Law and Economics Commons^™

The Corporate Restructuring Machine: Introducing An Open Platform Approach To Workouts, Horst Eidenmüller, Jared Mayer

Articles

Out-of-court corporate reorganizations, or “corporate workouts,” allow dispersed investors with differing interests to coalesce and strike deals to successfully reorganize distressed companies. Corporate workouts, however, suffer from a host of well-known problems, creating “process fragility.” Current bargaining dynamics limit the instances in which corporate workouts can be used, narrow the kinds of deals that can be made, and invite opportunistic and other socially costly behavior. Yet the Artificial Intelligence (AI) revolution is here; how can it help parties navigate corporate workouts?

In this Article, we argue that AI is well situated to help increase the efficiency of corporate workouts. Based …

Federal Commercial Companies Law, Poej

Proche-Orient, Études juridiques

No abstract provided.

Mortgage Backed Securities And Islamic Finance Law, Poej

Proche-Orient, Études juridiques

No abstract provided.

Regularity Clarity At A Cost: The Risks To Everyday Investors If Project Crypto Continues Without Guardrails, Maia Chess

The University of Cincinnati Intellectual Property and Computer Law Journal

No abstract provided.

Poor Esg: Regressive Effects Of Climate Stewardship, Zohar Goshen, Assaf Hamdani, Alex Raskolnikov

BYU Law Review

The rise of inequality and global warming are the two ultimate challenges of our time. After decades of congressional failure to address climate change, the private sector has stepped in and adopted a set of environmental, social, and governance (ESG) policies as a market-based solution to a public policy failure. ESG advocates hope that corporate executives would save our planet. Where Congress failed, ESG will succeed.

This Article argues that if ESG-driven climate stewardship ever achieves the scale necessary to have a real impact on global warming, it will hurt the poor. Legislative interventions to combat climate change are nearly …

Purpose-Driven Compliance, Veronica Root Martinez

Texas A&M Law Review

Whether it is a small brokerage firm in Ann Arbor, Michigan, a private university in Cambridge, Massachusetts, or a multinational conglomerate head-quartered in New York City, organizations understand that they are required to fulfill a range of compliance obligations. Compliance programs today tend to have two important characteristics in common. First, the notion that perfect compliance is an impossible goal is a key component of the understandings and expectations of many firms’ compliance programs. Second, organizations have almost uniformly adopted compliance programs in areas where enforcement activity has been significant—like in the areas of antibribery and anticorruption, anti-money laundering, antitrust, …

"Market Shift Liability" For Generic Drugs: Market Share Theory's Eccentric New Cousin, Lars Noah

Texas A&M Law Review

Market share liability, which permits allocating proportional responsibility to each tortious member of an industry when victims cannot identify the exact source of their injurious exposure, enjoyed its judicial heyday in the 1980s. It originated in the peculiar setting of litigation over a distinctive cancer that developed decades after in utero exposure to the drug diethylstilbestrol (“DES”), which a few hundred companies had produced and sold for the prevention of miscarriages before federal regulators withdrew it from the marketplace. Although judges have occasionally attempted novel extensions of this theory to other products, and academic commentators remain fascinated by its use, …

Reforming Antitrust: Addressing Data Monopolization In Two-Sided Digital Markets, Linyi Li

Brooklyn Journal of Corporate, Financial & Commercial Law

The rise of dominant digital platforms has revealed fundamental shortcomings in U.S. antitrust law. Grounded in the consumer welfare standard and its focus on price effects, current doctrine struggles to regulate markets in which services are offered at zero monetary cost and competitive power is derived from the accumulation and control of user data. In two-sided digital markets, data functions as a central competitive asset, enabling platforms to entrench market power, raise barriers to entry, suppress innovation, and impose non-price harms on consumers. These harms frequently escape antitrust scrutiny because they do not manifest as higher prices or reduced output. …

Risky Business: Uncertainty, Trade Policy, And The Impact On Mergers & Acquisitions, Talia E. Levine

Mercer Law Review

“If there’s one thing that’s certain about life, it’s uncertainty.” It’s closing day for a deal. Executives, lawyers, and advisors surround the boardroom table. Diligence is complete, financing is secured, and the goals of the buyer and target are aligned. Then, a midnight executive order rolls through, imposing a 10% tariff on half the target’s supply chain. Uncertainty ensues. Negotiations stall. The deal does not close.

The rise of trade-related uncertainty has become a significant disruptor in mergers & acquisitions (“M&A”) and private equity (“PE”) transactions. Uncertainty impedes the flow of strategic transactions in the M&A and PE markets by …

"Market Shift Liability" For Generic Drugs: Market Share Theory's Eccentric New Cousin, Lars Noah

UF Law Faculty Publications

Market share liability, which permits allocating proportional responsibility to each tortious member of an industry when victims cannot identify the exact source of their injurious exposure, enjoyed its judicial heyday in the 1980s. It originated in the peculiar setting of litigation over a distinctive cancer that developed decades after in utero exposure to the drug diethylstilbestrol (“DES”), which a few hundred companies had produced and sold for the prevention of miscarriages before federal regulators withdrew it from the marketplace. Although judges have occasionally attempted novel extensions of this theory to other products, and academic commentators remain fascinated by its use, …

The Freedman's Savings Bank And Financial Literacy Education, Alexis A. Balance

University of Richmond Law Review

In the United States, white, non-Hispanic individuals possess approximately seven times the wealth of Black individuals. One recent study found that for every 100 dollars in wealth held by a white household, a Black household holds about fifteen dollars. This disparity in wealth accumulation is referred to as the wealth gap, and it has historically stratified along racial lines. Although income inequality contributes to this disparity, the racial wealth gap is much more pronounced and continues to grow. …

Clawing Back Fraudulent Profits—Investor Protection Or Regulatory Overreach: The Disgorgement Dilemma In Securities Law, Jessica Sun

The Journal of Business, Entrepreneurship & the Law

This comment explores the legal complexities surrounding the Securities and Exchange Commission’s (SEC) use of disgorgement as an enforcement tool, specifically addressing the tension between investor protection and regulatory overreach. Sun examines the evolution of disgorgement from a court-created equitable remedy to a power formally codified by the National Defense Authorization Act of 2021, while highlighting the significant limitations imposed by Supreme Court rulings in Kokesh v. SEC and Liu v. SEC. The comment centers on a current circuit split between the Second Circuit’s decision in SEC v. Govil—which requires a showing of "pecuniary harm" to victims before awarding disgorgement—and …

It's The Night Of The Living Deepfakes: The Threat Of Deepfakes On The Film Industry, Neki Shero

DePaul Business & Commercial Law Journal

No abstract provided.

Front Matter

DePaul Business & Commercial Law Journal

No abstract provided.

بعد سنتين من إقرار قانون "تعديل بعض أحكام قانون الضمان الاجتماعي وإنشاء نظام التقاعد والحماية الاجتماعية": دروس في فنّ إجهاض الإصلاح قبل نشوئه, يمنى مخلوف

Proche-Orient, Études juridiques

On December 22, 2023, the Law “Amending Some Provisions of the Social Security Law and Establishing the Retirement and Social Protection System” was enacted. This law introduces the pension system to replace the end-of-service indemnity. Despite the advantages of adopting indexed periodic payments over lump sum compensation, it is clear that the transition to the new system is threatened by the on-going end-of-service compensation crisis. What stands out is the contradiction between the approach adopted to address the end-of-service compensation crisis and the mechanisms stipulated in the 2023 Law. While the pension system relies on periodic indexation in order to …

عملة إيفاء الديون مع ملاحظات حول تحديد سعر صرف العملة: دراسة مقارنة, أنطوان طعمة

Proche-Orient, Études juridiques

This study tries to clear up the ambiguity that deals with the interpretation of legal articles related to repayment. It includes an attempt to interpret the text of article 301 of the Law of Obligations and Contracts. It also deals with the text of the second paragraph of that article, which mentions the phrase “normal time” during which the parties have the right to stipulate the payment in a foreign currency or metal. The study also deals with an explanation of the concepts of compulsory circulation and legal circulation of currency, and the impact of these concepts on the interpretation …

ثوابت وتساؤلات فإمكانية حلول فيما خص إيفاء الديون المحررة بالعملة الأجنبية في ظل الأزمة المالية, ݒول الحاج شاهين

Proche-Orient, Études juridiques

The seminar entitled “Repayment of Debts Denominated in Foreign Currency Amid the Financial Crisis” addresses the severe financial turmoil Lebanon has been experiencing since the end of 2019, marked above all by the sharp depreciation of the Lebanese pound. This collapse created profound difficulties in repaying debts denominated in foreign currency, and in some cases made repayment impossible. The issue is closely tied to Lebanon’s reliance on foreign currencies, particularly the U.S. dollar. Anticipating such risks, many Lebanese citizens had safeguarded their savings by depositing them in banks in foreign currency, as protection against the recurring devaluation of the national …

La Levée Du Secret Bancaire Au Liban, Karim Daher

Proche-Orient, Études juridiques

The Banking Secrecy Law, adopted in Lebanon in 1956, formally prohibited banks and their personnel from disclosing any information relating to their clientele to any public or private party. The purpose of enacting this law was to attract financial inflows to Lebanon in the 1950s and 1960s, a period that coincided with the oil boom in Gulf countries, and nationalization processes in neighboring Arab countries, especially Egypt and Syria, as well as later from wealthy Gulf oil monarchies. While this legislation ensured the protection and confidentiality of these deposits, it weakened tax citizenship, promoted a culture of corruption and impunity, …

عقد الايجار التجاري في زمن الوباء: النزاعات والعوامل المؤثرة في الاحكام, ميساء نصر

Proche-Orient, Études juridiques

The courts of Dubai faced many disputes resulting from the pandemic and its repercussions, and the Dubai Rental Dispute Settlement Center played a key role in ruling on requests to terminate commercial lease contracts or reduce rent. This study aims at inferring the factors that have affected the decisions of the Center’s committees, reaching the following conclusions. On the one hand, the main factor to determine whether a specific damage was caused by the epidemic or not is the extent to which the commercial activity is connected to customers. On the other hand, the committees have issued diverse decisions with …

The Public Private Partnership (Ppp) Method: Insights From The Arab Region Context In General And Dubai Market In Particular, Rita Waked

Proche-Orient, Études juridiques

The Public Private Partnership (PPP) as a form of association involving a public entity and a private person has become a global innovative trend for governments seeking to finance their infrastructure, and has gradually established itself as a driving force of the economic recovery in the aftermath of the COVID-19 pandemic. This article examines the PPP’s main features and the pillar of its success, at a time where it is experiencing a resurgence of interest in Arab countries, and in particular in Dubai where the adoption in 2015 of a PPP law reflects the Emirate’s consciousness of the importance of …