Blog

Blockchain and artificial intelligence (AI) are often referenced as key developments for the boardrooms of the future. An increasing amount of academic literature is being produced to examine the...

On 23 January 2019, the Financial Conduct Authority (FCA) issued a guidance on cryptoassets (FCA-GC) with the purpose of improving and clarifying the regulatory framework of cryptoassets in the...

In (simple) law and economics models, legal rules are analyzed as elements of the opportunity structure. The parties – or if the relevant decision is taken by the lawyer who seeks a client, the...

Data standardization—the process of developing and implementing rules for how data are described and recorded—offers significant benefits for financial firms and regulators. Nonetheless, the topic...

The most dramatic development in twenty-first century bankruptcy practice has been the increasing use of contracts to shape the bankruptcy process. In our article, we assess—and try to make sense of—...

For over fifty years, class actions in the US have been initiated and litigated by self-driven entrepreneurial lawyers. Lawyers have taken the risks and costs of pursuing class action litigation in...

Power prefers permanence. Unregulated markets tend toward concentration as the successful try and entrench themselves by pulling up behind them the ladder of competition that they themselves climbed...

By many accounts, we have entered an era of unprecedented contentiousness in debtor-creditor relations. For an example of the new status quo, consider the recent actions of PetSmart, a perfectly...

Autonomous Systems and the Law (C.H. Beck/Nomos 2019) by Nikita Aggarwal, Horst Eidenmüller, Luca Enriques, Jennifer Payne, and Kristin van Zwieten (eds) is a collection of papers dealing with the...

For the past several years, the US Congress has been considering various versions of a legislative reform that would amend the Bankruptcy Code to facilitate the prompt reorganization of systemically...

In the 2017 Shareholder Rights Directive, the European Commission emphasizes the importance and role of shareholder engagement and, stresses the case of institutional investors and asset managers’...

In our paper, we empirically study the effect of Chrysler's Chapter 11 bankruptcy filing on the unit sales of its competitors in the U.S. automotive industry. On the one hand, the demand for the...

In 2018, the ruling of the Court of Justice of the European Union (CJEU or Court) in Achmea (C-284/16) shook the world of investment arbitration to the core. By contrast to Advocate General (AG)...

In this article, I document and explain the pervasive influence of nationalist impulses in shaping corporate law around the world and throughout History—a phenomenon which I term “the grip of...

Efforts to reform the international financial architecture towards a regime in which sovereign debt restructurings can be managed in a more ‘orderly’ fashion date back to at least the early 1920s. In...

The CEO pay ratio disclosure rule in the United States (US), adopted as part of the Dodd-Frank Act of 2010, was the first of a kind. Applying to publicly-held companies, it requires disclosure of the...

In the United States, investment advisers to mutual funds (mutual fund advisers), exchange traded funds, and separately managed accounts are typically delegated the authority to vote their clients’...

My article takes stock of legal pluralist thinking in European private law. It starts from Ralf Michaels’ finding that European private law reflects a preference for ‘ordered pluralism’. That term,...

For many years, the continuous disclosure of material information by issuers has been an especially contested topic in financial regulation. The ongoing €9 billion shareholder litigation in the VW/...