the two classes of risks. However, lender's requirements for personal commitments, e.g., guarantees, mitigate the benefits … commitments. Poorly performing companies have to provide more inside collateral and pledge guarantees with a higher probability … than good borrowers do. Secondly, medium-sized corporations in Germany are less likely to provide guarantees than …

Skating Union on a doping matter. The question at issue was whether the arbitration clause in the athlete’s contract for … abuse of dominance under competition law. A lower court had – sensationally – held that the underlying arbitration clause … institutions. Yet, in this interesting opinion the Federal Supreme Court sets standards for international arbitration. This paper …