Against the backdrop of enormous technological strides, this book argues that the air transport industry must be constantly vigilant in its efforts to employ a legal regime that is applicable to the aeronautical and human aspects of the carriage by air of persons and goods. In this regard, safety and security are of the utmost importance, both in terms of safe air navigation and the preservation of human life. Although the International Civil Aviation Organization (ICAO) addresses legal issues through its Legal Committee, many emerging issues that urgently require attention lie outside the Committee's purview. This book analyzes in detail the items being considered by ICAO's Legal Committee, considers the legal nature of ICAO, and discusses whether or not ICAO's scope should be extended. Since the limited issues currently addressed by ICAO do not reflect the rapidly changing realities of air transport, the book also covers a broad range of key issues outside the parameters set by ICAO, such as: the need to teach air law to a new generation of aviation professionals; combating cyber-crime and cyber-terrorism; the regulation of artificial intelligence; traveller identification; interference with air navigation; human trafficking; unruly passengers; climate change; air carrier liability for passenger death or injury; Remotely Piloted Aircraft Systems (drones); and the cabin crew and their legal implications.

This textbook deals with the foundations and key issues of corporate insolvency law and approaches the topic from a comparative perspective, i.e. it does not concentrate on one insolvency law in particular but rather introduces the relevant rules from various jurisdictions, primarily England (and Wales), France, Germany, and those of the USA. It is case focused and designed for learning and teaching corporate insolvency law.

The fundamental goal of competition law is to support productivity and innovativeness; in fact, the short-term effect of enforcement actions is often a reduction in product prices. This comprehensive book reports the findings of consumer market studies into a range of goods and services in developing countries in Africa, Asia and Latin America. These country case studies demonstrate the important role that competition authorities can have in assessing the nature of markets and making recommendations to policymakers to improve them. When competition is weak or compromised, extra costs are imposed on consumers. The authors investigate this issue for a wide range of key markets serving consumers individually or collectively, looking also at the hinterland of the distribution chain behind retail sales. They find a pervasive lack of competition in those markets, which not only softens the incentives on firms to improve the efficiency of their operations and the quality of their products, but also reduces the standard of living of consumers, including poor and vulnerable groups. This book concludes by noting the follow-up actions taken in each country in response to the research recommendations. Graduate students of economics, political science and law will find this book invaluable for its practical case studies, and analysts will find much interest in the nuanced analysis of markets, policy interventions and reform options. Emminently practical, Competition Policies and Consumer Welfare is an ideal resource for competition practitioners and policymakers seeking to improve current competition regimes.

EU investment in China has increased dramatically since the early 1990s and is poised to increase further in light of Chinas recent accession to the World Trade Organisation. This book explores and critically appraises the existing legal framework governing EU-China investment relations,particularly EU investment in China. The current legal framework is composed of Chinese law, EU law and applicable international law, but the Chinese law is unsystematic and hard to discover and the EU has acquired only shared external investment competence which is vaguely defined. The applicable international treaties are incomplete, incoherent, or either too general or too specialised. Besides this, the international fora to settle investment disputes are still not readily available. Furthermore while law has played a very important role in decision-making by EU investors, the Chinese legal system is generally perceived as ineffective and lacking in effective enforcement of court and arbitration decisions. What the book demonstrates is that the time is ripe for a new international legal framework for foreign investment in China, and that as EU-China economic and political relations continue to improve, construction of such a framework is not only necessary, but also possible.

Thirteen national jurisdictions are covered in depth in this book. There are also general chapters on the global impact of merger legislation in the European Union and the United States, tax regimes, and private international law. Among the salient factors discussed in context as they arise are the following: a company's debt-to-equity ratio; the role of hedge funds; the role of private equity firms; and, currency mismatches. The authors, each an expert in his or her own country's insolvency law regime, provide precise information on the eligibility requirements, restrictions, and other provisions of the laws they discuss. They also analyze the important relevant cases in their jurisdictions. The jurisdictions covered in this book include: Argentina; Australia; Brazil; Canada; England and Wales; France; Hong Kong; India; Italy; Japan; Poland; Turkey; and, USA.

The globalisation of markets has pushed static, territorially-bounded legal structures towards a more rapid and efficient adaptation to the globalised and regionalised reality. In addition, substantial modifications in the structure and activities of financial institutions have increased risks and the need for new regulatory responses. Efforts to harmonise commercial law within the global order have resulted in a fragmented and ad hoc process, constructed according to multiple different interests and in order to preserve public policies in the face of transnational challenges. This book is the first to systematically analyse the current state of commercial law from a global perspective. The author seeks to both identify the reasons that are fostering the harmonisation process and to explain the ways in which it is developing. Among the relevant elements examined in this thorough analysis are the following: how emerging countries are absorbing international standards (with a special case study of Brazil); the impact of corporate activities on legal systems; the role of the corporation in promoting the standardisation of laws; issues of social responsibility and corporate accountability; justifications for the regulation of the corporate world; free trade vs. "fair trade"; the impact of treaty reservations and different forms of treaty incorporation into national legal systems; interaction between regional trade agreements and the WTO system; how movements of capital are reflected in international initiatives as well as in regional legislation and regulation; co-operation among national financial authorities; the emerging new lex mercatoria; and, the role of professional associations such as the International Chamber of Commerce (ICC).

The European Commission's proposed Common Consolidated Corporate Tax Base (CCCTB) is the most ambitious project in the history of direct taxation within the EU. While retaining the right of Member States to set their own corporate tax rate, the proposed system allows for a 'one-stopshop' for filing tax returns and consolidating prof its and losses across the EU. In this book - the first to offer guidance to practitioners whose work will be affected by these new developments - 19 prominent representatives of the business community, tax consultancy, academic taxation scholarship and tax administration discuss the proposed system's rationale, structure and uncertainties, ranging from very technical aspects, to the wording of the proposal, to political considerations. These topics include the following: eligibility; formation of a group; the concept of 'permanent stablishment'; foreign tax credits; 'dual resident' companies; consequences of entering and leaving; depreciation of fixed assets; repackaged asset transfers; appeals procedure; disagreements among Member States; subsidiarity and the 'yellow card procedure'; international aspects and tax treaties; sharing mechanism and transfer pricing; and anti-abuse rules.

How the Chicago School Overshot the Mark is about the rise and recent fall of American antitrust. It is a collection of 15 essays, almost all expressing a deep concern that conservative economic analysis is leading judges and enforcement officials toward an approach that will ultimately harm consumer welfare.
For the past 40 years or so, U.S. antitrust has been dominated intellectually by an unusually conservative style of economic analysis. Its advocates, often referred to as "The Chicago School," argue that the free market (better than any unelected band of regulators) can do a better job of achieving efficiency and encouraging innovation than intrusive regulation. The cutting edge of Chicago School doctrine originated in academia and was popularized in books by brilliant and innovative law professors like Robert Bork and Richard Posner. Oddly, a response to that kind of conservative doctrine may be put together through collections of scores of articles but until now cannot be found in any one book. This collection of essays is designed in part to remedy that situation.
The chapters in this book were written by academics, former law enforcers, private sector defense lawyers, Republicans and Democrats, representatives of the left, right and center. Virtually all agree that antitrust enforcement today is better as a result of conservative analysis, but virtually all also agree that there have been examples of extreme interpretations and misinterpretations of conservative economic theory that have led American antitrust in the wrong direction. The problem is not with conservative economic analysis but with those portions of that analysis that have "overshot the mark" producingan enforcement approach that is exceptionally generous to the private sector. If the scores of practices that traditionally have been regarded as anticompetitive are ignored, or not subjected to vigorous enforcement, prices will be higher, quality of products lower, and innovation diminished. In the end consumers will pay.

Now in its second edition, Cybercrime: Key Issues and Debates provides a valuable overview of this fast-paced and growing area of law. As technology develops and internet-enabled devices become ever more prevalent, new opportunities exist for that technology to be exploited by criminals. One result of this is that cybercrime is increasingly recognised as a distinct branch of criminal law. The book offers readers a thematic and critical overview of cybercrime, introducing the key principles and clearly showing the connections between topics as well as highlighting areas subject to debate. Written with an emphasis on the law in the UK but considering in detail the Council of Europe's important Convention on Cybercrime, this text also covers the jurisdictional aspects of cybercrime in international law. Themes discussed include crimes against computers, property, offensive content, and offences against the person, and, new to this edition, cybercrime investigation. Clear, concise and critical, this book is designed for students studying cybercrime for the first time, enabling them to get to grips with an area of rapid change.

The waves rippling out from the attacks of September 11, 2001 have touched the U.S. workplace profoundly. From policy-driven rationales for discrimination to marked increases in workers' emotional disorders, the entire fabric of employment in the U.S. bristles with a web of unprecedented legal issues.Dealing with a wide range of these important and troubling matters, this remarkable book offers seventeen insightful evaluations of some of the core relevant concerns, including the following: workplace discrimination in the context of the war on terror; profiling based on nationality; English-only rules; protections provided to immigrant workers; "enemy combatant" designation; electronic information generated about employees; monitoring electronic mail; military leaves of absence; vulnerability to labor strikes in an age of terror; efforts to limit labor's freedom of association based on security-related arguments; impact of national security concerns on federal government employees; employee assistance programs; mental injuries such as post-traumatic stress disorder; and workers' stress in the context of federal workplace statutes.As workers, firms, and governments adapt to the new environment of global insecurity, this book will prove invaluable to all professionals engaged in ensuring the economic health of the U. S. workplace. These papers are sure to provide practitioners, agencies, and academics with a clearly outlined starting point for the debates to come.

At a time when there are still a number of voices calling for the Internet to remain a law-free zone, a whole bundle of conflicts have already emerged, many of which have found their way to lawyers and the courts in a substantial number of different jurisdictions. It surely now cannot be doubted that the Internet, like any other place in the world where people come together and follow their own interests, needs rules to be developed for the handling of such conflicts. Lawyers have already reacted and have created a new area of law, commonly called "law of the Internet" or "cyberlaw". This area, however, is far from being strictly defined. It touches on many existing areas of law, but at the same time it deals with a wholly new medium - cyberspace - which itself is subject to constant change and development. Under these circumstances, it is not surprising that in a number of cases the predictions as to how this law will look at some selected moment in the future are vague and uncertain. This is particularly true for the commercial side of the Internet, for which the term "e-commerce" has been coined. So rapid have been the developments of e-commerce, that it is now frequently said that this is the future of any commerce and that it carries the potential for enormous growth - at least for the business to business ("B2B") sector. This text covers some important legal issues arising in e-commerce.

This book demonstrates how economics is used in cases of competition in Japan. Competition between firms is usually the most effective way of allocating economic resources and achieving consumer and producer welfare. At the same time, a balance must be struck; firms must not be over-regulated, but neither must they be completely free to create a monopoly or oligopoly. Therefore, the role of competition policy is to maintain a balance by using the collaborative economics of industrial organization. The book uses economic analysis to evaluate case studies on Japanese anti-monopoly law, the Act Concerning Prohibition of Private Monopolization and Maintenance of Fair Trade (AMA), and enforcement in e.g. cartel cases, private monopolization cases, and merger cases. The Japan Fair Trade Commission implements a competition policy, primarily through the enforcement of the AMA, which promotes ingenuity and innovation in business by guaranteeing and enhancing fair and free competition, thereby ensuring economic vitality and consumer benefit. This book is the first authoritative and compact work on competition policy in Japan, which has a more-than-70-year history and is based on solid legal principles. In addition, the book seeks to promote law enforcement based on economic analysis, and includes studies describing the enforcement mechanisms used. It provides comprehensive yet concise information on the structure of the AMA, recent cases, and economic analysis. It also explains the circumstances regarding recent cases and analyzes how the economic policy has been applied to actual cases.

Every year, top-level market regulators, academics and legal practitioners attend the Annual Competition Workshop organised at the European University Institute in Florence. The speakers are invited to discuss a particular set of critical issues in the field of competition law and policy. The entire content of the proceedings - both the oral discussions and the written contributions - are published in the European Competition Law Annual series. This is the fourteenth in the series, reproducing the debate which in 2009 examined the evaluation of evidence and its judicial review in competition cases. The issues discussed included, among others, the burden of proof, the standard of proof and the standard of review with respect to antitrust infringement decisions and merger decisions, both at the level of the EU and at the national level in a number of Member States. In 2009, the Workshop participants were: Rafael Allendesalazar Kelyn Bacon Judge Gerald Barling Simon Bishop Judge Joachim Bornkamm Judge Michael Boudin Jochen Burrichter Dennis Carlton Fernando Castillo de la Torre Justin Coombs Lorenzo Coppi Claus-Dieter Ehlermann John Fingleton Ian Forrester Judge Nicholas Forwood Eric Gippini-Fournier Barry Hawk Alberto Heimler Per Hellstroem Pieter Kalbfleisch Robert Kwinter Bruno Lasserre Philip Lowe Mel Marquis Damien Neven Judge Aindrias O Caoimh Luis Ortiz Blanco John Ratliff J. Thomas Rosch Heike Schweitzer Mario Siragusa Jacques Steenbergen James Venit Judge Nils Wahl Judge Vaughn Walker

A comprehensive, stimulating introduction to trusts law, which provides readers with a clear conceptual framework to aid understanding of this challenging area of the law. Aimed at readers studying trusts at an undergraduate level, it provides a succinct and enlightening account of this area of the law.
Concise and clear, this book also identifies and discusses many analytical perspectives, encouraging a deeper understanding of the issues at hand. It offers an outstanding treatment of specific areas, in particular remedial constructive trusts and trusts of family homes. Ideal for providing a broad background to the issues before embarking on an in-depth study of trusts, it can also be used to help the reader to develop their understanding. For those looking to challenge themselves, detailed footnotes highlight further issues and point the direction for future reading.
Fully revised to take into account the Charities Act 2006, judicial developments through case law, and recent academic work in this area, this new edition in the renowned Clarendon Law Series offers a well-written, careful, and insightful introduction to the law of trusts.

Antitrust is 'a blunt instrument aimed at the wrong problem'. So say the authors of this provocative and contentious book, both of them well-known for providing antitrust support and training in many developing economies and for serving as antitrust experts on behalf of private parties targeted by antitrust authorities. Drawing on their wide experience, they describe how antitrust/ competition rules in developing economies curtails innovation and entrepreneurship under what the U.S. Supreme Court has blasted as the 'chilling effects of false positives'. Moreover, they point out, entrenched interest groups in developing countries quickly discover that soliciting preferential treatment from the state, which leads to state-sponsored non-tariff barriers, is more attractive than private cartelization, not least because it is perfectly legal and thus beyond the reach of antitrust law enforcement efforts. What the authors offer is a thoroughgoing analysis clearly demonstrating that, whatever economic path developing countries pursue, imposing Western-style antitrust regimes will engender uncertainty, chill economic behaviour, and foster an unhealthy climate for business. They employ the influential error-cost methodology to appraise the performance of competition policy and to show how such a policy creates irresolvable tensions in fragile economies with weak institutions - economies characterized by informal rules of business practice, long-standing symbiotic business state relationships, and unpredictable state action. They mount a powerful critique of the arguments of neo-institutionalists (who fail to recognize the vulnerable nature of emerging market economies) and competition 'advocates' (who presume to stand ready and vigilant to enforce competition policy on state entities). But competition policy in developing economies is not an irremediable mistake. Such regimes need not adhere to an inappropriate Western model, the authors maintain, to find cheaper and more effective ways to foster competition. As a detailed and insightful description and framework defining the limits to antitrust in developing (and especially least-developed) countries, this study promises to extend the debate that should precede any consideration of globally extending competition policy in its current version. Crafters of policies and rules in competition law and administration cannot fail to gain in depth of understanding from this new approach to the subject.

The Cayman Islands is one of the world's leading jurisdictions for the establishment of offshore trusts. However, it is not easy for a practitioner to approach the drafting of a Cayman Islands trust instrument with confidence. This eminently practical book solves that problem to near perfection. Arranged as a collection of precedents, with each provision of every precedent explained in detail, "Drafting Cayman Islands Trusts", could hardly make the drafting process easier. The drafter learns the advantages and potential pitfalls associated with each provision as he or she prepares to draft it. The authors provide specific language, although individual variations (based on the authors' expert guidance) are encouraged. The precedents covered include the following: Discretionary trusts (with and without protectors); Interest in possession trust; Reserved powers trust; Charitable trust; STAR trusts; and, Appointments and retirements of trustees. For additional convenience, the precedents are also provided in Word format on a CD-ROM that comes with the book. The detailed annotation answers such key questions as the following: Are hostile beneficiaries clauses valid? Do automatic flee clauses work? What powers can a settlor reserve? How can STAR trusts be used to protect trustees holding high-risk assets? Would STAR trusts be recognised in other jurisdictions? How can one restrict a beneficiary's right to information and trust documents? Can the appointment of a foreign trustee discharge a retiring Cayman trustee? What indemnities should retiring trustees request from successors? As a systematic approach to drafting Cayman Islands trusts, this book will be of immeasurable day-to-day value to practitioners and administrators alike.

Recognizing that inclusion of 'groups' or 'concerns' in the assessment of antitrust enforcement is essential to prevent undertakings from circumventing the Treaty's antitrust provisions, the author of this in-depth analysis critically evaluates relevant ECJ cases and Commission pronouncements in order to determine whether current practice under the single economic entity doctrine amounts to an appropriate and effective enforcement of this increasingly significant aspect of European competition law. Among the issues and topics analysed are the following: the group or concern privilege under Article 101 (1) TFEU; the application of the single economic entity concept for the attribution of liability; the burden of proving 'decisive influence'; the parent company's rights of defence; corporate reorganizations; 'piercing the corporate veil'; control versus dominance; the requisite degree of control; potential versus actual control; the standards of legal separation and organizational autonomy; the existence of a common commercial strategy or financial dependence; and the extension of jurisdiction in antitrust matters. In a framework of analysis drawn up in the final chapter, policy considerations are presented that not only reflect accurately the underlying purpose of the single economic entity doctrine, but also show ways to incorporate the global component in effective enforcement of European competition law. Bringing at last a great measure of legal certainty to the 'parent-subsidiary-liability debate' in European competition law, this book will be welcomed by practitioners, policymakers, and academics concerned with theory and practice in the field.

"The Comparative Law Yearbook of International Business", in its 2007 edition, treats two major topic areas: litigation and dispute resolution and banking and finance. The litigation and dispute resolution section examines various issues relating to international arbitration, such as the status of non-signatories, the employment of electronic discovery, the use of expert evidence, and costs. It further surveys the recognition of enforcement of foreign judgments in Italy, developments in litigation in Australia, Anton Pilar Orders and Internet defamation, and Italian conflict-of-law rules.The banking and finance section of the Yearbook examines Austrian capital maintenance rules, bank secrecy in Israel, and broker-dealer and investment banking strategies. Miscellaneous articles deal with Mexico's commercial bankruptcy law, Slovakia's new bankruptcy legislation, trade marks and the Madrid Protocol, trade mark registration in Hong Kong, franchising in Italy, data protection, Spanish antitrust legislation, and cartel enforcement in Australia.

During the last decade the European Commission has progressively adopted what is called a A more economic approach A| toward competition policy. This approach, which draws on U.S. antitrust policy, puts greater emphasis on possible welfare effects of business practices and is less concerned with competitive market structures. Under this school of thought concentration cannot be said to impede effective competition to the extent that efficiency gains outweigh market distortions. In order to stimulate the debate on this basic reorientation, in January 2009 the Max Planck Institute for Comparative and International Private Law at Hamburg convened economists, legal scholars, and practitioners for an exchange of views on these A new A| methodological foundations of EU competition policy and competition law. Two especially controversial elements were chosen for in-depth discussion: the prohibition of abuses of dominant positions and the review of State aid. This book reproduces fourteen papers from this conference, representing the considered views of prominent European lawyers, economists, academics, policymakers, and enforcement officials in the competition field on matters such as: A { the objectives of EU competition law; A { the current enforcement guidelines of the EU Commission regarding Article 102 TFEU A { measuring market power A { abusive low pricing strategies A { the economics of competition law enforcement A { recent developments in EU State aid law A { economic justifications for State aid A critical assessment of the Commission A|s State aid action plan by the German Monopolies Commission is appended in English. Applying law and economics theory to competition law, this book shows that the A more economic A| approach is exerting a considerable impact on various sectors of competition law. The authors clearly demonstrate the progress that can be made when lawyers and economists take notice of and respect the characteristics of each other A|s discipline. Moreover, the authors show how new insights of economic theory may be integrated into the relevant legal analysis. The book will therefore be appreciated by academics, practitioners, and officials representing both fields.

ADR is not merely a substitute for court proceedings or arbitration, but a method of dispute settlement in its own right. In ADR proceedings, the parties call upon a third party not for a decision, but for assistance in reaching an agreement. As a result, ADR is not only less expensive and usually quicker than other methods, but it is capable of giving both parties some degree of satisfaction. The purpose of this book is precisely to look at ADR on its own terms as a way of resolving business disputes, particularly at the international level. Drawing upon diverse approaches, ADR experts from a variety of countries explore the situations to which ADR lends itself and the different permutations it offers to allow each dispute to be handled in the manner most fitting to the circumstances. The contributors also show how ADR serves such important considerations as the interests involved, the need to avoid a public display of differences, and the wish to anticipate problems. By throwing new light on the achievements of ADR and the possibilities it offers, this book will help to situate ADR amongst the panoply of dispute resolution methods now available to the international business community. Practitioners faced with drafting a dispute resolution clause in a contract, or dealing with a dispute which has arisen, will find expert guidance here when deciding which method of resolution to adopt, or whether a combination of procedures would be appropriate. Academics will discover a very useful volume which not only deals with many of the issues raised by ADR, in particular its relationship with arbitration, but also provides material for comparative study of how these issues have been approached and treated until now in various regions of the world, cultures and backgrounds.

This book provides an analysis and comparison of international insolvency rules, maritime laws and their inevitable intersection in maritime cross-border insolvencies. Until today, the on-going shipping crisis resulted in the insolvency of numerous shipping companies all over the world. The tensions arising between the legal systems of maritime and insolvency law, paired with conflicts of law in maritime insolvencies, are a major source of legal uncertainty and risk. In 2010, the Comite Maritime International installed an international working group on international maritime insolvencies and until today it is work in progress. This book gives an overview on maritime insolvencies, with a focus on Germany, England & Wales and the USA, and assesses the chances of achieving meaningful harmonization in the complex scenarios, where ships as mobile assets add a further complication to international insolvency proceedings.

In a period when the nature and scope of the European internal market is hotly contested, this collection offers a topical analysis of the most pressing issues relating to market integration and public services in the EU. As the debate continues over the balance between state control and market freedom, questions are also raised about the relationship between EU regulation and national policy choices and the 'joint responsibility' of the Union and the Member States.
Outlining the most important current issues relating to market integration and public services in the EU, Market Integration and Public Services in the European Union also addresses the underlying, systemic questions of the relation between public services and markets, and services and the consumer. Chapters also examine the application of state aids and procurement law to public services. The final two chapters focus on two public service sectors where the mix of Treaty rules, case law, and legislation has operated in rather different ways: public service media and health services