The ad hoc institutional configurations that facilitated the resolution of sovereign insolvency for over thirty years are fragmenting. In the absence of an acceptable alternative, the recent pari passu decision reveals the dangers of common law courts pressured to enforce contracts and paper...

The text is devoted to the issues of international law and the role of investment to international organizations such as the WTO, the OECD and the IMF. Author discusses the issues remedies available to investors and methods of investment dispute resolution, e.g. claims for damages that can be...

Scholars generally assess the usefulness of standard-form securities contracts from the perspective of the firms that use them. But these firm-centric accounts overlook the cumulative impact of standardization on markets. Where the market in question is critical to the financial system, this...

This Working Paper addresses Petróleos de Venezuela, S.A. (PDVSA), a State Owned Enterprise (SOE) and National Oil Company (NOC) fully owned by Venezuela, which operates the oil and gas industry in the country, and its eventual insolvency and default on its payments obligations due under its...

In its Kolassa judgment, the CJEU has for the first time decided which national court in the EU has jurisdiction for claims against an issuer of securities based on an allegedly false prospectus. This contribution analyses this fundamental and at the same time ambiguous ruling. The ruling's most...

The Long Term Credit Bank of Japan (LTCB) was one of the most aggressive lenders to real estate developers during the 1990s. Its financing activities covered the Pacific, including Australia, Vietnam, Saipan and Hawaii, as well as parts of the continental United States. Once one of Japan's three...

Українську версію цієї статті можна знайти тут: 'http://ssrn.com/abstract=3012191' http://ssrn.com/abstract=3012191Russian Abstract: Рассмотрено возникновение и развитие производного (косвенного)...

U.S. districts courts have been increasingly faced with international cases that involve foreign litigants and foreign conduct. Despite an abundance of doctrinal analyses on the U.S. Supreme Court's decisions involving extraterritorial civil jurisdiction, there are abysmally few empirical...

“Extreme” weather has become the new normal. What were previously considered to be inexplicable and unpredictable “acts of God” can no longer reasonably be said to be so. They are acts of man. The established doctrine of contractual impracticability rests on the notion that a party may...