Business Organizations Law Commons^™

Recent Market Events And The Foundation For Global Market Crises: The Experience Of Republic National Bank, Walter H. Weiner

Fordham Journal of Corporate & Financial Law

No abstract provided.

Banking Supervision And Government Policy: The Role Of Regulators In International Financial Reform, William Murden

Fordham Journal of Corporate & Financial Law

No abstract provided.

Banking Supervision And Government Policy: Intermediation In Today's Financial Markets, Dr. John Kambhu

Fordham Journal of Corporate & Financial Law

No abstract provided.

Recent Market Events And The Foundation For Global Market Crises: A Lawyer's Perspective, Philip H. Harris

Fordham Journal of Corporate & Financial Law

No abstract provided.

Banking Supervision And Government Policy: Capital Standards Regulation, James V. Houpt

Fordham Journal of Corporate & Financial Law

No abstract provided.

Pillars Of Civilization: Attorneys And Arbitration, Robert S. Clemente, Karen Kupersmith

Fordham Journal of Corporate & Financial Law

No abstract provided.

State Comparative Chart Llc And Llp Statutes, James J. Wheaton

William & Mary Annual Tax Conference

No abstract provided.

Square Pegs In Round Holes: Llcs Under Other Statutes, James J. Wheaton

William & Mary Annual Tax Conference

No abstract provided.

Transatlantic Misunderstandings: Corporate Law And Societies, Caroline Bradley

University of Miami Law Review

No abstract provided.

Stability In World Financial Markets: Introductory Remarks, Alan Rechtschaffen

Fordham Journal of Corporate & Financial Law

No abstract provided.

Reflections On Exchange Rates And Dollarization, Steve Hanke

Fordham Journal of Corporate & Financial Law

No abstract provided.

Corporate Governance Reform In Russia: The Effectiveness Of The 1996 Russian Company Law, Gregory Wolk

Washington International Law Journal

During Post-Soviet privatization, widespread abuses of power in Russian corporations contributed to the economic malaise in that country. These abuses are attributed to the domination of firms by senior management. In January 1996, the Russian Company Law went into effect with very strong protections for minority shareholders as a means to curb these abuses. This Comment analyzes the effectiveness of the Russian Company Law in this regard over the past three years. It concludes that the law has been moderately successful given the extremely hostile conditions at the time of enactment, and thus, it is a model for other transitional …

Corporate Control: A Comparative Examination Of Corporate Law In Canada And The People's Republic Of China, Qin Zhao

LLM Theses

This thesis examines the concept of corporate control in Canadian and Chinese business enterprises. Going beyond traditional studies of corporate governance, which are concerned principally with the relationship between shareholders and corporate managers, this thesis explores the ways in which corporate law in China and in Canada regulates and arbitrates the relationships among all corporate participants, in the context of the political, social, economic and cultural milieu in which corporate law and policy in both countries has evolved. Through a comparative examination of corporate control issues under two specific corporate law regimes--that of the Canada Business Corporations Act (CBCA), and …

The Three-Legged Stool Of Corporate Governance Reform, Jayne W. Barnard

Popular Media

No abstract provided.

Directors' Duty Of Care To Monitor Information Systems In Hmos: Some Lessons From The Oxford Health Plan, Mary E. O'Byrne

Journal of Law and Health

Given this scale of investment, the centrality of information systems to the success of an HMO, the obligation of regulatory compliance, plus the attention now focused on the year 2000 "millenium bug" problem, information systems are clearly a major area of concern and oversight by corporate directors. This paper analyzes the role of information systems in HMOs and the nature of the HMO directors' duty of care in monitoring the integrity of the information systems to determine when directors may be held personally liable for losses suffered by the corporation when the systems collapse. Section I addresses in general the …

Shareholder Derivative Litigation And Corporate Governance, Mark J. Loewenstein

Publications

In approving settlements of derivative actions that include fees for plaintiff's attorney, courts typically announce that attorney's fees are approved if a substantial benefit is obtained. In fact, courts, particularly Delaware courts, approve settlements in shareholder derivative actions that included substantial fees for plaintiff's attorney, despite the absence of a corresponding benefit to the corporation. Frequently, the "benefit" obtained is a reform in corporate governance, which is of dubious value to the corporation. To deter frivolous litigation, courts should resist the temptation to approve these settlements just to dispose of the litigation. The paper concludes that fees should not be …

Corporate Officer And Director Liability: Atherton V. Federal Deposit Insurance Corporation: A Final Resolution Of The Issues Surrounding Section 1821(K) Of Firrea, Tiffany Z. Stuart

Oklahoma Law Review

No abstract provided.

Cross-Border Bank Branching Under The Nafta: Public Choice And The Law Of Corporate Groups, Eric J. Gouvin

Faculty Scholarship

This Article examines a question left unresolved after the negotiation of the North American Free Trade Agreement (NAFTA): whether the banks of the member countries should be permitted to engage in the business of banking in the other member countries simply by branching across national borders. Under present law, the United States permits branching subject to extensive restrictions, while Canada and Mexico permit access to their banking markets only by acquisition or establishment of institutions chartered in their countries. While the NAFTA does not provide for unfettered branching across national borders, article 1403(3) of the NAFTA left the issue of …

From Special Privilege To General Utility: A Continuation Of Willard Hurst's Study Of Corporations, Susan Pace Hamill

American University Law Review

No abstract provided.

A World Wide Web Of Potential Franchise Law Violations, Michael J. Lockerby

Richmond Journal of Law & Technology

Franchising -- whereby independent entrepreneurs are licensed to provide goods and services of uniform quality (hopefully) under their licensor's trademarks -- has long been the predominant method of distributing goods and services in the U.S. Time will tell how many suppliers use the Internet to "cut out the middleman", and instead, sell goods and services directly to the ultimate consumer. While franchising so far appears to be safe from the Internet, the Internet may not be safe from franchising -- or, perhaps more accurately, from the world wide web of laws that govern franchising. The explosive growth of Internet commerce …

Liberty And Antitrust In The Formative Era, Alan J. Meese

Faculty Publications

No abstract provided.

Why The Law Hates Speculators: Regulation And Private Ordering In The Market For Otc Derivatives, Lynn A. Stout

Cornell Law Faculty Publications

A wide variety of statutory and common law doctrines in American law evidence hostility towards speculation. Conventional economic theory, however, generally views speculation as an efficient form of trading that shifts risk to those who can bear it most easily and improves the accuracy of market prices. This Article reconciles the apparent conflict between legal tradition and economic theory by explaining why some forms of speculative trading may be inefficient. It presents a heterogeneous expectations model of speculative trading that offers important insights into antispeculation laws in general, and the ongoing debate concerning over-the-counter (OTC) derivatives in particular.

Although trading …

Corporate-Family Conflicts, Charles W. Wolfram

Cornell Law Faculty Publications

Preface: Symposium On Corporate Groups, Phillip Blumberg

Faculty Articles and Papers

No abstract provided.

The Constitution And The Cathedral: Prohibiting, Purchasing, And Possibly Condemning Tobacco Advertising, Thomas W. Merrill

Faculty Scholarship

This Article has both theoretical and practical objectives, which are closely interrelated. The theoretical objective is to develop a framework for understanding the "transaction structure" of constitutional rights. By this, I refer to the different rules that determine when the government may purchase, condemn, or otherwise extinguish constitutional rights. The practical objective is to consider different options that may be available to the government, as part of a broader effort to reduce the incidence of smoking, to curtail tobacco advertising that would otherwise be protected under the First Amendment. It is my hope that the theoretical framework will illuminate the …

The Future As History: The Prospects For Global Convergence In Corporate Governance And Its Implications, John C. Coffee Jr.

Faculty Scholarship

What forces explain corporate structure and shareholder behavior? For decades this question has gone unasked, as both corporate law scholars and practitioners tacitly accepted the answer given in 1932 by Adolf Berle and Gardiner Means that the separation of ownership and control stemming from ownership fragmentation explained and assured shareholder passivity. Over this decade, however, corporate law scholars have recognized that this standard answer begs an essential prior question: if ownership fragmentation explains shareholder passivity, what explains ownership fragmentation? Although the Berle and Means model assumed that large-scale enterprises could raise sufficient capital to conduct their operations only by attracting …

An Economic Analysis Of The Guaranty Contract, Avery W. Katz

Faculty Scholarship

Guaranty arrangements, in which one person stands as surety for a second person's obligation to a third, are ubiquitous in commercial transactions and in commercial law. In recent years, however, scholarly attention to the topic has been scant; and no one has systematically analyzed this body of law and practice from an economic policy perspective. Accordingly, this Article attempts to outline the basic economic logic underlying the guaranty relationship, and applies the results to a variety of specific issues in government policy and private planning. It poses and answers three main questions: First, why would a creditor prefer to make …

Privatization And Corporate Governance: The Lessons From Securities Market Failure, John C. Coffee Jr.

Faculty Scholarship

Should privatization be "fast" or "slow"? Should policymakers adopt a "Damn the torpedoes, full speed ahead" approach that accepts the inevitability of some overreaching by controlling shareholders, but justifies this cost as necessary to realize and expedite the efficiency gains incident to privatization? Or should privatization proceed more cautiously because of the risks of market failure and political corruption that may result when control seekers are tempted to bribe and seduce the judicial and regulatory systems to achieve the private benefit of control? These tempting private benefits arise, of course, precisely to the extent that privatization preceded the creation of …

Lessons From Fiascos In Russian Corporate Governance, Merritt B. Fox, Michael Heller

Faculty Scholarship

Bad corporate governance is often invoked to explain poor enterprise performance, but the catch phrase is never precisely defined. Neither its consequences for the real economy, nor its causes in particular countries has been adequately explained. This paper uses Russian enterprise examples to address these open questions in corporate governance theory. We define corporate governance by looking to the economic functions of the firm rather than to any particular set of national corporate laws. Firms exhibit good corporate governance when their managers maximize residuals and, in the case of investor-owned firms, make pro rata distributions to shareholders.

Using this definition, …

Taking The "I" Out Of "Team": Intra-Firm Monitoring And The Content Of Fiduciary Duties, Eric L. Talley

Faculty Scholarship

Depending on whom one asks, the last decades' proliferation of statutory business structures is a cause for either celebration or concern. Some laud this recent trend, arguing that a highly permutated menu of tax treatments, liability limitations, and governance hierarchies facilitates the alignment of legal status with organizational need. Others view statutory variety more skeptically, warning that it may simply portend greater cost externalization, strategic behavior, and distributional inequity. But one set of legal doctrines has persisted throughout: the concept of fiduciary duty. Indeed, fiduciary obligations remain fundamental to the legal governance structure of virtually every statutory business entity.

That …