Creditors have long understood that any claims they submit for repayment in a bankruptcy might be valid, but subject to subordination in the order of payment of the bankruptcy estate's limited funds if the creditor behaved inequitably as the debtor failed. Enron's on-going bankruptcy raised many...

This article examines, in the context of the Enron stock-drop debacle, the conflicts faced by fiduciaries of employee benefit plans investing in company stock. In particular, such fiduciaries may be unfairly trapped by overlapping standards of duty in federal securities laws and ERISA. The...

Outsiders often have and seek to trade on a firm's material, nonpublic information. For example, lawyers have traded on advance information about the filing of a lawsuit, a social activist has announced a plan to trade on advance information of a boycott, and a hedge fund operator has engaged in...

This article responds to a proposal by Professor John C. Coffee, Jr. for a modified form of strict liability for gatekeepers. Professor Coffee's proposal would convert gatekeepers into insurers, but cap their insurance obligations based on a multiple of the highest annual revenues the...

This study aims to analyse the provisions of the Alternative Investment Fund Managers Directive of the European Parliament and of the Council (2011/61/EU) which pertain to its scope. It is divided into two Sections:(a) Section A offers an overview of the legal framework governing alternative...

For many years, the rise in number of international units operated by U.S. franchisors has outpaced domestic growth. As the trend toward globalization accelerates, franchise owners must determine the most effective methods to protect their intellectual property rights wherever they do business....

The careful distinction between property and sovereignty is a central part of legal thought from the early modern period onwards. But the reality shows that this division is socioeconomically not that clear. Property rights are rights against persons in relation to things, but effectively they...

Government authorities can entrust the exploitation of economic activities that are of public interest to certain private actors, for example companies in private law legal bodies. This can be the result of the privatization of former state owned companies. Such privatization can be motivated by...