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The Dog That Didn't Bark: Private Investment Funds And Relational Contracts In The Wake Of The Great Recession, Robert Illig Jul 2012

The Dog That Didn't Bark: Private Investment Funds And Relational Contracts In The Wake Of The Great Recession, Robert Illig

Robert C Illig

In the aftermath of the subprime mortgage crisis, the contract rights of numerous hedge funds and venture capital funds were breached. These contracts were complex and sophisticated and had been negotiated at great time and expense. Yet despite all of the assumptions of neo-classical contracts theory, nothing happened. Practically none of these injured parties sued to enforce their rights. Professor Illig uses this dearth of litigation to conduct a form of natural experiment as to the value of contract law. Discrete market participants contracted before the crash and then pursued their rights in court afterwards, while relational market participants contracted …


A Business Lawyer's Bibliography: Books Every Dealmaker Should Read, Robert C. Illig Apr 2012

A Business Lawyer's Bibliography: Books Every Dealmaker Should Read, Robert C. Illig

Robert C Illig

To become a truly great business lawyer, one must not only master legal analysis and deal execution. One must attain a command of context. Attorneys are more than mere “transaction cost engineers.” We are counselors – purveyors of judgment, caution and insight. But how best to cultivate such expertise? Wisdom is the reward of experience, and requires time to develop. How, then, can the young lawyer hasten her education and achieve an understanding beyond her years? And what of the seasoned professional who lacks expertise in a particular field? How is she to obtain a broader familiarity without re-living her …


Hedge Funds: The Missing Link In Executive Pay Reform, Robert Illig Aug 2009

Hedge Funds: The Missing Link In Executive Pay Reform, Robert Illig

Robert C Illig

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