scholarly journals US exceptionalism and UK localism? Cross-border insolvency law in comparative perspective

Legal Studies ◽  
2016 ◽  
Vol 36 (1) ◽  
pp. 136-162 ◽  
Author(s):  
Gerard McCormack
Keyword(s):  
American Exceptionalism ◽  
Comparative Perspective ◽  
Insolvency Law ◽  
Cross Border ◽  
The Us ◽  
Us Exceptionalism ◽  
Model Law ◽  
The Uk

This paper addresses how the UNCITRAL Model Law on Cross-Border Insolvency has been implemented and interpreted in the US and the UK. The Model Law has attained a measure of international acceptance and is intended to achieve greater efficiencies in the administration of insolvency cases with transnational dimensions. But different manners of implementation in different countries and differing interpretations may hinder the prospects for harmonisation and coordination of laws. The paper will address in particular whether US interpretations differ from those in the UK and whether the US decisions are so infused with ‘American exceptionalism’ that they cannot be relied upon as sure guides in other countries.

The Incomes of the Plutocrats in a Comparative Perspective

2021 ◽  
pp. 152-171
Author(s):  
Francis Teal
Keyword(s):  
Nineteenth Century ◽  
Income Distribution ◽  
Comparative Perspective ◽  
Average Wage ◽  
Male Character ◽  
Pride And Prejudice ◽  
The Us ◽  
The Rich ◽  
The Uk

We now move to examine the top of the income distribution and begin by asking whether Mr Darcy, the central male character in Jane Austen’s novel Pride and Prejudice, would be regarded as a plutocrat today. If his income were converted to contemporary amounts it would be some £600,000. We show that Mr Darcy would need to earn some £8 million to be as rich as his nineteenth-century predecessor relative to the average wage. To understand how those super-high incomes arise, we introduce the Paretian distribution which we do first informally and then more formally. It is a distribution of this form which could produce what we see, a few very highly paid individuals whose incomes—up in the stratosphere of the super-rich—would still be very spread out. We use the Paretian distribution to estimate the number of plutocrats in the US, the UK, and China and show the incomes of the richest of the rich.

scholarly journals Are Cross Border Acquisitions More Profitable, or Do They Make Profit More Persistent, than Domestic Acquisitions? UK Evidence

2017 ◽  
Vol 10 (6) ◽  
pp. 178
Author(s):  
Abimbola Adedeji ◽  
Maha D. Ayoush
Keyword(s):  
Cross Border ◽  
The Us ◽  
The Cross ◽  
The Uk

Cross border acquisitions were relatively more popular than domestic acquisitions in the UK and many other countries during late 1990s and the beginning of this century (Martynova and Renneboog, 2008, among others).  Apart from attributing it to the wave of globalisation that occurred at the time, hardly any other reason has been given for this phenomenon in the literature. In this paper, we check whether cross border acquisitions were more profitable than domestic acquisitions to bidders, or whether cross border acquisitions made the profitability of bidders to be more persistent than domestic acquisitions, during the period referred to above. Evidence observed from a sample of 199 cross border, and 174 domestic, acquisitions made by firms in the UK during 1996-2003 shows that the cross border acquisitions were significantly less profitable, and that they did not make the profitability of the bidders significantly more persistent, than the domestic acquisitions. These indications are similar to those of the US evidence reported by Moeller and Schlingemann (2005) and raise questions about why cross border acquisitions were relatively more popular than domestic acquisitions during the period referred to above.

scholarly journals EU Armed Forces’ Use of Social Media in Areas of Deployment

2016 ◽  
Vol 4 (1) ◽  
pp. 51-62 ◽  
Author(s):  
Maria Hellman ◽  
Eva-Karin Olsson ◽  
Charlotte Wagnsson
Keyword(s):  
Social Media ◽  
Armed Forces ◽  
Comparative Perspective ◽  
Member States ◽  
Eu Member States ◽  
The Us ◽  
Use Of Social Media ◽  
The Uk ◽  
Social Media Strategy

The advent of social media can be seen both as a risk and an opportunity by armed forces. Previous research has primarily examined whether or not the use of social media endangers or strengthens armed forces’ strategic narrative. We examine armed forces’ perceptions of risks and opportunities on a broad basis, with a particular focus on areas of deployment. The article is based on a survey of perceptions of social media amongst the armed forces of EU member states, thus adding to previous research through its comparative perspective. Whereas previous research has mainly focused on larger powers, such as the US and the UK, this article includes the views of the armed forces of 26 EU states, including several smaller nations. In analyzing the results we asked whether or not risk and opportunity perceptions were related to national ICT maturity and the existence of a social media strategy. The analysis shows that perceptions of opportunities outweigh perceptions of risks, with marketing and two-way communication as the two most prominent opportunities offered by the use of social media. Also, armed forces in countries with a moderate to high ICT maturity emphasize social media as a good way for marketing purposes.

scholarly journals The UK and Digital Trade: Which way forward?

2021 ◽  
Author(s):  
Emily Jones ◽  
Beatriz Kira ◽  
Anna Sands ◽  
Danilo B. Garrido Alves
Keyword(s):  
Global Economy ◽  
Trade Agreements ◽  
Digital Economy ◽  
International Standards ◽  
Policy Implications ◽  
The Internet ◽  
Cross Border ◽  
Data Flows ◽  
The Us ◽  
The Uk

The internet and digital technologies are upending global trade. Industries and supply chains are being transformed, and the movement of data across borders is now central to the operation of the global economy. Provisions in trade agreements address many aspects of the digital economy – from cross-border data flows, to the protection of citizens’ personal data, and the regulation of the internet and new technologies like artificial intelligence and algorithmic decision-making. The UK government has identified digital trade as a priority in its Global Britain strategy and one of the main sources of economic growth to recover from the pandemic. It wants the UK to play a leading role in setting the international standards and regulations that govern the global digital economy. The regulation of digital trade is a fast-evolving and contentious issue, and the US, European Union (EU), and China have adopted different approaches. Now that the UK has left the EU, it will need to navigate across multiple and often conflicting digital realms. The UK needs to decide which policy objectives it will prioritise, how to regulate the digital economy domestically, and how best to achieve its priorities when negotiating international trade agreements. There is an urgent need to develop a robust, evidence-based approach to the UK’s digital trade strategy that takes into account the perspectives of businesses, workers, and citizens, as well as the approaches of other countries in the global economy. This working paper aims to inform UK policy debates by assessing the state of play in digital trade globally. The authors present a detailed analysis of five policy areas that are central to discussions on digital trade for the UK: cross-border data flows and privacy; internet access and content regulation; intellectual property and innovation; e-commerce (including trade facilitation and consumer protection); and taxation (customs duties on e-commerce and digital services taxes). In each of these areas the authors compare and contrast the approaches taken by the US, EU and China, discuss the public policy implications, and examine the choices facing the UK.

An Introduction to Corporate Insolvency Law and Reforms in Australia

2019 ◽  
pp. 107-131
Author(s):  
Amit Kumar Kashyap ◽  
Urvashi Jaswani ◽  
Anchit Bhandari ◽  
Yashowardhan S. N. V. Dixit
Keyword(s):  
Australian Government ◽  
Insolvency Law ◽  
Cross Border ◽  
Basic Framework ◽  
Corporate Insolvency ◽  
Model Law ◽  
Insolvency Proceedings ◽  
Legal Infrastructure

The Corporations Act of 2001 regulated the probable insolvency proceedings of all companies incorporated in Australia and companies incorporated or possessing separate legal. For personal insolvency, a specific legislation called Bankruptcy Act is there, but the basic framework of corporate insolvency law has been there since the inception of Corporations Act 2001 enactment, which includes all the aspects of company formation, management, governance, and dissolution. The authors have highlighted recent reforms; however, the main concentration of this chapter is on the legal infrastructure of corporate insolvency law at present as the reforms are not yet in force. The chapter also puts forth the problems faced by corporate debtor and creditors in the proceedings of insolvency resolution and has also expressed the scenario of cross-border insolvency in Australia in light of UNICTRAL Model law of cross-border insolvency which has been adopted by the Australian government in 2008.

From Hundreds to Billions of Dollars of Income

2021 ◽  
pp. 1-17
Author(s):  
Francis Teal
Keyword(s):  
Nineteenth Century ◽  
Comparative Perspective ◽  
Poor People ◽  
Poor Countries ◽  
The Poor ◽  
The Us ◽  
Using Data ◽  
The Uk ◽  
Global Growth

This is a book about inequality. About the fact that we live in a world of very many poor people and a very few extremely rich ones—the poor and the plutocrats of its title. In this chapter we frame the question posed by the book—how one can move from such poverty to such riches?—using data from the UK, the US, and poor countries. If a longer term, and comparative, perspective is taken on incomes and inequality the problem is not to explain a rising tide of poverty—there isn’t one—nor is it to explain how capitalism generates ever-increasing inequality—it hasn’t. The problem is much more complicated. How can we explain such large changes in both incomes and in inequality as have occurred since the start of sustained global growth in the early part of the nineteenth century?

The International Dimension: Cross-border Groups

2016 ◽  
Author(s):  
Michael Schillig
Keyword(s):  
Global Financial Crisis ◽  
Applicable Law ◽  
Cross Border ◽  
The Us ◽  
Key Issues ◽  
The Cross ◽  
Model Law ◽  
The Global Financial Crisis ◽  
Financial Groups ◽  
Group Law

The difficulties associated with the supervision and failure resolution of cross-border financial groups were among the key issues that came into renewed focus as a result of the global financial crisis. The cross-border dimension affects the recovery and resolution process in its entirety from the initial planning phase right through to liquidation. The chapter summarizes the elements of cross-border group law mentioned in previous chapters. It looks briefly at the US framework and the changes introduced through the Dodd–Frank Act. It discusses international jurisdiction of authorities and courts, the applicable law that governs proceedings, and the recognition and effects of foreign proceedings, in particular, in accordance with Directive 2001/24/EC on the reorganization and winding up of credit institutions and investment firms and the UNCITRAL Model Law on Cross-Border Insolvency. It also analyses the new European framework for co-operation in the cross-border group resolution context.

Introduction

2016 ◽  
Author(s):  
Reinhard Bork ◽  
Renato Mangano
Keyword(s):  
European Union ◽  
The Other ◽  
Soft Law ◽  
Judicial Activism ◽  
The European Union ◽  
Insolvency Law ◽  
Cross Border ◽  
Model Law ◽  
Concise Description

This chapter is an introduction to the issues involved in cross-border insolvency cases and their regulation as covered by the EIR, which recast the OR. It also provides a view-from-the-cathedral of EU Regulation 2015/848; a concise description of its history, aims, and principles; as well as a list of the other relevant sources of law, including those of soft law such as the UNCITRAL Model Law and the European Communication and Cooperation Guidelines for Cross-border Insolvency (the so-called ‘CoCo Guidelines’). Finally, the role of the Court of Justice of the European Union (CJEU) for the interpretation of European insolvency law and its judicial activism are analysed.

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