The Right of Sovereignty

Bodin’s most important theoretical achievement was to conceptualize sovereignty as an indivisible and portable bundle of legal rights, which he collectively designated ius summi imperii. Sovereignty, on this account, was modelled on the creditor’s in personam right arising from a debt obligation in civil law. Just as a creditor has a right to an actionable remedy enforcing the debtor’s performance of contractual obligations, so too does a sovereign state have a legal right to enforce acts of allegiance owed by its subjects and, in the case of treaty obligations, acts of fidelity owed by foreign obligors. Applying a doctrine of medieval legal science, Bodin traced the source of that sovereign right to the law of nations [ius gentium]. While sovereigns may be exempt from their own legislation [legibus soluti], they always remain legally bound to observe the ius gentium and exercise sovereign rights in accordance with its principles.

How financial products organize spatial networks: Analyzing collateralized debt obligations and collateralized loan obligations as “networked products”

During the 2010s, collateralized loan obligations rapidly became a trillion-dollar industry, mirroring the growth profile and peak value of its cousin—collateralized debt obligations—in the 2000s. Yet, despite similarities in product form and growth trajectory, surprisingly little is known about how these markets evolved spatially and relationally. This paper fills that knowledge gap by asking two questions: how did each network adapt to achieve scale at speed across different jurisdictions; and to what extent does the spatial and relational organization of today's collateralized loan obligation structuration network, mirror that of collateralized debt obligations pre-crisis? To answer those questions, we draw on the global financial networks approach, developing our own concept of the networked product to explore the agentic qualities of collateralized debt obligations and collateralized loan obligations—specifically how their technical and regulatory “needs” shape the roles and jurisdictions enrolled in a global financial network. We use social network analysis to map and analyze the evolving spatial and relational organization that nurtured this growth, drawing on data harvested from offering circulars. We find that collateralized debt obligations spread from the US to Europe through a process of transduplication—that similar role-based network relations were reproduced from one regulatory regime to another. We also find a strong correlation between pre-crisis collateralized debt obligation- and post-crisis collateralized loan obligation-global financial networks in both US$- and €-denominations, with often the same network participants involved in each. We conclude by reflecting on the prosaic way financial markets for ostensibly complex products reproduce and the capacity for network stabilities to produce market instabilities.

Trauma and the Victim Economy

The history of the twentieth century is filled with examples of mass murder and destruction of entire nations. Survivors of those traumatic events have horrific memories, which cannot be compared to anything that may happen in the course of an ordinary quiet life. However, coping strategies for overcoming the consequences of such traumatic experience were also developed in the twentieth century. It was made possible by conceptualisation of trauma as a cultural and psychological phenomenon at the level of theory and practice in various sciences. Introduction of this concept into the flesh and blood of modern (popular) culture, or rather its inclusion in the fabric of everyday cultural practices, transformed the concept of trauma into a mechanism of culture. Trauma developed into a concept, as we know it, because it functioned as one of the cultural clichés of the era, according to which economics, politics, science, literature, etc., are built. Of course, mass exterminations of people took place even before the twentieth century; however, they were not interpreted as historical traumas as we interpret them now because, firstly, a sense of distance from the event was not developed, which is characteristic of traumatic interpretation, and, secondly, the narratives corresponded to other cultural clichés (typical of those epochs), which served as the basis for political mechanics, economic processes, etc. This article identifies the main features characterising the functioning of trauma as a cultural mechanism. This objective is achieved by appealing to political economy and Baudrillard’s and Derrida’s critique of the victim order. In this study the term “loss” is used as an umbrella term for various traumatic constructs, such as the victim and the trauma itself. They are characterised as objects of a credit relationship between subjects (both individual and collective), according to which the victim (trauma) construct could be described as a debt obligation that must be fulfilled by paying off a symbolic debt. The study identifies all the acting forces (parties) in the trauma construct, which give form to this construct. The author draws attention to the spatial (topographical) accent of the traumatic narrative, as well as to the necessity of toponymic localisation of the active forces in space.

Perspektif Sanksi Pidana Kurator Menurut Hukum Kepailitan

Introduction: Some bankruptcy cases eventually evolve into criminal matters when a bankruptcy curator who is responsible in handling and administering bankruptcy case is positioned as defendant charged for conducting criminal acts.Purposes of the Research: The purpose of writing is to find out and analyze the perspective of curator criminal sanctions according to bankruptcy law.Methods of the Research: Normative juridical research, namely an approach based on legal materials by examining concepts, legal principles and legislation related to this research.Results of the Research: Criminal sanctions for non-independent curators aimed at preventing the curator from committing criminal acts in the course of the execution of the duty and maintenance tasks. Here, the role of criminal law is as a guardian of the norms that exist in the Law on Bankruptcy related to the duties and responsibilities of the curator. In order for a curator or committee before declaring his willingness to accept the duties and responsibilities of the consequences of the bankruptcy verdict or the postponement of the debt obligation obligation (PKPU) really ensure that he will not commit a disgraceful act of.

Cardboard Coffins and Vaults of Gold: Debt, Obligation and Scandal in Ecuador’s Response to Covid-19

As the first cases of COVID-19 appeared in Guayaquil—foreshadowing one of world’s most devastating outbreaks—the Ecuadorian government paid $324 billion to bondholders, while forgoing much needed investment in pandemic preparation. This was the opening round for a series of struggles over the costs of containment and treatment of the virus; conflicts over debts foreign and domestic, taxes and corruption, wages and working conditions, and the control of public space. While the pandemic provided a context for the renegotiation of public and social obligations, however, the outcome was that the burden of pandemic containment was placed on those least able to sustain it— especially precariously employed, informal sector workers—deepening existing inequalities at the cost of lives and livelihoods. This paper addresses how this process was manifested through controversies in public culture, including traditional and social media, finding that the predominance of middle class and elite interests and preoccupations— together with the prevalence of scandal as a genre—sidelined the defense of popular lives and livelihoods and reinforcing systemic inequalities.

Recognition of Debt Obligations as Joint Obligations of Spouses: A Case Law Analysis

The paper is devoted to the issues related to the recognition of a debt obligation issued in the name of one of the spouses during their marriage as a joint obligation of the spouses. The author’s study is based on the materials of the generalized case law showing the heterogeneity of the application of Para 2 of Art. 45 of the Family Code of the Russian Federation. The author critically analyzes the approaches developed by judicial practice when deciding the issue of recognition of the debt as joint. In particular, the author investigates acquisition at the expense of credit (borrowed) money of the joint property of the spouses. The author describes disadvantages of the extension by courts of the presumption of spouses’ joint property to debt obligations. It is substantiated that courts must take into account the evidence of obtaining the consent of the spouse and evidence of spending credit (borrowed) money for the needs of the family. The conclusion is made about the need to form legal mechanisms that promote uniform application of Para 2 of Article 45 of the Family Code of the Russian Federation.

Local virtue and global vision: The practice of eye donation in contemporary Sri Lanka

A death radically rearranges kinship, debt, obligation, and responsibility, and it also triggers prescribed routines for mourning and material disposal of the corpse. It is into this complex and fraught unfolding of events that the rhetorics of corporeal

Risk Guarantee Prediction in Networked-Loans

The guaranteed loan is a debt obligation promise that if one corporation gets trapped in risks, its guarantors will back the loan. When more and more companies involve, they subsequently form complex networks. Detecting and predicting risk guarantee in these networked-loans is important for the loan issuer. Therefore, in this paper, we propose a dynamic graph-based attention neural network for risk guarantee relationship prediction (DGANN). In particular, each guarantee is represented as an edge in dynamic loan networks, while companies are denoted as nodes. We present an attention-based graph neural network to encode the edges that preserve the financial status as well as network structures. The experimental result shows that DGANN could significantly improve the risk prediction accuracy in both the precision and recall compared with state-of-the-art baselines. We also conduct empirical studies to uncover the risk guarantee patterns from the learned attentional network features. The result provides an alternative way for loan risk management, which may inspire more work in the future.

PENYULUHAN TENTANG PENUNDAAN KEWAJIBAN PEMBAYARAN UTANG TERHADAP PERJANJIAN SEWA MENYEWA

ABSTRAKPemberian pinjaman oleh Kreditur kepada Debitur didasarkan pada asumsi bahwa Kreditur percaya bahwa Debitur dapat mengembalikan utang tepat pada waktunya. Pelunasan utang oleh Debitur kepada Kreditur tidak selalu dapat berjalan dengan lancar ada kalanya Debitur tidak membayar utangnya kepada Kreditur walaupun telah jatuh tempo. Debitur yang tidak mampu melunasi utangnya, maka harta kekayaan Debitur dikemudian hari menjadi jaminan atas utangnya.Pasal 1131 dan Pasal 1132 KUH Perdata telah mengatur secara khusus mengenai hal utang piutang. Pengabdian pada masyarakat ini dilakukan di kecamatan Mataram Barat, kota Mataram Nusa Tenggara Barat. Karena lokasi ini berada di pusat kota Mataram, maka mobilitas perekonomian sangat tinggi, oleh karena transaksi yang berhubungan dengan masalah utang piutang sangat memungkinkan terjadi. Untuk itu masyarakat perlu diberikan penyuluhan yang berhubungan masalah tersebut. Adapun yang menjadi tujuan dalam kegiatan ini yaitu sebagai berikut: Untuk mengetahui pengaturan mengenai penundaan kewajiban pembayaran utang terhadap perjanjian sewa menyewa. Untuk mengetahui akibat hukum penundaan kewajiban pembayaran utang terhadap perjanjian sewa menyewa. Metode yang dipergunakan adalah penyuluhan dan tanya jawab. Pengaturan mengenai penundaan kewajiban pembayaran utang terhadap perjanjian sewa menyewa diatur dalam Pasal 222 ayat (3) UU No. 37 Tahun 2004, Kreditur yang memperkirakan bahwa debitur tidak dapat melanjutkan membayar utang-utangnya yang sudah jatuh tempo dan dapat ditagih, dapat memohon agar kepada debitur diberi penundaan kewajiban pembayaran utang, untuk memungkinkan debitur mengajukan rencana perdamaian yang meliputi tawaran pembayaran sebagian atau seluruh utang kepada Krediturnya.Akibat hukum penundaan kewajiban pembayaran utang terhadap perjanjian sewa menyewa yaitu debitur tidak dapat melakukan tindakan kepengurusan atau memindahkan hak atas sesuatu bagian dari hartanya, jika debitur melanggar, pengurus berhak melakukan segala sesuatu untuk memastikan bahwa harta debitur tidak dirugikan karena tindakan debitur tersebut. Debitur tidak dapat dipaksa membayar utang-utangnya dan semua tindakan eksekusi yang telah dimulai guna mendapatkan pelunasan utang, harus ditangguhkan dan Debitur berhak membayar utangnya kepada semua kreditur bersama-sama menurut imbangan piutang masing-masing. Kata Kunci: Penundaan kewajiban; hutang; sewa menyewa. ABSTRACTA loan is given based on the assumption that the Creditor believes the Debtor can return the debt on time. Debt repayment might not always run smoothly. There are times when the Debtor does not pay his debt even though it is the due date. Debtors who are unable to repay their debts have a risk that their assets will become collateral for their debts in the future. Article 1131 and Article 1132 of the Civil Code have individually regulated the matters of debt payable. The community service is carried out in the sub-district of West Mataram, the city of Mataram, West Nusa Tenggara. Transactions related to debt and debt problems are highly possible here because this location is the center of the city of Mataram, and the mobility of the economy here is immoderate. For this reason, the public needs counseling related to the problem. The objectives of this activity are as follows: To find out the arrangements regarding the postponement of debt payment obligations to the lease agreement and to find out the legal consequences of the postponement of debt payment obligations to the lease agreement. The method used is counseling and group interview. The regulation concerning the postponement of the obligation to pay the debt to the lease agreement is regulated in Article 222 paragraph (3) of Law no. 37 of 2004 states that the Creditor who estimates that the Debtor cannot continue to pay his/her debts which are due and cannot be billed may request a debt obligation delay to enable the Debtor to submit a composition plan which includes offering partial or full payment of the debt to Creditors. Due to the legal delay of debt payment obligations under the lease agreement, the Debtor cannot take management actions or transfer the rights to any part of his/her property. If the Debtor violates, the management has the right to do everything to ensure that the Debtor's assets are not harmed because of the Debtor's actions. Debtors cannot be forced to pay their debts, and all execution actions that have been initiated in order to obtain debt repayment must be deferred, and the Debtor has the right to pay his debts to all creditors together according to their respective accounts. Keywords: Deferred liability; debt; rent.