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Journal The Dovenschmidt Quarterly x Year 2013 x

    In this article a non-binding global standard for solution of cross-border insolvency proceedings is introduced. These Global Principles for Cooperation in International Insolvency Cases can be used both in civil-law as well as common-law jurisdictions, and aim to cover all jurisdictions in the world. They are addressed to judges, insolvency practitioners and scholars, and aim to contribute to an improved global architecture of international insolvency.


Bob Wessels
Prof. Dr. Bob Wessels is an independent legal counsel in Dordrecht, The Netherlands, and professor International Insolvency Law, University of Leiden, School of Law. He can be reached at: info@bobwessels.nl.
Article

Access_open Regulating Credit Rating Agencies in the European Union

Lessons from Behavioural Science

Journal The Dovenschmidt Quarterly, Issue 1 2013
Keywords behavioural economics, credit rating agenies, lulling effect, neuroeconomics, due diligence
Authors Fabian Amtenbrink and Klaus Heine
AbstractAuthor's information

    Since the beginning of the global financial and economic crisis, the search for its causes has been in full flight on both sides of the Atlantic. Inter alia, fundamental failures in the evaluation of risk and the role that Credit Rating Agencies (CRAs) play in the assessment of credit risk are discussed. More specifically, the question is raised as to what the role of CRAs is in the financial markets, why this role may be problematic and how the main weaknesses of the present system can be addressed in the European Union (EU) and elsewhere. This contribution does not aim to provide a discussion of all theoretical aspects that might be involved in an economic analysis of CRAs, but to better understand the main behavioural economics and normative arguments that may be related. Thereby, the current EU regulatory framework on CRAs and credit ratings will be scrutinized. The basic hypothesis of this contribution is that the current and proposed future EU regulatory framework does not fully succeed in effectively tackling failures in the CRA market, because insights from behavioural economics are widely neglected.


Fabian Amtenbrink
Dr. Amtenbrink is Professor of European Union Law at the Erasmus School of Law, Erasmus University Rotterdam, The Netherlands. He is also Visiting Professor at the College of Europe (Bruges).

Klaus Heine
Dr. Heine is Professor of Law and Economics and Jean Monnet Chair of Economic Analysis of European Law at the Erasmus School of Law, Erasmus University Rotterdam, The Netherlands.
Article

Access_open Climate Change

A Major Challenge and a Serious Threat to Enterprises

Journal The Dovenschmidt Quarterly, Issue 1 2013
Keywords volgt
Authors Elbert R. de Jong and Jaap Spier
AbstractAuthor's information

    volgt


Elbert R. de Jong
Elbert de Jong is PhD candidate at the Molengraaff Institute for Private Law, Utrecht University.

Jaap Spier
Jaap Spier is Advocate-General in the Supreme Court of The Netherlands and Honorary Professor at Maastricht University.
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