This work investigates the permissibility and viability of property rights on the - lestial bodies, particularly the extraterrestrial aspects of land and mineral resources ownership. In lay terms, it aims to ?nd an answer to the question "Who owns the Moon?" The ?rst chapter critically analyses and dismantles with legal arguments the issue of sale of extraterrestrial real estate, after having perused some of the trivial claims of celestial bodies ownership. The only consequence these claims have on the plane of space law is to highlight the need for a better regulation of extraterrestrial landed property rights. Next, thebook addresses theapparent silenceofthelawinthe?eldofextraterr- trial landed property, scrutinizing whether the factual situation on the extraterrestrial realms calls for legal regulations. The sources of law are examined in their dual dimension - that is, the facts that have caused and shaped the law of extraterrestrial real estate, and the norms which express this law. It is found that the norms and rules regarding property rights in the celestial realms are rather limited, failing to de?ne basic concepts such as celestial body.

As barriers to international trade and investment are eliminated, taxation becomes an increasingly important consideration in foreign investment decisions. This book describes the many different ways in which national tax rules and international tax principles affect foreign direct investment decisions, and examines their impact on the establishment and operation of foreign-invested projects. The study focuses on tax provisions, in both host and home countries, which have the greatest impact upon foreign direct investment, and looks at the role of tax treaties, the methods of relieving double taxation and of countering tax avoidance. It looks at the application of these rules to specific foreign direct investment situations and examines the impact of taxation upon the establishment and operation of foreign-invested projects. It concludes by examining some of the latest developments in international taxation, such as the growing concern over harmful tax competition, and attempts to suggest how the international tax system, as it affects foreign direct investment, may evolve as the 21st century begins. The book should be a valuable guide to tax practitioners and executives of multinational enterprises, and should be a useful reference work for students of international taxation.

'This book is a thoroughly researched and well written exploration of one of the most divisive topics in modern democratic discourse. Novak brings careful and clear thinking to a topic too often clouded in emotion and guided by moral intuition. ' -Peter Boettke, Professor of Economics and Philosophy, George Mason University, USA 'Inequality has bred a climate of hostile political discourse reminiscent of the cold war. In this lucid book, Novak explains how we can transcend that hostility by recognizing the deeply entangled character of politics and economics within modern societies.' -Richard E. Wagner, Hobart R. Harris Professor of Economics, George Mason University, USA 'Mikayla Novak has provided a bold new intellectual foundation for social policy analysis.' -Jason Potts, Professor of Economics, RMIT University, Australia In recent years the degree of income and wealth inequality within developed countries has been raised as a central issue in economic and social policy debates. Numerous figures across diverse ideological affinities have advocated policy measures to significantly alter income and wealth distributions, while the inequality debate has become infused with other subjects such as social justice and identity politics. This book presents an account of economic inequality from a contemporary classical liberal perspective. Inequality is seen as a by-product of entangled relationships within society, bringing to the fore key ideas from complexity, evolutionary and network sciences. Novak illustrates that inequality is problematic insofar as it generates pro-rich redistribution and constrains progress by the less well off. Economic inequality has important links with issues such as fiscal and regulatory policies, discrimination and social exclusion, and institutional design. This unique book is important reading for social science academics, policy makers and people interested in exploring the dimensions and solutions to inequality, a critical issue of our time.

This book will be an important resource for scholars and practitioners alike in the emerging field of business and human rights. Simon Baughen's careful and comprehensive analysis of the US and UK case law on corporate responsibility for human rights abuses is invaluable.' - Claire Methven O'Brien, The Danish Institute for Human RightsThe effects of globalisation, together with the increase in foreign investment and resource development within the developing world, have created a context for human rights abuses by States in which transnational corporations are complicit. This timely book considers how these 'governance gaps', as identified by Professor John Ruggie, may be closed. Simon Baughen examines the status of corporations under international law, the civil liability of corporations for their participation in international crimes and self-regulation through voluntary codes of conduct, such as the 2011 UN Guiding Principles. The book includes in-depth analysis of the key legal issues and examines a variety of scenarios including: the Alien Tort Statute litigation against transnational corporations (TNCs) in the US; the use of customary international law as a cause of action in jurisdictions outside the US; and tort litigation against TNCs in the US and UK. The author evaluates how governance gaps may be closed, building on a critical analysis of the place of home States, host States and TNCs under international law and of the UN Guiding Principles and other 'soft law' initiatives. This book will be essential reading for postgraduate students and academics in human rights and corporate governance. It will also provide comprehensive insights for practitioners in NGO.

The great novelty of Netherlands Insolvency Law is that it is the first book in the English language covering the Netherlands insolvency law as a whole. It is a practical book for use by internal and external legal counsel, Dutch and non Dutch companies, students, academics and practitioners alike, presenting not only the principal concepts but also the current state of affairs of the Netherlands in solvency law. The reader is offered not only the black letter law, but also impar tial discussions presenting differing views on particular aspects of the insolvency law. Furthermore, Netherlands Insolvency Law briefly addresses recent develop ments such as the EU Insolvency Regulation and the progress made on the ongo ing total revision of the Netherlands Bankruptcy Act in the "Marktwerking, Deregulering en Wetgevingskwaliteit (MDW)"-project. Declercq has successfully managed to strike such a balance that, on the one hand, the book offers the reader more than an average introduction, while on the other hand, it is not weighed down in a quagmire of technical detail. Declercq's experi ence and international exposure as an insolvency lawyer in one of the most repu table law fmns in the Netherlands has probably contributed in this respect. Netherlands Insolvency Law promises to become a standard textbook to a wide ranging audience. ANTONIUS I. M. vAN MIERLO ProfessorofLaw Erasmus University Rotterdam January 2002 VII TABLE OF CONTENTS Preface V Abbreviations XIII Introduction XVII CHAPTER 1 - THE NETHERLANDS BANKRUPTCY ACT 1."

The UNCITRAL Model Law on International Commercial Arbitration has been a great success in harmonizing the law of arbitration around the world. Several dozen countries have either adopted the law or amended their own laws to be in conformity with it. The fact that the law is the same in so many countries allows courts from each country to benefit from the interpretation of the Model Law provisions in many countries. This book, written by distinguished arbitration practitioners, compiles decisions applying the Model Law from most Model Law jurisdictions, and organizes them in order to provide easy reference. The cases are organized by section of the Model law, with the cases applying that section from multiple jurisdictions summarized together. Each summary includes a statement of the holding of the case, a broader summary of the facts and the ruling, and case citations. This compilation will allow arbitration counsel to compare and to readily use rulings under each Model Law section from multiple jurisdictions. Decisions are compiled applying the Model Law from various Model Law jurisdictions and cases are organized by section of the Model Law, with the cases applying to that section from multiple jurisdictions summarized together.

This work covers the new Netherlands Antillean legislation on money laundering and makes suggestions for improvement. It provides an overview of money that has been obtained from criminal activities and either is used for illegal purposes and/or is used for the infiltration of the legal underworld by making (seemingly legal) investments (also called dirty money). This work also covers the International Agreements, and the legal situation in the USA, and includes some remarks on bank secrecy and other secrecy obligations. This book will serve as a reference manual for staff of financial institutions, government personnel, accountants and legal practitioners, who in their work may be confronted with aspects of money-laundering.

The ICSID Reports provide the only comprehensive collection of the arbitral awards and decisions given under the auspices of the World Bank's International Centre for the Settlement of Investment Disputes or pursuant to other multilateral or bilateral investment treaties. These decisions make an important contribution to the growing body of jurisprudence on international investment. The series also includes arbitration under the Additional Facility to the ICSID Convention which has increased in recent years, most notably in relation to the North American Free Trade Agreement (NAFTA). The ICSID Reports are an invaluable tool for practitioners and scholars working in the field of international commercial arbitration. Volume 9 of the ICSID Reports includes the hitherto unpublished annulment decision in the Amco Asia case, the TV Nova/Czech Republic saga, and the first Canadian appellate court decision on NAFTA Chapter 11 arbitration and the standard of review.

Although cross-border industrial sub-contracting is the main tool of industrial organisation in the global economy, practitioners in this important field are significantly hampered by a lack of uniform rules. This book offers a first step in discerning and formulating a framework for such rules, based on the experience of counsel for both contractors and sub-contractors in over twenty countries worldwide. It consists of the final papers, subsequently revised by the presenters, delivered at a conference held in Florence, in February 2000, under the auspices of the Union Internationale des Avocats (UIA) and the Association Internationale des Jeunes Avocats (AIJA). Other essays present the basic legal issues from a comparative perspective and clarify the fundamental distinctions in the points of view of the contractor and the sub-contractor. Individual contributions from practitioners in twenty countries (encompassing EU countries, the United States, Central and Eastern Europe, and the Asia-Pacific region) detail applicable domestic laws so that the user can determine points of difference, common aspects, and potential pitfalls in most of the world's major industrial sub-contracting jurisdictions. "Handbook on Cross-Border Industrial Sub-Contracting will be of great value of lawyers and business people everywhere engaged in this all-important area of today's legal practice.

The World Trade Organization (WTO) is an incomplete contract among sovereign countries. Trade policy flexibility mechanisms are designed to deal with contractual gaps, which are the inevitable consequence of this contractual incompleteness. Trade policy flexibility mechanisms are backed up by enforcement instruments which allow for punishment of illegal extra-contractual conduct. This book offers a legal and economic analysis of contractual escape and punishment in the WTO. It assesses the interrelation between contractual incompleteness, trade policy flexibility mechanisms, contract enforcement, and WTO Members' willingness to co-operate and to commit to trade liberalization. It contributes to the body of WTO scholarship by providing a systematic assessment of the weaknesses of the current regime of escape and punishment in the WTO, and the systemic implications that these weaknesses have for the international trading system, before offering a reform agenda that is concrete, politically realistic, and systemically viable.

This book expands on law-related research by comprehensively examining the legal aspects of sustainability with a focus on the impact on business strategies, investigating the impact of law and regulation on business sustainability strategies through a variety of legal lenses. It assumes that firms must adopt an integrated approach to law and sustainability, considers multiple disciplines and goals and joins scholarship from fields such as environmental law, energy, government regulation and intellectual property.

Firms increasingly have an interest in transitioning to sustainable business practices that take into consideration the fact that global resources are finite and will be increasingly scarce. They acknowledge that current actions have social, economic and environmental consequences and employ options to ensure that future generations have the same options and benefits.Examples of sustainable practices increasingly employed by firms include the institutionalization of whole life-cycle analysis in marketing and product design, utilization of sustainable inputs and energy sources, tracking and reporting sustainability performance, attempting the valuation of future generation prosperity and happiness as a discounting mechanism and integrating sustainability into firm culture and management goals.

It is clear that law and regulation have an extremely important role to play in the transition to more sustainable business practices. Broadly stated, law can provide structure for firms responding to forces that pull transition by enabling sustainability leadership and competitive advantage through funding models, intellectual property rights and collaboration means.Additionally, law can work to push transition by compelling firms to act through regulatory structures, accounting and governance mechanisms.Finally, coherent legal approaches are necessary to harmonize transition across countries by aligning and adapting goals to promote an equitable global marketplace that promotes development.

Representing a variety of areas and perspectives, the authors go beyond the existing legal literature to explore the impact of sustainability law on business practice and its implications for policy and future research."

Since the ratification of the Hague Trust Convention by the Netherlands and Italy, the question of whether civil law countries ought to have a trust or a legal institution resembling it has gained importance. The Business and Law Research Centre at the University of Nijmegen founded an international working group of experts in the field of trust law in 1996. This group developed eight principles of European trust law designed to facilitate transactions within European jurisdictions, to enable countries to recognise the potential for the development of new domestic legal concepts and to provide guidance as to how these developments can be framed in different legal and socio-economic contexts. This book provides a detailed analysis of these principles both from a common law and a civil law point of view. In particular, the national reports give an overview of the current law relating to trusts and fiduciary relationships and, in the case of civil law jurisdictions, whether the trust concept can be incorporated in the domestic legal systems on the basis of the eight principles.

This book proposes a different approach to theorising and analysing antitrust issues, working on the premise that at present, antitrust is addressed from top-down and narrow perspectives which in effect limit the attention paid to or exclude issues that could otherwise be considered. This reasoning is motivated by the pursuit of inclusiveness and broadness in the antitrust context. The work contends that traditional top-down antitrust theories are weak because they are incomplete and insufficient in their description and analysis of antitrust issues. Thus, it identifies the need to construct a bottom-up approach. Invariably, such an approach would have to avoid ex ante judgments about the suitability of the normative contents of antitrust laws and theories, lest it fall into the same trap that plagues traditional theories. As a possible solution, the author proposes a procedural account referred to as the person-centred approach (built on theories such as Sen's Capability) and carefully reviews its practicality.

In November 2001 the members of the World Trade Organization approved the start of new trade talks at the WTO ministerial meeting in Doha. Written by a team of authors from developing and developed countries in the Asia-Pacific region, this collection of essays identifies ways that progress might be made on key negotiating topics. The negotiations launched will focus on such problematic issues as improving market access in agriculture, and strengthening the development impacts of WTO which, if achieved, will have profound implications on world trade.

Fossil fuel consumption is an increasingly volatile issue, and its subsidisation continues to be challenged by lobbyists and activists. This timely book provides an empirically-grounded and theoretically-informed account of international law sources, mechanisms, initiatives and institutions relevant to the practice of subsidising fossil fuel consumption and production. This book offers a wide-ranging analysis and critique of polycentric international responses to environmentally harmful fossil fuel subsidies. Drawing on interviews with officers and representatives of a wide range of institutions involved in subsidy reform, as well a broad range of cabinet papers and diplomatic correspondence, Vernon Rive dissects and maps the activities of the international legal and governance framework relevant to fossil fuel subsidy reform. Featuring sustained and comprehensive analysis throughout, the book considers the existing WTO framework's potential to legally challenge fossil fuel subsidy practices. This engaging book will be indispensable to researchers in law with a particular interest in the frameworks that underpin and challenge fossil fuel subsidies. Furthermore, it will provide critical insight for legal practitioners and policymakers operating in international trade and environment policy, as well as wider global climate change networks.

This book provides new insights into the economic impacts, strategic objectives and legal structures of an emerging branch of government incentives conditioned on meeting intellectual property-related requirements. Despite becoming more common in recent years, such incentives - ranging from patent fee subsidies and patent box tax deductions to inventor remuneration schemes - are still under-researched. A diverse range of analytical methods, including econometric analyses, case studies and comparative legal analysis, are used to study these incentives in countries in Europe and China. Scholars, policymakers and practitioners can benefit from the conceptual and practical insights as well as policy recommendations provided.

This book considers some of the fundamental issues concerning the legal framework that has been established to support a single EU securities market. It focuses particularly on how the emerging legal framework will affect issuers' access to the primary and secondary market. The Financial Services Action Plan (FSAP, 1999) was an attempt to equip the community better to meet the challenges of monetary union and to capitalise on the potential benefits of a single market in financial services. It led to extensive change in securities market regulation: new laws; new law making processes, and more attention to the mechanisms for the supervision of securities market activity and legal enforcement. With the FSAP nearing completion, it is a good time to take stock of what has been achieved, and to identify the challenges that lie ahead.

This book focuses on the influence of food safety and quality requirements on international trade in food. Drawing on the case of Benin and other fishery products exporting countries in West and East Africa, the book explores the consequences of EU requirements on market access and food safety regulation in exporting developing countries. Moreover, it examines the processes through which UEMOA Member States intend to overcome their food safety challenges thanks to regional cooperation. In this regard, the book dwells on the conditions and mechanisms of regulatory convergence within the UEMOA.In addition to exploring the differences in approaches to food safety regulation (proactive or reactive approaches) between the EU and most West African developing countries, the book further analyses the case of Benin shrimp exports to the EU in the light of the rules of the World Trade Organization (WTO). Essentially, the book assesses whether WTO rules provide sufficient leverage to enable weaker countries to press for reforms in other WTO Members' food safety laws so as to avoid protectionism and unnecessary obstacles to trade.

One of the most pressing issues confronting the multilateral trade system is the challenge posed by the rapid proliferation of preferential trade agreements. Plenty has been written about why governments might choose to negotiate preferentially or multilaterally, but until now it has been written almost exclusively from the perspective of governments. We know very little about how non-state actors view this issue of 'forum choice', nor how they position themselves to influence choices by governments about whether to emphasize PTAs or the WTO. This book addresses that issue squarely through case studies of trade policy-making and forum choice in eight developing countries: Chile, Colombia, Mexico, South Africa, Kenya, Jordan, Indonesia and Thailand. The case studies are based on original research by the authors, including interviews with state and non-state actors involved in the trade policy-making process in the eight countries of this study.

The book offers a horizontal legal analysis on the problematic of risk sharing, which arises inevitably in an economic and political integration process, such as in the European Union, and even more so in the euro area. The question is how the burden of adverse economic developments is spread across the integration area, in this case the euro area, whether risk is distributed evenly and what risk sharing mechanisms apply. The book looks at the legal basis and the concrete stage of development of such mechanisms in European law, as well as at divergences among national legal orders and practices as a source for risk asymmetries. Individual contributions refer in particular to the areas of banking, capital markets and unemployment insurance. The point of view adopted in the book is important for everyone who wants to develop a robust understanding of the practical functioning of the complex integration process regulated by EU law.

This new book from MOCOMILA, the Monetary Law Committee of the ILA, is a unique collaboration of the top academic and practitioner monetary and financial lawyers from around the world. It examines current legal issues of international monetary and financial law in the light of the current global financial crisis and consequent reforms of international and domestic financial architecture. The book deals with post-crisis financial regulation and supervision, including that of rating agencies and sovereign wealth funds, and financial crisis resolution with an analysis of bank rescue operations.
Covering matters of current interest such as central banks, international payments, money laundering, and sovereign debt, this book is for banking and financial practitioners, in-house lawyers, central banks and international financial institutions as well as academics in the field of international and financial law.

This work analyzes and compares the legal framework for foreign investments in the mining sector in Australia, South Africa and Colombia. The admission of foreign investments, corporate structure requirements, ownership of minerals and mineral rights, mining licenses, land access, performance requirements, distribution of profits and the tax regime, repatriation of profits, national and international dispute resolution mechanisms and the question of the Social License to Operate (SLO) / Corporate Social Responsibility (CSR) policies are discussed in detail. The work concludes with an outlook on the future regulation of foreign mining investments and finally suggests the development of an International Mining Investment Law.

This book examines the labour standards provisions in a number of Regional and Bilateral Trade Agreements, and assesses the potential of using the relevant clauses in these trade agreements as a benchmark for a multilateral approach. Based on the lessons learned from the Regional model, the book proposes a Global Labour and Trade Framework Agreement (GLTFA) combined with a joint ILO/WTO enforcement mechanism to resolve the contentious issue of the link between the CLS and international trade. The history of the linkage between the Core Labour Standards (CLS) and international trade dates back roughly 150 years, and has recently become one of the most vexing issues facing policy-makers. At the heart of the debate is the question whether or not trade sanctions should be imposed on countries that do not respect the CLS as embodied in multilateral conventions administered by the International Labour Organization (ILO). Concretely, this would entail inserting a social clause in the World Trade Organization (WTO) rules, and would trigger the imposition of sanctions on those countries that do not adhere to the CLS.

While international investment law is one of the most dynamic and thriving fields of international law, it is increasingly criticized for failing to strike a fair balance between private property rights and the public interest. Proportionality is a tool to resolve conflicts between competing rights and interests. This book assesses its current role, its potential, and its limits in investor-State arbitration. Proportionality is often lauded for reconciling colliding interests. This book identifies three factors arbitrators should consider before engaging in a proportionality analysis: the rule of law, the risk of judicial law-making, and the availability of a value system that guides the proportionality analysis. Apart from making suggestions when arbitrators should apply proportionality and when not to, the book outlines what States can do to recalibrate the balance between private property rights and the public interest if they wish to do so without dismantling the current system of investor-State arbitration. Proportionality in Investor-State Arbitration considers whether and to what extent the notion of general principles of law within the meaning of Article 38(1)(c) of the ICJ Statute and the concept of systemic integration enshrined in Article 31(3)(c) of the Vienna Convention on the Law of Treaties provides a valid legal foundation for applying proportionality in investor-State arbitration.

Investment Treaty Arbitration is an excellent teaching tool for lecturers and readers of international investment arbitration. This casebook includes over forty exercises based on real-life disputes, helping readers evaluate and analyze all aspects of the topic. Intended to set out a basis for discussion in seminars, the material has been developed by the eminent practitioner and academic Kaj Hober, using a teaching structure proven to be successful. Key features include: ? extensive examples of cases alongside seminar exercises and mini mock arbitrations to help students put their knowledge into practice material built on the problem-based learning method, using fact patterns and allowing for in-depth discussion and a confident understanding of complex arbitration cases? exercises including questions to answer, problems to solve and group exercises, alongside excerpts of the relevant cases for annotation and analysis. The most wide-ranging textbook in the area, covering both substantive investment law and arbitration, this will become the key casebook for Master?'s level courses or other advanced courses in international arbitration. It will also serve as a supplementary text for those studying investment law more broadly.