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Articles 61 - 87 of 87
Full-Text Articles in Banking and Finance Law
Diversity And The Boardroom, Steven A. Ramirez
Diversity And The Boardroom, Steven A. Ramirez
Faculty Publications & Other Works
No abstract provided.
The International Symposium On Derivatives And Risk Management, Carl Felsenfeld, Alan N. Rechtschaffen, Carolyn H. Jackson, Ruth W. Ainslie, Michael N. Brosnan, Darcy Bradbury, Denis M. Forster, Martin Bienenstock, David A.P. Brower, Aaron Rubinstein, David Morris, Eric Seiler, Peter D. Morgenstern, Michael J. Malone, John Lovi, Alvin K. Hellerstein, Charles E. Ramos
The International Symposium On Derivatives And Risk Management, Carl Felsenfeld, Alan N. Rechtschaffen, Carolyn H. Jackson, Ruth W. Ainslie, Michael N. Brosnan, Darcy Bradbury, Denis M. Forster, Martin Bienenstock, David A.P. Brower, Aaron Rubinstein, David Morris, Eric Seiler, Peter D. Morgenstern, Michael J. Malone, John Lovi, Alvin K. Hellerstein, Charles E. Ramos
Fordham Journal of Corporate & Financial Law
No abstract provided.
Insolvent Bank’S Irrevocable Credit As Priority Payment Instrument: Barclays Bank V. Price Waterhouse, Benjamin Geva
Insolvent Bank’S Irrevocable Credit As Priority Payment Instrument: Barclays Bank V. Price Waterhouse, Benjamin Geva
Articles & Book Chapters
No abstract provided.
Structuring The Financial Service Conglomerates Of The Future: Does The Choice Of Corporate Form To House New Financial Activities Of National Banks Matter?, Constance Z. Wagner
Structuring The Financial Service Conglomerates Of The Future: Does The Choice Of Corporate Form To House New Financial Activities Of National Banks Matter?, Constance Z. Wagner
All Faculty Scholarship
The Gramm-Leach-Bliley Act became law on November 12, 1999, bringing to an end a twenty year effort to expand bank powers by amending the Glass-Steagall Act and the Bank Holding Company Act of 1956. Although styled as banking reform legislation, the new law will have a wide ranging impact on the financial services industry generally. A wave of merger activity will likely occur in this industry because many of the legal restrictions on bank affiliations with other financial services providers have been removed. An end result of the new legislation will be the creation of financial services conglomerates offering a …
The Role Of Letters Of Credit In Payment Transactions, Ronald J. Mann
The Role Of Letters Of Credit In Payment Transactions, Ronald J. Mann
Michigan Law Review
Common justifications for the use of the letter of credit fail to explain its widespread use. The classic explanation claims that the letter of credit provides an effective assurance of payment from a financially responsible third party. In that story, the seller - a Taiwanese clothing manufacturer, for example - fears that the overseas buyer - Wal-Mart - will refuse to pay once the goods have been shipped. Cross-border transactions magnify the concern, because the difficulties of litigating in a distant forum will hinder the manufacturer's efforts to force the distant buyer to pay. The manufacturer-seller solves that problem by …
Letters Of Credit As Signals: Comments On Ronald Mann's 'The Role Of Letters Of Credit In Payment Transactions', Clayton P. Gillette
Letters Of Credit As Signals: Comments On Ronald Mann's 'The Role Of Letters Of Credit In Payment Transactions', Clayton P. Gillette
Michigan Law Review
Why would buyers and sellers transact with each other through a third party that charges a significant fee for its services and that typically is authorized to make payment notwithstanding noncompliance with the very prerequisites that it has been engaged to monitor? This is the puzzle that Ronald Mann's provocative and nuanced article purports to explain. Under the traditional story about the esoteric world of letters of credit, these transactions allow distant buyers and sellers to circumvent obstacles that would otherwise frustrate long-distance transactions. The traditional story explains that these credits induce buyers to approve payment prior to receiving conforming …
Reconciling The Old Theory And The New Evidence: Comments On Ronald Mann's 'The Role Of Letters Of Credit In Payment Transactions', Jacob I. Corré
Reconciling The Old Theory And The New Evidence: Comments On Ronald Mann's 'The Role Of Letters Of Credit In Payment Transactions', Jacob I. Corré
Michigan Law Review
Ronald Mann's thorough research and rigorous analysis provide compelling evidence that the commercial letter of credit does not further the fundamental purpose traditionally associated with it. Equally persuasive are his hypotheses about the functions that letters of credit actually serve in the real world. The objective statistics are startling. An overwhelming majority of letter of credit seller-beneficiaries make at least initial presentations to issuing or correspondent banks that by the express terms of the letter of credit do not entitle the seller to payment. Without a waiver from its customer, the issuing bank is legally entitled to, and surely will …
Informality As A Bilateral Assurance Mechanism: Comments On Ronald Mann's 'The Role Of Letters Of Credit In Payment Transactions', Avery Wiener Katz
Informality As A Bilateral Assurance Mechanism: Comments On Ronald Mann's 'The Role Of Letters Of Credit In Payment Transactions', Avery Wiener Katz
Michigan Law Review
Ronald Mann's study of documentary defects in the presentation of commercial letters of credit is a valuable contribution to the commercial law literature in at least three respects. First, it offers a detailed and thorough empirical survey of an important though specialized aspect of commercial practice. Mann collected and coded a data sample of 500 randomly selected letter-of-credit transactions, personally evaluating each transaction to determine whether the documentary presentation by the beneficiary of the letter of credit (i.e., the seller) complied with the letter's formal terms. Then, for each case in which he found one or more documentary defects, Mann …
Will Exploding Guaranties Bomb?, Marshall E. Tracht
Will Exploding Guaranties Bomb?, Marshall E. Tracht
Articles & Chapters
Springing and exploding guaranties - insider guaranties that will become due ifand when a borrower files for bankruptcy - have become popular as "bankruptcy-proofing" devices, yet there is little case law or literature on their enforceability. This article reviews the limited existing law on these bankruptcy-contingent guaranties and examines some of the arguments against their enforceabiltiy that can be expected to be made in the future.
Securitizing Insurance Risks, Tamar Frankel, Joseph W. Laplume
Securitizing Insurance Risks, Tamar Frankel, Joseph W. Laplume
Faculty Scholarship
This Article analyzes and evaluates the legal problems that have arisen in connection with this rapidly developing insurance risk securitization. The first part of the Article deals with legal issues concerning the SPVs that undertake insurance and reinsurance contracts with ceding insurers and the other parties to the transaction. The Article addresses the dilemma in choosing the laws applicable to SPVs, the bonds they issue, and the persons and entities that form part of the securitization transaction. These laws involve state insurance laws, bankruptcy and tax laws, the Investment Company Act of 1940 and the Commodity Exchange Act of 1934, …
Laws Governing Bank Securities Activities In The United States, Hanning Zhang
Laws Governing Bank Securities Activities In The United States, Hanning Zhang
LLM Theses and Essays
This thesis analyzes the previous regulatory approach to bank investment activities in the United States and its effects on the banking industry, discusses regulatory changes that expanded banking powers, reviews the new legislation and potential problems in the current movement of financial reform, and suggests some solutions. Chapter II reviews previous statutory regimes on bank securities activities, including those separating traditional and investment banking under the Glass-Steagall Act and Bank Holding Company Act. The regulatory regime under the E.U. banking system is addressed to give an example of successful deregulation, by which universal banks may fully enjoy the rapid changing …
The Use Of Intellectual Property As Collateral: Gap In The Perfection Of A Security Interest, Sofia Benammar
The Use Of Intellectual Property As Collateral: Gap In The Perfection Of A Security Interest, Sofia Benammar
LLM Theses and Essays
The purpose of the present thesis is to let French lawyers know which step they need to take in order to best assist their client in securing a more solid investment. Lenders want to be protected. Lenders want to be sure that they can use the intellectual property rights in a commercial environment free from superior claims by third parties. In other words, a lender who provides a large loan to a borrower wants to know how and where its security interest will be perfected and what is the best way for him to have priority over other claims. This …
The Legal Regulation Of Hedge Funds In The United States Long-Term Capital Management Episode, Jong Cheol Park
The Legal Regulation Of Hedge Funds In The United States Long-Term Capital Management Episode, Jong Cheol Park
LLM Theses and Essays
Mutual funds and hedge funds are popular forms of investment in the United States and throughout the world. Mutual funds are regulated by securities' regulators in the United States. Hedge funds, however, are not regulated because of their operational flexibility in investment. U.S. regulators are concerned that if they regulate hedge funds, hedge funds will, along with their economic benefits, emigrate to offshore havens. However, if we consider the importance of the American financial markets in the world, this idea can be dismissed. Due to globalization in the capital markets, small events in the United States can have large effects …
Is Hedge Fund Regulation Necessary?, Willa E. Gibson
Is Hedge Fund Regulation Necessary?, Willa E. Gibson
Akron Law Faculty Publications
The financial collapse of Long Term Capital Management, L.P., has led federal regulators and financial regulators to question whether additional regulatory constraints on a hedge fund's use of leverage are necessary to protect against financial market disruption. This Article discusses whether additional regulation is needed to protect against the possibility of systemic loss triggered by a hedge fund's excessive use of leverage. After reviewing the existing federal regulations to which hedge funds are potentially subject, this article concludes that private market regulation, through the exercise of more diligent market discipline by both hedge funds and those entities that extend credit …
E-Business, E-Commerce & The Law, John F. Rudin
E-Business, E-Commerce & The Law, John F. Rudin
Richmond Journal of Law & Technology
Advocates argue that UCITA (Uniform Computer Information Transactions Act) provides rules of the road for the technology highway much like the Uniform Commercial Code (UCC) has done with our commerce system for several decades. However, the UCC provides a level playing field where businesses and customers are aware of the rules prior to conducting business. Among its many shortcomings, UCITA lacks the notice and disclosure features of the UCC. A simple double click of a mouse with the cursor on an icon that reads "I accept" binds the customer to a contract that has not been reviewed prior to purchase. …
Emu And The Role Of The National Central Banks In The Eurosystem, J. Alfred Broaddus Jr.
Emu And The Role Of The National Central Banks In The Eurosystem, J. Alfred Broaddus Jr.
Richmond Journal of Global Law & Business
J. Alfred Broaddus, Jr.'s comments at Davidson regarding the EMU and the role of the National Central Banks in the Eurosystem.
An Evaluation On Project Financing Under Islamic Banking, Sugunadevi Arjunan
An Evaluation On Project Financing Under Islamic Banking, Sugunadevi Arjunan
Student Works (2000-2009)
Although Islamic banking has been in operation fo r more than a decade in Malaysia, it's market share and growth seem to be quite limited and fa ll far short of earlier projection. This study attempts to investigate one type of Islamic banking product, that is project financing. The objectives of the study are to assess the current level of Islamic project financing and its associated growth, to identify problems faced in the implementation of Islamic project financing under the Mudharabah and Musyarakah concepts and to demonstrate with a real life case study the costs of financing under Islamic banking …
Peranan Sekuriti Hutang Islam (Ids) Dalam Pasaran Modal Di Malaysia, Asmak Ab. Rahman
Peranan Sekuriti Hutang Islam (Ids) Dalam Pasaran Modal Di Malaysia, Asmak Ab. Rahman
Student Works (2000-2009)
This research is a comparative study of debt securities in the capital market which play a vital role in economic development. The aim of the study is to highlight the roles of Islamic debt securities or lsamic bond in Malaysian capital market which could be operationalized as an alternative to the conventional debt securities. The former operates in accordance with legal principles of Islamic commercial law such as bay' af-murabahah and bay' al-dayn. The study concludes that Islamic debt securities have an Islamic task as an alternative in the development of capital market in Malaysia.
The Role Of Letters Of Credit In Payment Transactions, Ronald J. Mann
The Role Of Letters Of Credit In Payment Transactions, Ronald J. Mann
Faculty Scholarship
Common justifications for the use of the letter of credit fail to explain its widespread use. The classic explanation claims that the letter of credit provides an effective assurance of payment from a financially responsible third party. In that story, the seller – a Taiwanese clothing manufacturer, for example – fears that the overseas buyer – Wal-Mart – will refuse to pay once the goods have been shipped. Cross-border transactions magnify the concern, because the difficulties of litigating in a distant forum will hinder the manufacturer's efforts to force the distant buyer to pay. The manufacturer-seller solves that problem by …
New York Metropolitan Area Lending Scorecard: 1998, Richard D. Marsico
New York Metropolitan Area Lending Scorecard: 1998, Richard D. Marsico
Articles & Chapters
No abstract provided.
Transparency And Accountability: Rethinking Corporate Fiduciary Law's Relevance To Disclosure, Faith Stevelman
Transparency And Accountability: Rethinking Corporate Fiduciary Law's Relevance To Disclosure, Faith Stevelman
Articles & Chapters
This article explores the duty of “disclosure/complete candor” (among directors, from boards to shareholders and from controllers to minority shareholders) within state corporate fiduciary law (especially Delaware’s, the most developed). It observes the odd minimization of the candor/disclosure duty within the core doctrines of fiduciary care, loyalty and good faith. It analyzes the evolution of the fiduciary disclosure duty and its “moment of truth” in the watershed litigation in Malone v. Brincat. The belated appearance of the fiduciary disclosure duty is partly the result of historical, customary and political understandings which have dwarfed logic and conceptual coherence in this area …
United States -- Tax Treatment For "Foreign Sales Corporations" Wto Doc. Wt/Ds108/Ab/R, Stanley I. Langbein
United States -- Tax Treatment For "Foreign Sales Corporations" Wto Doc. Wt/Ds108/Ab/R, Stanley I. Langbein
Articles
No abstract provided.
The Hollywood Shuffle: Protecting Film Investors, Mark Litwak
The Hollywood Shuffle: Protecting Film Investors, Mark Litwak
Vanderbilt Journal of Entertainment & Technology Law
In Los Angeles, the city of a thousand stories, many tales are told by financiers who complain they have been cheated by producers or distributors. As would be expected in any industry grossing about seven billion dollars annually at the domestic box office, the movie business attracts more than its fair share of disreputable characters. The glamour of the business ensures a steady stream of star-struck investors motivated by non-financial concerns. This combination of the unsavory and inexperienced often produces hand-shake deals made without the proper investigation and due diligence. Consequently, experienced investors often refuse to even consider film-related investments. …
Delaware As Demon: Twenty-Five Years After Professor Cary's Polemic, Mark J. Lowenstein
Delaware As Demon: Twenty-Five Years After Professor Cary's Polemic, Mark J. Lowenstein
University of Colorado Law Review
No abstract provided.
Corporate Finance, Corporate Law And Finance Theory, Peter H. Huang, Michael S. Knoll
Corporate Finance, Corporate Law And Finance Theory, Peter H. Huang, Michael S. Knoll
Publications
No abstract provided.
A Normative Analysis Of New Financially Engineered Derivatives, Peter H. Huang
A Normative Analysis Of New Financially Engineered Derivatives, Peter H. Huang
Publications
This Article analyzes whether the introduction of new derivative assets makes a society better or worse off. Because trading such non-redundant derivatives produces new distributions of income across time and over possible future contingencies, individuals can utilize such financial instruments to hedge risks not possible before the introduction of these assets. Thus, it may seem that new derivatives unambiguously benefit society. In fact, introducing sufficiently many new derivatives completes asset markets. Asset markets are complete if trading on them can attain every possible payoff pattern of wealth across time and over possible future contingencies. The first fundamental theorem of welfare …
Teaching Corporate Law From An Option Perspective, Peter H. Huang
Teaching Corporate Law From An Option Perspective, Peter H. Huang
Publications
No abstract provided.