Share Classes in Investment Funds and Fair Treatment of All Investors
The market for open-end and closed-end ordinary or alternative funds—Undertakings for Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs)—has significantly grown in the US and, later, in…
Law and Finance in Britain c.1900
Over the past two decades, a series of influential papers in economics and finance have found institutions to be powerful predictors of economic and financial development that exert persistent effects…
The Valuation and Governance Bubbles of Silicon Valley
The rise and fall of The We Company IPO bubble is one of those events that, like the subprime mortgage bubble that preceded the financial crisis, calls for an examination…
Who Owns Bitcoin? Private (International) Law Facing the Blockchain
The widespread use of virtual currencies and other crypto assets may lead to problems that have been well-known for centuries in private law. The media reveal on an almost daily…
Globalization, Lawyers, and Emerging Economies: The Rise, Transformation, and Significance of the New Corporate Legal Ecosystem in India, Brazil, and China
Our forthcoming Article in the Harvard International Law Journal (Spring/Summer 2020) addresses an important but understudied topic of relevance to academics from a wide range of disciplines who study globalization, and to…
Consumer Law Myopia
The consumer credit market for low-income households in the United States is characterized by high interest rates, harsh default terms, and exotic fee schedules with low upfront fees and outsized…
Welcome to Vilnius: Regulatory Competition in the EU Market for E-Money
If you google ‘Lithuania e-money’, the auto-fill function will suggest that you search for ‘Lithuania e-money license’. If you accept the tip, the first result will be Ecovis, which describes itself as…
Bankruptcy and teams
Corporate bankruptcies constitute an important mechanism for the economy to purge itself of obsolete firms and allocate their constituent parts to more productive uses. This process of reallocation of human…
Back to the Future: Waves of Legal Scholarship on Artificial Intelligence
In the past years, legal scholarship on technology matters has become ubiquitous. Topics such as self-driving cars, predictive policing or discriminatory profiling are only a few examples of trending legal…
A Functional Law and Economics Analysis of the Restructuring Directive
From a functional law and economics perspective, the recent European restructuring directive (the ‘Directive’) brings both welcome innovations and multiple pitfalls. Its final text bears the traces of the divergent…
