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Articles 361 - 390 of 624

Full-Text Articles in International Law

The Market Tort In Private International Law, Michael J. Whincop, Mary Keyes Jan 1999

The Market Tort In Private International Law, Michael J. Whincop, Mary Keyes

Northwestern Journal of International Law & Business

Perhaps the most troublesome of all choice of law questions arises when a plaintiff asserts a cause of action for injuries arising from a contractual exchange entered in a market situation. This description embraces some of the most important case types in modern litigation: products liability, securities litigation, industrial accidents, medical negligence, and so on. Outside of private international law cases, these have represented the battlefields of recent tort "crises" and subsequent reforms. We shall refer to these cases as "market torts" . They represent the principal subject of analysis in this work. The rules that should apply where a …


Attorney Fee Arrangements: The U.S. And Western Perspectives, Virginia G. Maurer, Robert E. Thomas, Pamela A. Debooth Jan 1999

Attorney Fee Arrangements: The U.S. And Western Perspectives, Virginia G. Maurer, Robert E. Thomas, Pamela A. Debooth

Northwestern Journal of International Law & Business

This article develops an analytical framework for viewing the rules on attorney fee arrangements that have been adopted in the United States and in major western European countries. In section II the paper explains the choice of economic agency theory as a starting point for developing this framework. Within the meaning of economic agency, the attorney is a dual agent, with duties to both the client and the judicial system. In section III the paper identifies five interests that form the basis for evaluating fee systems. These interests are derived from applying basic agency theory to the duties of the …


New Transfer Pricing Rules In Brazil, Alexandre Tadeu Seguim Jan 1999

New Transfer Pricing Rules In Brazil, Alexandre Tadeu Seguim

Northwestern Journal of International Law & Business

Through transfer price, the organization aims to evaluate and improve the performance of the related entity. The idea that transfer pricing is a mechanism designed only to avoid taxes is misleading. Actually, to transfer price is a sound and positive way to increase value. The 1979 OECD Report on Transfer Pricing and Multinational Enterprises emphasized that the term is neutral: "the consideration of transfer pricing problems should not be confused with the consideration of problems of tax fraud or tax avoidance, even though transfer pricing policies may be used for such purposes." The 1995 OECD Report went even further by …


Network Industries, Third Party Access And Competition Law In The European Union, Carlos Lapuerta, Boaz Moselle Jan 1999

Network Industries, Third Party Access And Competition Law In The European Union, Carlos Lapuerta, Boaz Moselle

Northwestern Journal of International Law & Business

This article addresses a set of issues that arise in the context of market liberalization for a special and important class of industries, the so-called "network industries," which include electricity, natural gas, rail transportation and telecommunications. Each of these industries combines activities that are potentially competitive, such as generation of electricity, with ones that are naturally monopolistic, such as transmission of electricity. This combination produces a unique set of challenges to competition law and policy in designing a market structure and regulatory framework which maximize the benefits of liberalization while effectively controlling any tendencies to monopolistic abuse. We analyze "Chicago …


A Critique Of Light-Handed Regulation: The Case Of British Gas February 1999, Paul Carpenter, Carlos Lapuerta Jan 1999

A Critique Of Light-Handed Regulation: The Case Of British Gas February 1999, Paul Carpenter, Carlos Lapuerta

Northwestern Journal of International Law & Business

Although attractive in theory, the implementation of light-handed regulation in the United Kingdom has faced several problems. First, light-handed regulation has not worked as anticipated to avoid the need for lengthy regulatory proceedings. Second, light-handed regulation has unintentionally created inefficient incentives for regulated companies. Third, light-handed regulation has not successfully constrained the monopoly power of incumbents. We illustrate the problems with light-handed regulation principally by reference to the experience of British Gas. The British government established the Office of Gas Regulation, known as Ofgas, to regulate British Gas after its privatization. However, Ofgas was not able to set reasonable prices …


Renegotiating Previous Governments' Privatization Deals: The 1997 U.K. Windfall Tax On Utilities And International Law, Thomas W. Waelde, Abba Kolo Jan 1999

Renegotiating Previous Governments' Privatization Deals: The 1997 U.K. Windfall Tax On Utilities And International Law, Thomas W. Waelde, Abba Kolo

Northwestern Journal of International Law & Business

Investment in privatized utilities leads to a very particular form of political risk--the risk that regulatory conditions change and special taxes are imposed, all measures within the sovereign powers of the state. The normal forms of protection against political risk (investment insurance, stabilization clauses, international investment treaties and international arbitration clauses) have not yet caught up with the emergence of new forms of political risk. The 1997 UK windfall tax announced by the Chancellor of the Exchequer in that year's budget speech is a case in point. This issue is not limited purely to the contemporary UK situation, but illustrates …


Fasb V. Iasc: Are The Structure And Standard Setting Process At The Iasc Adequate For The Securities And Exchange Commission To Accept International Accounting Standards For Cross-Border Offerings? , Charles Canfield Jan 1999

Fasb V. Iasc: Are The Structure And Standard Setting Process At The Iasc Adequate For The Securities And Exchange Commission To Accept International Accounting Standards For Cross-Border Offerings? , Charles Canfield

Northwestern Journal of International Law & Business

This comment compares and contrasts the IASC's structure and stan- dard setting process with the structure and process for promulgating ac- counting standards of the Financial Accounting Standards Board ("FASB"), the standard setter for the United States. The purpose of this comparison is to determine whether or not the IASC's structure and process for standard development are adequate for the development of acceptable core standards. This comparison uses FASB, not for the purpose of imposing FASB as the standard setter for the world, but for the purpose of comparing the IASC with an established long-standing standard setter, and because the …


Selecting A Corporate Form: Foreign Direct Investment In Vietnam's Oil And Gas Industry Under The 1995 Land Law, Magali Matarazzi Jan 1999

Selecting A Corporate Form: Foreign Direct Investment In Vietnam's Oil And Gas Industry Under The 1995 Land Law, Magali Matarazzi

Northwestern Journal of International Law & Business

Foreign investment in Vietnam by U.S. investors has been controversial since the termination of the Vietnam War. Originally, there were political considerations. The idea of conducting business with a socialist government, that was an enemy in the recent past, was antithetical to the U.S. Congress and population. The trade embargo imposed on Vietnam was a reflection of this sentiment. In the meantime other nations were willing to negotiate with the new government because business considerations out-weighed political ideals. Vietnam proved to be a wealth of natural resources, most notably oil and gas reserves. There was also speculation that Vietnam's economy …


Integration Of International Financial Regulatory Standards For The Chinese Economic Area: The Challenge For China, Hong Kong, And Taiwan, Lawrence L.C. Lee Jan 1999

Integration Of International Financial Regulatory Standards For The Chinese Economic Area: The Challenge For China, Hong Kong, And Taiwan, Lawrence L.C. Lee

Northwestern Journal of International Law & Business

This article initially reviews the current development of financial services that converge regulatory systems around the world. Along with focusing on banking and securities, this article assesses financial systems and regulators within China, Hong Kong, and Taiwan respectively. The evaluation of the CEA's financial system is based on recommendations issued by the Basle Committee. In addition, with respect to the principle of national treatment, this article evaluates the operations of foreign financial institutions in the CEA. In the future, participation in the WTO will enable the CEA to experience greater growth and increase its participation in the internationalization of financial …


The Parameters Of The Attorney-Client Privilege For In-House Counsel At The International Level: Protecting The Company's Confidential Information, Joseph Pratt Jan 1999

The Parameters Of The Attorney-Client Privilege For In-House Counsel At The International Level: Protecting The Company's Confidential Information, Joseph Pratt

Northwestern Journal of International Law & Business

The gaps in the privilege at the international level present a major problem for general counsel. In the worst case scenario, the company's own legal opinions could be used against it by a foreign tribunal. To reduce this risk, general counsel at multinationals should become familiar with the parameters of the attorney-client privilege at the international level and use this knowledge to devise strategies to protect the corporation's sensitive information in foreign jurisdictions. Part II of this comment begins by describing the roots of the modem attorney-client privilege in the United States and its extension to in-house counsel. This section …


Litigating Claims Over Foreign Government-Owned Corporations Under The Commercial Activities Exception To The Foreign Sovereign Immunities Act, Sunil R. Harjani Jan 1999

Litigating Claims Over Foreign Government-Owned Corporations Under The Commercial Activities Exception To The Foreign Sovereign Immunities Act, Sunil R. Harjani

Northwestern Journal of International Law & Business

First, this article will examine the way courts have dealt with suits against FGOCs claiming immunity under the FSIA. Second, this article will argue that obtaining jurisdiction over a FGOC has become relatively easy under the FSIA due to the way courts have applied the commercial activities exception in recent decisions. Third, this article will suggest methods for United States and foreign businesses to avoid difficulties in obtaining jurisdiction over FGOCs. Finally, this article will advocate that FGOCs should no longer be provided sovereign immunity under U.S. law.


Restrictive Trade Practices And The Extraterritorial Application Of U.S. Antitrust And Trade Legislation, Mark A.A. Warner Jan 1999

Restrictive Trade Practices And The Extraterritorial Application Of U.S. Antitrust And Trade Legislation, Mark A.A. Warner

Northwestern Journal of International Law & Business

The Japan-U.S. economic relationship has been marked by tremendous friction and misunderstanding. These tensions have given rise in the past to the extraterritorial application of U.S. trade and antitrust laws to perceived public and private restrictive trade practices. In this paper, I will review the U.S. approach to the extraterritorial application of trade and antitrust laws, particularly as they apply to Japan. I will conclude that although formal coercion has given way to more bilateral negotiations, demands will grow for a return to the more aggressive U.S. posture of the past unless meaningful and effective market access is achieved. I …


An International Drug Administration: Curing Uncertainty In International Pharmaceutical Product Liability, Katherine A. Davis Jan 1998

An International Drug Administration: Curing Uncertainty In International Pharmaceutical Product Liability, Katherine A. Davis

Northwestern Journal of International Law & Business

This comment will demonstrate how discrepancies among product li- ability standards and different interpretations of their application have cre- ated fear and uncertainty in the pharmaceutical industry. This fear has caused distortions in the market, increased costs for both manufacturers and consumers, and chilled the research and development of new products. To combat these problems, this comment proposes that the United States, the European Union, and Japan work together to create a new international, uniform system of product liability for pharmaceutical products. Harmo- nizing the standard of liability for pharmaceuticals among these regimes has proven inadequate to stop inconsistency and …


The Kalanke Ruling: Gender Equality In The European Labor Market, Ann Donahue Jan 1998

The Kalanke Ruling: Gender Equality In The European Labor Market, Ann Donahue

Northwestern Journal of International Law & Business

Part I of this note describes the facts that lead up to the ruling in Ka- lanke v. Freie Hansesetadt Bremen and critiques the decision of the ECJ. Since the Court's reasoning lacks depth and precedence, Part II examines the opinion of the Advocate General to explain the possible reasoning be- hind the decision. Part III scrutinizes the degree of cohesiveness between the Kalanke ruling and subsequent decisions by the ECJ. Part IV follows the reactions of the European market to Kalanke. Part V examines propos- als to minimize the effects of the decision. Finally, the note proposes statutory language …


The Law "On The State Registration Of Rights In Real Property": Encouraging Or Deterring Foreign Investment In The Russian Federation?, William R. Siegel Jan 1998

The Law "On The State Registration Of Rights In Real Property": Encouraging Or Deterring Foreign Investment In The Russian Federation?, William R. Siegel

Northwestern Journal of International Law & Business

The Law "On the State Registration of Rights in Real Property" of July 21, 1997 (the "Registration Law" or "the Law") constitutes a major step towards the achievement of an effective national registration system and, concomitantly, a viable real estate market for foreign investors in the Russian Federation ("RF"). Prior to this law, foreign investors could not rely upon a formal system of state registration to protect their interests in real property.To remedy this problem, the Registration Law creates a system that, at least on paper, is comparable to Western registration systems in its consistency, accessibility and certainty. However, the …


Lost In The Judicial Wilderness: The Stateless Corporation After Matimak Trading, Mark Baker Jan 1998

Lost In The Judicial Wilderness: The Stateless Corporation After Matimak Trading, Mark Baker

Northwestern Journal of International Law & Business

Statelessness clearly implicates issues concerning basic human rights. The United Nations has addressed some of these issues by taking steps to reduce statelessness and to minimize its results, most notably with the Convention on the Reduction of Statelessness and the Convention Relating to the Status of Stateless Persons. Although mitigating the effects of statelessness is noble and quite worthwhile, these efforts may fail to reach certain stateless persons, and, more specifically, certain stateless entities. Enter Matimak Trading Company ("Matimak"), a corporation formed under the laws of, and with its principal place of business in, Hong Kong. Recently, the U.S. Second …


China's Tax Preferences To Foreign Investment: Policy, Culture And Modern Concepts, Zhaodong Jiang Jan 1998

China's Tax Preferences To Foreign Investment: Policy, Culture And Modern Concepts, Zhaodong Jiang

Northwestern Journal of International Law & Business

In conclusion, policy-making in China is subject to the leadership's perception of problems and solutions. Taxation must reflect political and economic concerns and closely follow policy choice. For the Chinese, the objective, economic value to foreign businesses should not be as important as the Chinese sincerity and friendly sentiments that the preferential meas- ures symbolize. While the Chinese do refer to modern concepts such as ef- ficiency or equity, they tend to apply their own interpretation and understanding.


Combating The Ilicit Art Trade In The European Union: Europol's Role In Recovering Stolen Artwork, Jennifer Sultan Jan 1998

Combating The Ilicit Art Trade In The European Union: Europol's Role In Recovering Stolen Artwork, Jennifer Sultan

Northwestern Journal of International Law & Business

In order to provide a context for a discussion of how to effectively combat the art theft problem, Part II of this comment will examine the vari- ous incentives that encourage art theft. Parts I, IV, and V will explain the background and key provisions of two international conventions and one regional directive that address the problem of art theft in the EU. Part VI will analyze the strengths and shortcomings of the existing legal regime ac- cording to the two conventions and a directive. Part VII will discuss three mechanisms that have been somewhat successful in the recovery of …


The Cisg Convention And Thomas Franck's Theory Of Legitimacy, Anthony S. Winer Jan 1998

The Cisg Convention And Thomas Franck's Theory Of Legitimacy, Anthony S. Winer

Northwestern Journal of International Law & Business

The Contracts for the International Sale of Goods (CISG) Convention is one of the most talked-about, and written-about, aspects of international commercial law. Ss time progresses, it may become evident that significant numbers of commercial actors and significant numbers of courts and other adjudicatory bodies are simply choosing not to apply the Convention. In such event, the question as to why there should be such a reluctance to adopt the Convention will present itself. This Article finds helpful perspective on this question in the work of international legal scholar Thomas Franck. Specifically, guidance is drawn from the theory of international …


Globalizing Sanctions Against Foreign Bribery: The Emergence Of A New International Legal Consensus, David A. Gantz Jan 1997

Globalizing Sanctions Against Foreign Bribery: The Emergence Of A New International Legal Consensus, David A. Gantz

Northwestern Journal of International Law & Business

Part I of the article begins with a review of the rationale and key legal ele- ments of the U.S. Foreign Corrupt Practices Act. Part II describes recent efforts by the United States to convince other governments and firms of the need for binding, enforceable and universally accepted rules against corrupt payments to foreign public officials. Parts III and IV survey the activities of various governmental organizations and major private sector groups that support international efforts to effectively discourage foreign bribery, re- spectively. The key sections, Parts V and VI, describe, analyze and critique the two major international conventions, the …


Why Has The Fcpa Prospered, Lee C. Buchheit, Ralph Reisner Jan 1997

Why Has The Fcpa Prospered, Lee C. Buchheit, Ralph Reisner

Northwestern Journal of International Law & Business

The international reaction to the Helms-Burton Act has been fierce.7 But even while the Helms-Burton debate has been raging, an earlier iece of U.S. legislation, the Foreign Corrupt Practices Act (FCPA or Act), has garnered unexpected flattery from some of the same countries that have been so vigorous in denouncing the Helms-Burton Act. There are two pos- sible explanations for these different reactions.


Toward A Comparative Analysis Of Institutions For International Economic Integration, Joel P. Trachtman Jan 1997

Toward A Comparative Analysis Of Institutions For International Economic Integration, Joel P. Trachtman

Northwestern Journal of International Law & Business

This issue is devoted to the publication of papers presented at the 1996 annual conference of the International Economic Law Group of the American Society of International Law. This conference presented an opportunity for scholars from different countries and backgrounds, with expertise in different types of international eco- nomic integration, to assemble and compare notes. The articles in this issue represent the results of their research and discussion.


European Constitutionalism And Its Discontents, J.H.H. Weiler, Joel P. Trachtman Jan 1997

European Constitutionalism And Its Discontents, J.H.H. Weiler, Joel P. Trachtman

Northwestern Journal of International Law & Business

Traditionally, the European Community has been set apart from all other international organizations, as well as from states, and Euro- pean Community law has been distinguished from both international law and from domestic law. This was so because of the supposed unique internal structure and processes of the European Community. This "splendid isolation" is no longer viable. Increasingly in the .be- havior - and study - of other transnational organizations, polities or regimes, the European transnational experience has come to provide a model, a yardstick and a set of analytical and critical tools, and per- haps erroneously, a desideratum. While …


Science And International Regulatory Convergence, Jeffery Atik Jan 1997

Science And International Regulatory Convergence, Jeffery Atik

Northwestern Journal of International Law & Business

National regulation is frequently premised on scientific assump- tions; much of regulatory design is based on scientific findings. Con- sumer product, food and drug and workplace safety standards all depend on a scientific assessment of the risks faced by the public and of the efficacy of an adopted measure in addressing these risks. Build- ing codes, waste disposal protocols and mandated immunization of school children all proceed from the technical recommendations of the scientific community. In current Western society, a regulatory measure lacking a scien- tific basis will be subject to criticism and perhaps ridicule; it may be struck down …


Are Private Remedies In Domestic Courts Essential For International Trade Agreements To Perform Constitutional Functions With Respect To Sub-Federal Governments?, Matt Schaefer Jan 1997

Are Private Remedies In Domestic Courts Essential For International Trade Agreements To Perform Constitutional Functions With Respect To Sub-Federal Governments?, Matt Schaefer

Northwestern Journal of International Law & Business

The term constitutionalism is increasingly discussed in the context of international trade agreements. A prominent example is Professor Petersmann's writings on the constitutional functions that trade agree- ments could serve by limiting governmental discretion to take welfare- reducing protectionist measures against the long-term interests of a nation and contrary to individual economic liberty.' The absence of such protectionist constraints and foreign trade rights in domestic con- stitutions can be mitigated (and already is mitigated somewhat) through the development of international trade rules and institutions.


The Development Of Compliance Programs: One Company's Experience, Patrick J. Head Jan 1997

The Development Of Compliance Programs: One Company's Experience, Patrick J. Head

Northwestern Journal of International Law & Business

Though the FCPA is only a small portion of the coverage of corporate compliance programs, this perspective will focus on the FCPA and, to a certain extent, on other collateral impact statutes, such as securities and in- ternal revenue laws. It will not delve into related statutes, such as the over- seas reach of antitrust laws.


Book Review: Has Globalization Gone Too Far? By Dani Rodrik. Washington, D.C, Paul B. Stephan Jan 1997

Book Review: Has Globalization Gone Too Far? By Dani Rodrik. Washington, D.C, Paul B. Stephan

Northwestern Journal of International Law & Business

To this debate comes Dani Rodrik, an economist on the faculty of Har- vard's John F. Kennedy School of Government. In his brief and intriguing book, Has Globalization Gone Too Far?,2 he seeks to make the race-to-the- bottom story respectable for those who take economics seriously. Rather than preaching radical opposition to globalization, however, he proposes moderate and incremental resistance. He outlines policy responses to what he argues are legitimate concerns about the growth of the world economy, encouraging targeted trade barriers based on a demonstrated national con- sensus about legitimate and illegitimate means of production. I will begin by …


Trade Protection In The New Millennium: The Ascendancy Of Antidumping Measures, Christopher F. Corr Jan 1997

Trade Protection In The New Millennium: The Ascendancy Of Antidumping Measures, Christopher F. Corr

Northwestern Journal of International Law & Business

This article will first examine why the antidumping law will become the weapon of choice for import protection in the new millennium. It then will provide an overview of the antidumping regulatory regime, and the controversy it has engendered. Finally this article will discuss the compli- ance measures that global exporters should consider in order to avoid anti- dumping liability in the future.


Does Russia Need A Securities Law?, Greg Lumelsky Jan 1997

Does Russia Need A Securities Law?, Greg Lumelsky

Northwestern Journal of International Law & Business

The question in the title of this article is not necessarily rhetorical. Perhaps a more appropriate inquiry is, does Russia need its current securi- ties law?' The response to the titular question is, as I will argue, clearly yes. The answer to the second question is to a large extent negative. Given the prevailing economic conditions in Russia, the course of enterprise pri- vatization, and the principal institutions shaping Russian capital markets, there is good reason to think that rather than assisting the growth and en- trenchment of a market in securities, much of the current Russian securities legislation will …


The Worldwide Banning Of Schmiergeld: A Look At The Foreign Corrupt Practices Act On Its Twentieth Birthday, Stanley Sporkin Jan 1997

The Worldwide Banning Of Schmiergeld: A Look At The Foreign Corrupt Practices Act On Its Twentieth Birthday, Stanley Sporkin

Northwestern Journal of International Law & Business

Many cynics viewed the United States' attempt to ban all forms of cor- porate bribery as another example of the federal government's taking on the role of Don Quixote and tilting at windmills. While the law may not have been taken seriously when it was first enacted, it is clear that it has assumed a prominent place among our federal criminal laws. According to a recent article in the Wall Street Journal, the FCPA remains "the world's toughest law against foreign bribes."9 This article will provide background as to how the law was conceived and will discuss the law's present …