The court in Mayhew v. King 2010] EWHC 1121 (Ch) failed to recognise that the principle against divestiture has nothing to do with the principle of pari passu distribution. However, the court's actual application of the principle is in many respects a healthy repudiation of the Court of Appeal's...

Guaranties and suretyships reduce the risk of default and today remain essential arrangements in many commercial and consumer transactions. A guarantor or surety promises to pay for the debt of a third party and may become primarily liable on that debt. Despite the significance of such a promise...

A company voluntary arrangement ('CVA') under Part I of the Insolvency Act 1986 ('IA') is a statutory contract into which terms may be implied on ordinary contractual principles. Although some cases proclaim that the court has no power to vary the terms of a CVA or authorise a breach of the CVA...

This article addresses the issue of insurance coverage for commercial enterprises as a consequence of the recent spate of droughts in the southwestern United States. This almost two-decade long drought results from increasing temperatures and climate change. The article posits that damage or...

This article examines the Chrysler section 363 transaction and the opinions that approved it. Chrysler may be merely another example of good facts and a crisis making what is, perhaps, bad law, which has been a pattern in the evolution of chapter 11 jurisprudence since the Bankruptcy Code was...

This is the Introduction to a book that explains how law and economics works with civil law concepts. Lawyers and students in Quebec, in Scotland, in continental Europe, in Latin America, in China or living elsewhere under civil law systems who can cope with English do not have to face the...

This article argues that punitive, nominal, contemptuous, vindicatory, and disgorgement damages (commonly referred to as non-compensatory damages) can be collectively analysed as public interest damages because all these awards are justified by violations of public interests in addition to...

We have found that integrating spiritual values and principles with traditional law school courses enriches both teacher and student, yielding a lawyering product that is priceless to society. This article focuses on three key areas. Section I, the most critical part of the article, consists of...

The conventional wisdom is that property rules induce more (and more efficient) contracting, and that when faced with rigid property rules, intellectual property owners will contract into more flexible liability rules. A series of recent, private copyright deals show some intellectual property...

Amendments to the Louisiana Civil Code revived the potential for a testament to utilize the fidei commissum de residuo, while maintaining that the distinct fidei commissum is still prohibited. However, the Civil Code is silent as to the composition of the residual interest resulting from...