This paper investigates the properties of various legal regimes when there is the opportunity for bankruptcy through debt. The key result is that, for a single tortfeasor, strict liability always yields less than the socially optimal level of care, while negligence will never do any worse than...

The debate surrounding fiduciary duties owed to creditors by directors, especially in the vicinity of insolvency, has resurfaced in light of two court decisions in Canada and the United States. In this paper, we contribute to the discussion by looking at the issue from a corporate finance...

The debate surrounding fiduciary duties owed to creditors by directors, especially in the vicinity of insolvency, has resurfaced in light of two court decisions in Canada and the United States. In this paper, we contribute to the discussion by looking at the issue from a corporate finance...

The return of inflation has revived some of the policy discussions that typically accompany inflationary episodes. Most of these discussions ignore the more fundamental question of why we operate in a world of unbacked, or fiat, money? This article, after providing a basic introductory model of...

This article is an empirical analysis of the past two years of litigation around cryptocurrencies and other crypto-assets. We collected almost 300 cases from the past two years that, and classified them by the various issues that were litigated in these cases. The article provides the reader...

International Water Law has developed a set of rules for resolving interstate fresh water disputes that govern both the substance of these disputes and the conduct of the disputing states. “Equitable and reasonable utilization” is commonly considered as the leading substantive rule, “no...