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Article

Access_open The Regulation of Rating Agencies in Europe

Journal The Dovenschmidt Quarterly, Issue 2 2013
Keywords Credit Rating Agencies, Regulation No. 1060/2009, ESMA, sovereign ratings, complex products ratings
Authors Edith Weemaels
AbstractAuthor's information

    This article presents the current and future statutory framework for ratings agencies in Europe. The recent financial and economic crises dealt a fatal blow to this practice and the EU clearly intends to progress as quickly as possible when it comes to the regulation of credit rating agencies. This article examines the possibility that new EU framework serve to strengthen the position of credit rating agencies through the elimination of their unquestioned role in the markets. The author also presents existing and future European regulations and analyses the establishment and implementation of prudential supervision of the rating activity.


Edith Weemaels
Lawyer – Brussels Bar, Liedekerke Wolters Waelbroeck Kirkpatrick (Brussels), e.weemaels@liedekerke.com.

Mahulena Hofmann
Prof. Dr., SES Chair in Satellite Communications and Media Law, University of Luxembourg, Luxembourg, mahulena.hofmann@uni.lu.
Article

Access_open Recht als human condition

Journal Netherlands Journal of Legal Philosophy, Issue 1 2013
Keywords homo faber, homo agens, human condition, participatory judgment, law-linked justice, existence-linked justice
Authors Peter van Schilfgaarde
AbstractAuthor's information

    This paper concentrates on the dynamic tension between law as it is ‘made’ by legal professionals, functioning as homo faber, and law as it is experienced by citizens, functioning as homo agens. In between those two worlds, law develops as a human condition, a term borrowed from Hannah Arendt. It is argued that, in regard to law development and administration of justice, the function of homo agens should have priority over the function of homo faber. The two basic faculties that connect the two worlds are judgment and speech. This leads to further thoughts on the character of judgment as ‘participatory judgment,’ the function of ‘middle terms’ in legal language and the concept of ‘shared responsibility.’


Peter van Schilfgaarde
Peter van Schilfgaarde is an Attorney at Law at the Supreme Court of The Netherlands in The Hague and former Professor of Corporate Law at the Universities of Groningen and Utrecht.

Juliana Macedo Scavuzzi dos Santos
LLM Thesis Candidate, McGill Institute of Air and Space Law, Montreal, Canada, juliana.scavuzzi@mail.mcgill.ca.

Henry R. Hertzfeld
Space Policy Institute, The George Washington University, Washington, D.C., USA, HHertzfeld@law.gwu.edu.

Timothy G. Nelson
Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY, USA, Timothy.G.Nelson@skadden.com.

Fabio Tronchetti
Associate Professor of Law, School of Law, Harbin Institute of Technology, China; Adjunct Professor of Comparative National Space Law, School of Law, University of Mississippi, United States, Fabio.tronchetti@yahoo.com.
Article

Access_open Between a Rock and a Hard Place: Treaty-Based Settlement of Terrorism-Related Disputes in the Era of Active United Nations Security Council Involvement

Journal Erasmus Law Review, Issue 2 2013
Keywords Terrorism, inter-state dispute, international treaties, the United Nations Security Council, the International Court of Justice
Authors Nathanael Tilahun Ali LL.M.
AbstractAuthor's information

    The United Nations Security Council has become a crucial actor in international counterterrorism by not only spurring the taking of preventive and suppressive measures against terrorist individuals and groups, but also by taking actions against states that are said to stand in the way. The Security Council's actions against such states invariably arise from accusations by other states, such as accusations of refusal to extradite suspects of terrorism or responsibility for supporting terrorists. Meanwhile, most such issues of dispute are covered under international treaties relating to terrorism, which provide for political (negotiation) and judicial (arbitration and adjudication) mechanisms of dispute settlement. The Security Council's actions against states in connection with terrorism, therefore, involve (explicit or implicit) factual and legal determinations that affect the legal positions of the disputing states under the applicable international treaties relating to terrorism. The point of departure of this paper is that, in this respect, the Security Council effectively becomes an alternative to the treaty-based dispute-settlement mechanisms. The article centrally contends that the Security Council effectively acts as a more attractive alternative to treaty-based dispute-settlement mechanisms for pursuing terrorism-related (legal) disputes between states, without providing a meaningful platform of disputation that is based on equality of the parties. And the Security Council's relative attractiveness, arising from the discursive and legal superiority its decisions enjoy and the relative convenience and expediency with which those decisions are delivered, entails the rendering of resort to treaty-based dispute-settlement mechanisms of little legal consequence. The point of concern the article aims to highlight is the lack of platform of disputation some states are faced with, trapped between a hostile Security Council that makes determinations and decisions of legal consequence and an unhelpful treaty-based dispute-settlement mechanism.


Nathanael Tilahun Ali LL.M.
PhD Candidate in public international law, Erasmus School of Law. E: ali@law.eur.nl. I would like to thank Prof. Xandra Kramer and Prof. Ellen Hey for their valuable comments on an earlier draft of this article. The usual disclaimer applies.
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