8 Close-Out Netting and Safe Harbours

2020 ◽  
Keyword(s):  
Credit Risk ◽  
Legal Framework ◽  
Legal Issues ◽  
Early Termination ◽  
Insolvency Law ◽  
The Law ◽  
Safe Harbours ◽  
Multiple Jurisdictions

This chapter studies the early termination of collateral transactions. It is in this context that the transactions must prove their worth, i.e. must show they indeed reduce or limit the credit risk the collateral taker runs on the collateral provider. To achieve this result, contractual techniques have been developed that have subsequently been sanctioned and protected by the law. The chapter looks at the legal framework regulating those contractual techniques. However, the early termination of collateral transactions and the enforcement by the collateral taker of its rights in the assets provided as collateral involve specific legal issues. The majority of collateral transactions provide for 'close-out netting' as a way of enforcement; close-out netting thus replaces traditional enforcement of security interests, such as public auction. In addition, the termination of collateral transactions, and close-out netting in particular, in multiple jurisdictions is protected by 'safe harbours', i.e. shielded from insolvency law rules that would otherwise be applicable.

The law applicable to third-party effects of assignment and the conflict rules for insolvency according to EU law

2019 ◽  
Vol 24 (4) ◽  
pp. 664-684
Author(s):  
Christian Heinze ◽  
Cara Warmuth
Keyword(s):  
Case Law ◽  
Legal Framework ◽  
Third Party ◽  
Legislative Process ◽  
Insolvency Law ◽  
Ongoing Debate ◽  
Good Opportunity ◽  
Insolvency Regulation ◽  
The Law ◽  
The Eu

Abstract In March 2018, the European Commission issued its proposal for a regulation on the law applicable to third-party effects of assignments of claims, aiming to put an end to the ongoing debate on this issue and the legal uncertainty associated with it. On the basis of the Commission’s decision in favour of the application of the law of the assignor’s habitual residence, this article discusses the consequences of the Proposal under European Union (EU) insolvency law. For that purpose, the coherence of the Proposal with the Insolvency Regulation will be examined, first in general and then in more detail. The analysis comes to the result that the Commission’s objective of aligning the Proposal with the legal framework of the Insolvency Regulation has predominantly been well achieved. The authors point out remaining minor inaccuracies that may be clarified in the further legislative process or by later case law. It is concluded that, from the perspective of international insolvency law, the proposed uniform conflict-of-laws rule at the EU level offers a good opportunity to promote legal certainty with regard to cross-border assignments of claims in the future.

Part II A View Through Illustrative Contracts and Harmonizing Instruments, 15 Transactions in Securities

2015 ◽  
Keyword(s):  
Legal Framework ◽  
Regulatory Framework ◽  
Property Law ◽  
International Treaties ◽  
Insolvency Law ◽  
Conflict Of Laws ◽  
Paper Form ◽  
The Hague ◽  
The Law

Chapter 15 examines the transnational legal framework for intermediated securities. It describes the shift from a world in which securities were primarily held and traded in paper form to a market in which they are held in immobilized or dematerialized form and traded through intermediaries. This shift required changes to national and regional legislation and resulted in the adoption of two international treaties: the Hague and Geneva Securities Conventions. The chapter pays attention to aspects of property law, the law of obligations, insolvency law, conflict of laws, and the regulatory framework for intermediated securities. Particular information is provided on financial collateral transactions and close-out netting.

Naval mines: Legal considerations in armed conflict and peacetime

2016 ◽  
Vol 98 (902) ◽  
pp. 543-565 ◽  
Author(s):  
David Letts
Keyword(s):  
Armed Conflict ◽  
Legal Framework ◽  
Legal Issues ◽  
Relevant Factor ◽  
Armed Groups ◽  
Early Twenty ◽  
Late Twentieth ◽  
The Law

AbstractThe purpose of this article is to examine the key elements of the legal framework in which naval mines are used both across the spectrum of conflict and during peacetime. The article will also consider the legal issues associated with the use of mines by States in international armed conflict, and address the distinct legal issues which arise in non-international armed conflict, where the emergence of an increasing presence of non-State armed groups has been a hallmark of the late twentieth and early twenty-first centuries. The obligations placed upon States in peacetime, and under the law of neutrality, when the use and presence of naval mines is a relevant factor will also be analyzed.

scholarly journals Fairness in Algorithmic Decision-making

Amicus Curiae ◽  
2019 ◽  
Vol 1 (1) ◽  
pp. 84-96
Author(s):  
Adam Harkens
Keyword(s):  
Decision Making ◽  
Legal System ◽  
Legal Framework ◽  
Legal Issues ◽  
Public Authorities ◽  
Policy Choices ◽  
Trade Offs ◽  
The Law

This article discusses conceptions of fairness in algorithmic decision-making, within the context of the UK’s legal system. Using practical operational examples of algorithmic tools, itargues that such practices involve inherent technical trade-offs over multiple, competing notions of fairness, which are further exacerbated by policy choices made by those public authorities who use them. This raises major concerns regarding the ability of such choices to affect legal issues in decision-making, and transform legal protections, without adequate legal oversight, or a clear legal framework. This is not to say that the law does not have the capacity to regulate and ensure fairness, but that a more expansive idea of its function is required.

scholarly journals Legal issues encountered by translators and interpreters in Romania, in their activity

2019 ◽  
Vol XXII (2) ◽  
pp. 126-132
Author(s):  
Istratie-Macarov A. L.
Keyword(s):  
Fire Safety ◽  
Daily Activity ◽  
Health And Safety ◽  
Financial Statements ◽  
Legal Framework ◽  
Legal Issues ◽  
Practical Approach ◽  
The Law

This article is an analysis of the legal framework which regulates the activity of translators and interpreters in Romania. This is not an exhaustive analysis, since legislation is constantly changing and the activity of each translator is different. However, it covers the main aspects a translator should keep in mind when setting up shop. The article is organized around the main institutions which affect the authorization and the activity of translators and interpreters. The analysis focuses both on activity-specific requirements and on requirements targeting sole traders and companies, which cover, among others, health and safety, fire safety, financial statements and GDPR. Taxation is another point in the analysis. The article has a practical approach, discussing some of the difficulties a translator might face in their daily activity, when dealing with the requirements of the law.

Mental Health and the Law

2019 ◽  
pp. 373-402
Author(s):  
Deborah Agus ◽  
Kristin E. Schneider
Keyword(s):  
Public Health ◽  
The United States ◽  
Legal Framework ◽  
Legal Issues ◽  
Individual Rights ◽  
Legal Structure ◽  
The Law ◽  
Constitutional System ◽  
The Individual ◽  
Health Service System

The law lays the framework for all government systems, and public health is no exception. Understanding the legal framework of the United States is essential to designing a functional and legitimate behavioral health service system. The unique structure of US law, which is a constitutional system balanced by statutes and which is federalist in principle, creates both opportunities and challenges to a public health system that similarly strives to balance individual needs and rights with the health and needs of the community. The chapter explains how law is developed and delves into current legal issues that are understood through the lens of a permanent legal structure as interpreted over time. The chapter begins with an explanation of the legal system and legal methods and then explores issues related to individual rights and concerns such as dangerousness, right to treatment, coercive treatment, and the individual rights of choice. When finished, the reader will have a comprehensive outlook providing a tool to analyze issues that are current and dynamic.

scholarly journals The Legal Framework of Corporate Rescue Procedure: A Brief Overview

2015 ◽  
Vol 4 ◽  
pp. 57-65
Author(s):  
Saquib M Shadman
Keyword(s):  
Present Status ◽  
Legal Framework ◽  
Insolvency Law ◽  
The Law ◽  
Corporate Rescue ◽  
Rescue Procedures ◽  
Rescue Procedure ◽  
Insight Into

This paper is designed to throw an insight into the legal framework of corporate rescue procedure of the companies in the case of insolvency which are generally governed by insolvency laws. It analyzes the present status and application of insolvency law of our country in the context of companies, by comparing the same with the law of England & Wales. The paper contains major provisions of the present law relating to corporate rescue procedures in English jurisdiction including landmark judgments given in that context. By this comparison, the paper aims to provide the reader with the instigation of thought for making possible improvements in our present law by way of implementing rescue procedures for companies which are in financial difficulties.Northern University Journal of Law Vol.IV 2013; p.57-65

The Impact of Emerging Technologies on the Law of Armed Conflict

2019 ◽  
Keyword(s):  
Armed Conflict ◽  
New Technologies ◽  
Emerging Technologies ◽  
Legal Issues ◽  
Technological Advancement ◽  
Law Of Armed Conflict ◽  
Legal Challenges ◽  
Challenges And Opportunities ◽  
The Law ◽  
The Impact

Emerging technologies have always played an important role in armed conflict. From the crossbow to cyber capabilities, technology that could be weaponized to create an advantage over an adversary has inevitably found its way into military arsenals for use in armed conflict. The weaponization of emerging technologies, however, raises challenging legal issues with respect to the law of armed conflict. As States continue to develop and exploit new technologies, how will the law of armed conflict address the use of these technologies on the battlefield? Is existing law sufficient to regulate new technologies, such as cyber capabilities, autonomous weapons systems, and artificial intelligence? Have emerging technologies fundamentally altered the way we should understand concepts such as law-of-war precautions and the principle of distinction? How can we ensure compliance and accountability in light of technological advancement? This book explores these critical questions while highlighting the legal challenges—and opportunities—presented by the use of emerging technologies on the battlefield.

Transgender Students

2018 ◽  
Author(s):  
Suzanne E. Eckes ◽  
Maria M. Lewis
Keyword(s):  
School Districts ◽  
Gender Identity ◽  
Legal Framework ◽  
Legal Issues ◽  
Cutting Edge ◽  
Legal Authority ◽  
Relevant Research ◽  
Student Records ◽  
Growing Body ◽  
Transgender Students

Controversies over school policies that impact transgender students have garnered increased attention in recent years. For example, some transgender students have been prohibited from using the restroom that aligns with their gender identity, and others have not been addressed by their preferred names. Thus, in this chapter, we focus on cutting-edge issues that relate specifically to transgender students. In doing so we explore the legal landscape related to transgender student inclusion. We will begin with an overview of relevant research, followed by a presentation of the legal framework and finishing with a discussion of important legal issues, including topics such as access to facilities, privacy, pronouns and student records, athletics, and dress codes. As this chapter will demonstrate, unprecedented efforts in research have revealed alarming inequities experienced by transgender individuals. Concurrently, with some limitations or exceptions, there is a growing body of legal authority that has been successfully relied upon to protect the rights of transgender students. To be certain, the law impacting transgender individuals is multifaceted and evolving. Of notable significance, transgender students who have initiated legal claims against school districts for their discriminatory practices have all ended in favorable outcomes for the students.

scholarly journals Regulating the Tyrell Corporation: the Emergence of Novel Beings

2021 ◽  
Vol 30 (3) ◽  
pp. 421-434
Author(s):  
David R Lawrence ◽  
Sarah Morley
Keyword(s):  
Computer Science ◽  
Moral Status ◽  
Homo Sapiens ◽  
Legal Issues ◽  
Moral Issues ◽  
Epochal Change ◽  
The Law

AbstractEmerging biotechnologies and advances in computer science promise the arrival of novel beings possessed of some degree of moral status, even potentially sentient or sapient life. Such a manifestation will constitute an epochal change, and perhaps threaten Homo sapiens’ status as the only being generally considered worthy of personhood and its contingent protections; as well as being the root of any number of social and legal issues. The law as it stands is not likely to be capable of managing or adapting to this challenge. This paper highlights the likely societal ramifications of novel beings and the gaps in the legislation which is likely to be relied upon to respond to these. In so doing, the authors make a case for the development of new regulatory structures to manage the moral issues surrounding this new technological upheaval.

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