegedly downloaded the film within the span of one month. In August of 2015, an Australian federal court declared that the studio behind the film would need to post a $600,000 bond before it could send letters …
The Perfect Storm Is Brewing Once Again: What Scaling Back Dodd-Frank Will Mean For The Credit Default Swap, Daniel Isaacson
The Perfect Storm Is Brewing Once Again: What Scaling Back Dodd-Frank Will Mean For The Credit Default Swap, Daniel Isaacson
The Journal of Business, Entrepreneurship & the Law
The current presidential administration has expressed a concerted desire to “scale back” and even “get rid of” the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd–Frank). Focusing specifically on Dodd–Frank’s regulation of the credit default swap (CDS), this Article explores two timely queries. First, whether Dodd–Frank’s regulatory response to these financial instruments is a justifiable one, and second, what effect a repeal may have. This Article will show that the “perfect storm” CDS—which contributed so significantly to the 2007–2010 financial crisis—flourished in a regulatory environment that contained two key weaknesses: (1) few restrictions on excessive speculation; and (2) the …
A Tale Of Tulips: A Counterpoint To Courts Codifying Collectibles, Hunter S. Higgins
A Tale Of Tulips: A Counterpoint To Courts Codifying Collectibles, Hunter S. Higgins
The Journal of Business, Entrepreneurship & the Law
The goal of this Note is to educate the courts and public of the patent inconsistencies and latent implications of judicial interference in the art and collectibles market, as prosecutors, judges, and the public risk unraveling the delicate fabric of its legal and economic framework. Part II of the Note will closely examine the economics of the art and collectibles marketplace, from internal changes at the auction house to external changes in the global marketplace. In particular, the Note will examine the Asian marketplace, which has led the global expansion of art and collectibles, and the potential dangers of the …
Let The State Decide: The Efficient Antitrust Enforcer And The Avoidance Of Anticompetitive Remedies, Andrew J. Fuller
Let The State Decide: The Efficient Antitrust Enforcer And The Avoidance Of Anticompetitive Remedies, Andrew J. Fuller
The Journal of Business, Entrepreneurship & the Law
If the antitrust remedy a private party pursues would likely have anticompetitive consequences, would only the government constitute an efficient enforcer of the antitrust laws? Imagine that a plaintiff sues for a remedy so large that the award of the remedy would meaningfully increase market concentration by sending the defendants into bankruptcy. Is such a plaintiff an efficient enforcer of the antitrust laws? Should courts hold that in this situation only the government should be able to challenge the alleged conduct? These questions have gone unaddressed in academic literature because litigation rarely raises the specter of the anticompetitive remedy. Recently, …
Is The Ncaa Finally Loosening Its Iron Grip On College Basketball By Allowing Underclassmen The Opportunity To Return To College After Declaring For The Nba Draft?, Neil Patel
The Journal of Business, Entrepreneurship & the Law
The National Collegiate Athletic Association (NCAA) Oversight Committee has proposed a new rule that allows undergraduate college basketball players to reject the National Basketball Association (NBA) and return to school after they have submitted their name for the draft. This rule represents a great change in the policies that regulate college sports, specifically college basketball. The NCAA has ruled college basketball with an iron fist, but with this new proposal, it seems that it is beginning to help our college athletes sustain some semblance of a normal life after their playing days are over. Importantly, the rule is merely a …
The World Wide Web Extension: From Dot-Com To Dot ...Everything, Alexa Halloran
The World Wide Web Extension: From Dot-Com To Dot ...Everything, Alexa Halloran
The Journal of Business, Entrepreneurship & the Law
Today businesses are facing a new Internet dilemma. The Internet Corporation for Assigned Names and Numbers (ICANN) recently granted the public the opportunity to operate and register domain names under a plethora of generic domain extensions. Although no one knows exactly what this new program’s effect will be, the buzz around it informs business owners of a renewed need for innovation. And who is at the forefront of this new era of technology? Internet powerhouses like Google and Amazon, and worldwide investors are gambling on the success of this new program. Only one thing is certain, no company wants to …
To Be A "Whistleblower," Or Not To Be A "Whistleblower? " That Is The Question-Whether 'Tis Nobler In The Mind Of The Courts To Suffer For Reporting Wrongdoing To The Sec Or Employers Internally: Examining The Recent Circuit Split Regarding The Definition Of A Whistleblower Under Dodd-Frank, Luke I. Landers
The Journal of Business, Entrepreneurship & the Law
Under the current state of the law, the circuit courts are split over whether an employee must report corporate wrongdoing directly to the Securities and Exchange Commission (SEC), or report wrongdoing to a company’s management in order to receive whistleblower protection under Dodd–Frank. The resolution of this circuit split not only will have implications for American employees caught in situations similar to the fiction above, but also will provide a prime opportunity for the Supreme Court to clarify how courts are to understand the interpretive and deferential relationship between the language of legislative statutes and their corresponding bureaucratic regulations. In …
Online Lenders Shouldn't Get Mad Over Madden, Benjamin Lo
Online Lenders Shouldn't Get Mad Over Madden, Benjamin Lo
The Journal of Business, Entrepreneurship & the Law
The Second Circuit’s surprising decision in Madden v. Midland Funding caused consternation within the financial services industry. There, the Madden Court held that the National Bank Act’s pre-emption of state usury law did not apply to consumer debt sold by banks to third parties. Under the Second Circuit’s ruling, third-party buyers could not be certain of loan values, potentially making consumer finance markets less liquid. This decision immediately sparked concerns from the alternative finance industry, which worried that the secondary market for consumer debt would dry up and reduce consumer credit availability. It also alarmed financial technology startups such as …
Regulating Moral Hazard: The True Risk Of Dodd-Frank's Risk Retention Requirement, Ethan T. Mobley
Regulating Moral Hazard: The True Risk Of Dodd-Frank's Risk Retention Requirement, Ethan T. Mobley
The Journal of Business, Entrepreneurship & the Law
Dodd–Frank was implemented in response to the Great Recession as a means to curb abuses on Wall Street. The Act mandated broad reform of the financial system, and in particular, required regulators to promulgate rules controlling the complex structure of Asset-Backed Security (ABS). Dodd–Frank required securitizers to retain a portion of the credit risk associated with ABS. The goal was to curb moral hazard—the market failure commonly blamed for the Financial Crisis. However, there is reason to believe Dodd–Frank may “not adequately address” the moral hazard problem. In Part I, this Article will set forth the nuts and bolts of …
The Legal Aspects Of Portfolio Margining: A Move Toward The Lsoc Model, Christian Chamorro-Courtland
The Legal Aspects Of Portfolio Margining: A Move Toward The Lsoc Model, Christian Chamorro-Courtland
The Journal of Business, Entrepreneurship & the Law
This Article focuses on the legal aspects of “portfolio margining” in the United States and their potential for reducing costs and facilitating the management of collateral for the participants involved. First, this Article outlines the level of protection that customer “margin” deposits receive in clearing systems using a Central Counterparty (CCP). Second, it explains the process of portfolio margining from a legal perspective and discusses the benefits of adopting these arrangements. Thirdly, it argues that adopting the “Legal Segregation and Operationally Commingled Model” (LSOC Model) in the futures industry can facilitate the implementation of portfolio margining. Finally, the conclusion explains …
Clarifying The Original Clawback: Interpreting Sarbanes-Oxley Section 304 Through The Lens Of Dodd-Frank Section 954, J. Royce Fichtner, Patrick Heaston, Lou Ann Simpson
Clarifying The Original Clawback: Interpreting Sarbanes-Oxley Section 304 Through The Lens Of Dodd-Frank Section 954, J. Royce Fichtner, Patrick Heaston, Lou Ann Simpson
The Journal of Business, Entrepreneurship & the Law
In the early 2000s, major accounting scandals involving reporting violations and audit failures sent the United States financial markets into turmoil. Congress and President George W. Bush reacted to the controversy by passing the Public Company Accounting Reform and Investor Protection Act, better known as the Sarbanes–Oxley Act (SOX), in July of 2002. Section 304 created an explicit procedure, whereby the SEC could disgorge or clawback a CEO or CFO’s incentive-based compensation or stock gains when such profits were based on inflated financial statements later required to be restated to reflect the company’s true financial position. When the stock market …
Occupational Licensing: Quality Control Or Enterprise Killer? Problems That Arise When People Must Get The Government's Permission To Work, W. Sherman Rogers
Occupational Licensing: Quality Control Or Enterprise Killer? Problems That Arise When People Must Get The Government's Permission To Work, W. Sherman Rogers
The Journal of Business, Entrepreneurship & the Law
This Article is organized into six parts: Part one (the current section) provides the reader with an introduction and overview of the issues that have arisen because of states’ ever-expanding regulation of occupations requiring qualifications and credentials for holding certain jobs. Such qualifications often appear totally unnecessary to one’s ability to safely and competently perform a job. Part two provides background information on the Lochner Era of Supreme Court jurisprudence, the aftermath of the Lochner Era, and a brief history of the issues involved in state occupational licensing requirements. Part three discusses and evaluates recent cases of note—primarily the decisions …
Burwell V. Hobby Lobby Stores, Inc.: Creating Power For Corporations At The Cost Of Changing Women’S Lives, Tara Zabehi
Burwell V. Hobby Lobby Stores, Inc.: Creating Power For Corporations At The Cost Of Changing Women’S Lives, Tara Zabehi
The Journal of Business, Entrepreneurship & the Law
No abstract provided.