Open Sesame: The Myth Of Alibaba's Extreme Corporate Governance And Control,
2016
Brooklyn Law School
Open Sesame: The Myth Of Alibaba's Extreme Corporate Governance And Control, Yu-Hsin Lin, Thomas Mehaffy
Brooklyn Journal of Corporate, Financial & Commercial Law
In September 2014, Alibaba Group Holding Limited (Alibaba) successfully launched a $25 billion initial public offering (IPO), the largest IPO ever, on New York Stock Exchange. Alibaba’s IPO success witnessed a wave among Chinese Internet companies to raise capital in U.S capital markets. A significant number of these companies have employed a novel, but poorly understood corporate ownership and control mechanism—the variable interest entity (VIE) structure and/or the disproportional control structure. The VIE structure was created in response to the Chinese restriction on foreign investments; however, it carries the risk of being declared illegal under Chinese law. The disproportional control …
Credit Discrimination Based On Gender: The Need To Expand The Rights Of A Spousal Guarantor Under The Equal Credit Opportunity Act,
2016
Brooklyn Law School
Credit Discrimination Based On Gender: The Need To Expand The Rights Of A Spousal Guarantor Under The Equal Credit Opportunity Act, Allen Abraham
Brooklyn Journal of Corporate, Financial & Commercial Law
This Note focuses on the definition of “applicant” as defined in the Equal Credit Opportunity Act (ECOA) and Regulation B. Specifically, this Note explores the expanded protections offered by the ECOA to spousal guarantors, after the Federal Reserve Board (FRB) expanded the definition of “applicant” by promulgating Regulation B. However, after a circuit split, where the Eighth Circuit, in Hawkins v. Community Bank of Raymore, held that a guarantor was not an “applicant” per the ECOA’s definition and the Sixth Circuit, in RL BB Acquisition, LLC v. Bridgemill Commons Development Group, LLC, followed Regulation B’s expansion of the definition of …
Another Bite At The Apple For Trade Secret Protection: Why Stronger Federal Laws Are Needed To Protect A Corporation's Most Valuable Property,
2016
Brooklyn Law School
Another Bite At The Apple For Trade Secret Protection: Why Stronger Federal Laws Are Needed To Protect A Corporation's Most Valuable Property, Alissa Cardillo
Brooklyn Journal of Corporate, Financial & Commercial Law
Trade secrets are one of a corporation’s most valuable assets. However, they lack adequate protection under federal law, leaving them vulnerable to theft and misappropriation. As technology advances, it becomes easier and less time consuming for individuals and entities to access and steal trade secrets to a corporation’s detriment. Most often these thefts involve stealing trade secrets in an intangible form. Current legislation fails to adequately protect intangible trade secrets, leaving them vulnerable to theft. An amendment to the National Stolen Property Act that encompasses intangible trade secrets would close a loophole that currently exists relating to intangible assets, allowing …
Switch Hitters: How League Involvement In Daily Fantasy Sports Could End The Prohibition Of Sports Gambling,
2016
Brooklyn Law School
Switch Hitters: How League Involvement In Daily Fantasy Sports Could End The Prohibition Of Sports Gambling, Jordan Meddy
Brooklyn Journal of Corporate, Financial & Commercial Law
Whether in the form of lotto tickets or casino table games, gambling is legally permitted in some way in virtually every U.S. state. Yet, in all but a handful of jurisdictions, federal law prohibits wagering on sporting events or professional athletes in any form. Several economically challenged states, particularly New Jersey, have been trying to authorize sports gambling within their borders as a way to raise tax revenues and support their local gambling industries. While these attempts have thus far been unsuccessful, Daily Fantasy Sports have simultaneously experienced a meteoric rise, becoming a multi-billion dollar industry. This Note examines the …
The Sixth Pillar Of Anti-Money Laundering Compliance: Balancing Effective Enforcement With Financial Privacy,
2016
Brooklyn Law School
The Sixth Pillar Of Anti-Money Laundering Compliance: Balancing Effective Enforcement With Financial Privacy, Maria A. De Dios
Brooklyn Journal of Corporate, Financial & Commercial Law
The U.S. government has responded to the increase of financial crimes, including money laundering and terrorist financing, by requiring that financial institutions implement anti-money laundering compliance programs within their institutions. Most recently, the Financial Crimes Enforcement Network exercised its regulatory powers, as authorized by the Treasury Department, by proposing regulations that now explicitly add customer due diligence to the preexisting anti-money laundering regime. The policy behind the government’s legislative and regulatory measures is clear—financial institutions must ensure that they are protected from and not aiding in the illegal efforts of criminals. The complexity and insidiousness of these financial crimes makes …
A Cautionary Look At A Cautionary Doctrine,
2016
Brooklyn Law School
A Cautionary Look At A Cautionary Doctrine, Andrew W. Fine
Brooklyn Journal of Corporate, Financial & Commercial Law
Optimism is an indispensable element of effective salesmanship. It is therefore quite natural for the directors of public companies to want to optimistically tout the potential long-term benefits of investing in their companies. After all, directors of public companies must be empowered to attract the attention and money of American investors. But what happens if these long-term projections fail to come true? Who is to blame for long-term projections that are simply unrealistic? A doctrine called the “bespeaks caution” doctrine has emerged in order to govern these inquiries, and holds that these optimistic forward-looking statements are legally immunized provided that …
Standing Up For Their Data: Recognizing The True Nature Of Injuries In Data Breach Claims To Afford Plaintiffs Article Iii Standing,
2016
Brooklyn Law School
Standing Up For Their Data: Recognizing The True Nature Of Injuries In Data Breach Claims To Afford Plaintiffs Article Iii Standing, Andrew Braunstein
Journal of Law and Policy
Over the last several years, data breaches have become increasingly more common, due in no small part to the failures of organizations charged with storing and protecting personal data. Consumers whose data has fallen victim to these breaches are more often turning to federal courts in attempts to be made whole from the loss of their information, whether simple credit card information or, as breaches become more sophisticated, social security information, medical and financial records, and more. These consumers are often being turned away from the courthouse, however, due to a failure of many federal courts to find that the …
Share And Share Dislike: The Rise Of Uber And Airbnb And How New York City Should Play Nice,
2016
Brooklyn Law School
Share And Share Dislike: The Rise Of Uber And Airbnb And How New York City Should Play Nice, Alexandra Jonas
Journal of Law and Policy
Uber and Airbnb are two companies in the emerging “sharing economy” that provide individuals with a means to become entrepreneurs and benefit from a laissez-faire business model. The problem, however, is that while the benefits to users are great, so too are the risks. The dangers of operating without restraint and circumventing existing law are not only potentially harmful to unapprised users, but also adversely affect the continued use of these businesses. Every aggrieved user complaint has the potential for a lawsuit and every violation creates an opportunity for penalties. Left over are attempts by the courts and city government …
An Historical Overview Of Ucc Article 9,
2016
Southern Methodist University, Dedman School of Law
An Historical Overview Of Ucc Article 9, Peter Winship
Faculty Journal Articles and Book Chapters
This book chapter traces the history of Article 9 (Secured Transactions) of the U.S. Uniform Commercial Code. After setting out the pre-1940 legal setting in the United States for the use of movable property in secured transactions, the chapter studies three stages in the evolution of Article 9: (1) the drafting of the first “official” text (1947-1951), (2) the continuing revision of the text and its slow adoption by states (1952-1990), and (3) the thorough-going revision that lead to the present 1998 official text and subsequent minor amendments (1990-present). The chapter notes the growing complexity of the text and the …
The Commercial Litigator’S Bible - Fourth Edition: A Review Of The Fourth Edition Of Commercial Litigation In New York State Courts,
2016
Touro University Jacob D. Fuchsberg Law Center
The Commercial Litigator’S Bible - Fourth Edition: A Review Of The Fourth Edition Of Commercial Litigation In New York State Courts, Hon. Ira B. Warshawsky
Touro Law Review
No abstract provided.
Reinterpreting The Status-Contract Divide: The Case Of Fiduciaries,
2016
Columbia Law School
Reinterpreting The Status-Contract Divide: The Case Of Fiduciaries, Hanoch Dagan, Elizabeth S. Scott
Faculty Scholarship
The distinction between status and contract permeates legal analyses of categories of cooperative interpersonal interactions in which one party has particular obligations to the other. But the current binary understanding of the distinction has facilitated its use as a foil and thus undermined its conceptual and normative significance. This predicament is understandable given that the innate, comprehensive, and inalienable status as well as the wholly open-ended contract anticipated by commentators are corner — rather than core — alternatives in a liberal polity. Hence, to clarify these normative debates we introduce two further, intermediate conceptions: office and contract type. Like the …
Fashion Forward: The Need For A Proactive Approach To The Counterfeit Epidemic,
2016
Brooklyn Law School
Fashion Forward: The Need For A Proactive Approach To The Counterfeit Epidemic, Casey Tripoli
Brooklyn Journal of International Law
In the last two decades, the overall activity of the counterfeit market has expanded and risen 10,000 percent. This dramatic shift corresponds to growth of the Internet, which has unified the fascination of obtaining cheap, illegitimate goods with the efficiency of a mouse click. With the expected continued inflation of the counterfeit market comes a host of new concerns, namely, how to determine who is responsible for the distribution of these knockoffs, and who should be ordained to limit them in the marketplace. In both the United States and the European Union, however, outdated laws produce a mélange of inadequate …
Treating The New European Disease Of Consumer Debt In A Post-Communist State: The Groundbreaking New Russian Personal Insolvency Law,
2016
Brooklyn Law School
Treating The New European Disease Of Consumer Debt In A Post-Communist State: The Groundbreaking New Russian Personal Insolvency Law, Jason J. Kilborn
Brooklyn Journal of International Law
This article examines the tumultuous transition from restrictive Communism to the debt-fueled consumer economy of modern Russia. In particular, it surveys Russia’s legal response to severe debt distress, situating it in the context of nearly one thousand years of historical development. Effective 1 October 2015, Russia finally joined most of its European neighbors in adopting a personal bankruptcy law, with characteristics that reflect both evolving international best practices and a series of lessons not learned. This article offers the first detailed exposition in English of the two steps forward represented by this new law, as well as an evaluation of …
The Need For An International Convention On Data Privacy: Taking A Cue From The Cisg,
2016
Brooklyn Law School
The Need For An International Convention On Data Privacy: Taking A Cue From The Cisg, Morgan Corley
Brooklyn Journal of International Law
In light of the invalidation of the U.S.-EU Safe Harbor, along with the increase in sales of personal data as a commodity, data privacy has become a major concern amongst different nations. The lack of harmonization of data-privacy laws around the world continues to pose obstacles to the free flow of data across national borders. The free flow of data is, nonetheless, essential the international economy. As a result, nations continue to work together to try to create mechanisms by which data can be transferred across borders in a secure manner. This Note examines the current state of data-privacy law …
International Commercial Transactions,
2016
Southern Methodist University
International Commercial Transactions, Sun Chang, Hernan Verly
The International Lawyer
No abstract provided.
Unpacking The Compensatory Principle: Causation, Mitigation, Certainty Of Loss And Remoteness: The Mtm Hong Kong,
2016
Singapore Management University
Unpacking The Compensatory Principle: Causation, Mitigation, Certainty Of Loss And Remoteness: The Mtm Hong Kong, Yihan Goh, Man Yip
Research Collection Yong Pung How School Of Law
The High Court decision of Louis Dreyfus Commodities Suisse SA v MT Maritime Management BV (The MTM Hong Kong) affirms that the compensatory principle mandates the assessment of actual loss resulting from the breach of a charterparty. Owing to the unexpected delay in obtaining a substitute charter after the original charterers had repudiated the charterparty. The MTM Hong Kong raised a previously unconsidered issue: is the court allowed to take into account the vessel owners’ losses occurring after the date that the charter voyage would have been completed? Under the Smith v McGuire measure of compensation, an owner is conventionally …
Inside The Taft Court: Lessons From The Docket Books,
2016
Notre Dame Law School
Inside The Taft Court: Lessons From The Docket Books, Barry Cushman
Journal Articles
For many years, the docket books kept by certain of the Taft Court Justices have been held by the Office of the Curator of the Supreme Court. Though the existence of these docket books had been brought to the attention of the scholarly community, access to them was highly restricted. In April of 2014, however, the Court adopted new guidelines designed to increase access to the docket books for researchers. This article offers a report and analysis based on a review of all of the Taft Court docket books held by the Office of the Curator, which are the only …
Corporate Reorganisation Of China's Listed Companies: Winners And Losers,
2016
Singapore Management University
Corporate Reorganisation Of China's Listed Companies: Winners And Losers, Zinian Zhang
Research Collection Yong Pung How School Of Law
This article is the first empirical study investigating the corporate reorganisation of Chinese domestically-listed companies. Through examining these cases, it challenges the assertion made by most of these corporate reorganisation plans and by Chinese state-run media reports that creditors and general public shareholders were the major beneficiaries. Through an analysis of the data generated from all forth-three such cases, this articles reveals that: First, unsecured creditors could have, on average, received 61.37% more of their claims if the fundamental value distribution principle, the absolute priority norm, could have been complied with in these reorganisations; Second, if the general-public-shareholder-protection scheme issued …
Developments In The Law Affecting Electronic Payments And Financial Services,
2016
Indiana University Maurer School of Law
Developments In The Law Affecting Electronic Payments And Financial Services, Sarah Jane Hughes, Stephen T. Middlebrook
Articles by Maurer Faculty
No abstract provided.
Officer Accountability,
2016
University of Oklahoma College of Law
Officer Accountability, Megan Wischmeier Shaner
Faculty Articles
The officer is at the center of modern corporate governance. Wielding immense power and influence, officers’ conduct and decision-making can determine the success or failure of their companies and impact the economy more broadly. Fiduciary duties under state law serve as a vital check on officer power. This article is the third piece in a study of the role of fiduciary duties in regulating officer behavior. It examines an underlying premise in prior scholarship – that officers are rarely being held accountable for their conduct in the traditional fiduciary duty litigation context of state court. This article reviews opinions of …
