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Article

Access_open Imagining the Rule of Law in Nineteenth-Century Britain: Liberal Society and the Dialectic of the Clan

Journal Erasmus Law Review, Issue 3/4 2013
Keywords clan, rule of law, Albert Venn Dicey, Walter Scott, legal memory
Authors Dr. Mark S. Weiner
AbstractAuthor's information

    In this essay, I provide a historical and theoretical framework for understanding the imaginative relation between the liberal rule of law and the kin-based form of socio-legal organization I call ‘the rule of the clan’ – a classic example of law created ‘from below’. Specifically, I believe that a culturalist disciplinary perspective reveals that the modern liberal state and its more centralized rule of law always stand in an ironic, dialectical relation to the rule of the clan as a legal form. Liberal society, that is, nurtures itself through an anti-liberal utopian imaginary. This article provides an intellectual history backdrop for theorizing that dialectical relationship by examining two contrasting ways in which nineteenth-cen‍tu‍ry British intellectuals imagined the rule of law. Following the work of Charles Taylor and, more specifically in the legal field, Paul Kahn, my goal is to depict a social imaginary of modern liberalism that has been neglected within contemporary liberal theory – and, in doing so, pro‍vi‍de a way to appreciate the cultural foundations of liberal legality. The article considers the stories that nineteenth-century British intellectuals told about the relation between the rule of law and the rule of the clan as a way to think about the rule of law today. It thus tacks between three different shores: the world of legal pluralism (the rule of the clan), the world of nineteenth-cen‍tu‍ry British analysis of the rule of the clan and the contemporary relation between culture and modern liberal society.


Dr. Mark S. Weiner
Mark S. Weiner is author of Black Trials: Citizenship from the Beginnings of Slavery to the End of Caste (New York: Alfred A. Knopf, 2004), recipient of the Silver Gavel Award of the American Bar Association, and Americans without Law: The Racial Boundaries of Citizenship (New York: New York University Press, 2006), winner of the President’s Book Award of the Social Science History Association. He received an A.B. in American Studies from Stanford University; a Ph.D. in American Studies from Yale University; and a J.D. from Yale Law School. He blogs at Worlds of Law (www.worldsoflaw.com).
Article

Access_open Towards Context-Specific Directors' Duties and Enforcement Mechanisms in the Banking Sector?

Journal Erasmus Law Review, Issue 2 2013
Keywords banking sector, directors' duties, financial crisis, context-specific doctrines, public enforcement
Authors Wasima Khan LL.M.
AbstractAuthor's information

    The global financial crisis gives reason to revisit the debate on directors’ duties in corporate law, mainly with regard to the context of banks. This article explores the need, rationale and the potential for the introduction of context-specific directors’ duties and enforcement mechanisms in the banking sector in the Netherlands from a comparative perspective.
    Chiefly, two legal strategies can be derived from the post-crisis developments and calls for legal reforms for the need and rationale to sharpen directors’ duties in the context of the banking sector in order to meet societal demands. The two strategies consist in shifting the scope of directors’ duties (i) towards clients’ interests and (ii) towards the public interest.
    Subsequently, this article explores the potential for context-specific directors’ duties and accompanying enforcement mechanisms. Firstly, it is argued that the current legal framework allows for the judicial development -specific approach. Secondly, such context-specific directors’ duties should be enforced through public-enforcement mechanisms to enhance the accountability of bank directors towards the public interest but currently there are too much barriers for implementation in practice.
    In conclusion, this article argues that there is indeed a need, rationale and potential for context-specific directors’ duties; yet there are several major obstacles for the implementation of accompanying public-enforcement mechanisms. As a result, the introduction of context-specific directors’ duties in the banking sector may as yet entail nothing more than wishful thinking because it will merely end in toothless ambitions if the lack of accompanying enforcement mechanisms remains intact.


Wasima Khan LL.M.
PhD Candidate at the Erasmus School of Law, Erasmus University Rotterdam. The author wishes to express her gratitude for valuable comments on an earlier draft of this article from Prof. Vino Timmerman and Prof. Bastiaan F. Assink at the Erasmus School of Law, Erasmus University Rotterdam, as well as the Journal‘s editors and peer reviewers. Any errors remain those of the author.
Article

Access_open An Eclectic Approach to Loyalty-Promoting Instruments in Corporate Law: Revisiting Hirschman's Model of Exit, Voice, and Loyalty

Journal Erasmus Law Review, Issue 2 2013
Keywords Eclecticism, corporate law & economics, corporate constitutionalism, loyalty-promoting instruments
Authors Bart Bootsma MSc LLM
AbstractAuthor's information

    This essay analyses the shareholder role in corporate governance in terms of Albert Hirschman's Exit, Voice, and Loyalty. The term 'exit' is embedded in a law & economics framework, while 'voice' relates to a corporate constitutional framework. The essay takes an eclectic approach and argues that, in order to understand the shareholder role in its full breadth and depth, the corporate law & economics framework can 'share the analytical stage' with a corporate constitutional framework. It is argued that Hirschman's concept of 'loyalty' is the connecting link between the corporate law & economics and corporate constitutional framework. Corporate law is perceived as a Janus head, as it is influenced by corporate law & economics as well as by corporate constitutional considerations. In the discussion on the shareholder role in public corporations, it is debated whether corporate law should facilitate loyalty-promoting instruments, such as loyalty dividend and loyalty warrants. In this essay, these instruments are analysed based on the eclectic approach. It is argued that loyalty dividend and warrants are law & economics instruments (i.e. financial incentives) based on corporate constitutional motives (i.e. promoting loyalty in order to change the exit/voice mix in favour of voice).


Bart Bootsma MSc LLM
PhD candidate in the corporate law department at Erasmus School of Law, Erasmus University Rotterdam. Email: bootsma@law.eur.nl. The research for this article has been supported by a grant from the Netherlands Organisation for Scientific Research (NWO) in the Open Competition in the Social Sciences 2010. The author is grateful to Ellen Hey, Klaus Heine, Michael Faure, Matthijs de Jongh and two anonymous reviewers for their constructive comments and suggestions. The usual disclaimer applies.
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.

Helmut Heiss
Dr. iur. (University of Innsbruck), LL.M. (University of Chicago); Professor of Law (University of Zurich); Chairman of the Project Group on a Restatement of European Insurance Contract Law; of counsel, gbf attorneys-at-law, Zurich.

Isabelle Bambust
Researcher, University of Ghent.

Albert Kruger
Judge of the High Court of South Africa, Professor Extraordinary in Roman Law, History of Law and Comparative Law at the University of the Free State.

Thalia Kruger
Lecturer, University of Antwerp, Honorary Research Associate, University of Cape Town. This research was supported by the National Research Foundation of South Africa.

Christoph A. Kern
Dr. Christoph A. Kern, LL.M. (Harvard), professor, chair of Private Law, Private International Law, Comparative Law and Procedural Law at EBS Law School, Wiesbaden. The author wishes to express his gratitude to Maître Anne-Caroline Urbain, LL.M. (Harvard), admitted to the bars of Paris and New York, for her support in researching the current situation in France, as well as PD Dr. Alexander Brunner, Commercial Judge, Zurich, for his support in researching the situation in Switzerland. Remaining errors are the sole responsibility of the author.

Simone Glanert
Senior Lecturer in French and European Comparative Law, Kent Law School, Eliot College, Canterbury, Kent, CT2 7NS, UK; S.Glanert@kent.ac.uk. I presented early formulations of this argument at the RELINE Network for Interdisciplinary Studies in Language and the Law Seminar, Faculty of Law, University of Copenhagen, on 25 October 2011; at the Faculté de Droit, Université de Montréal, on 27 January 2012; at the 4th Annual Meeting of the Irish Society of Comparative Law (ISCL), Faculty of Law, University of Cork, on 2 March 2012; and at the Faculté de Droit, Université de Grenoble, on 22 March 2012. I am grateful to Anne Lise Kjær, Jean-Franois Gaudreault-DesBiens, Bénédicte Fuller-Sage and David Dechenaud for their kind expression of interest in my work and generous invitations.

Nick Huls
Professor of Socio-Legal Studies, Erasmus School of Law and Leiden Law School.

Elena Fagotto
Rotterdam Institute of Law and Economics, Erasmus University Rotterdam; Ash Center for Democratic Governance and Innovation, Harvard Kennedy School. E-mail: fagotto@frg.eur.nl. The author wishes to thank Alessandra Arcuri, Michael Faure, participants in the European Society for Risk Analysis Conference in London (June 2010) and an anonymous referee for valuable comments. I am also deeply indebted to Archon Fung at Harvard Kennedy School.
Article

Access_open Merger control and the rule of law

Journal Erasmus Law Review, Issue 1 2009
Authors Rachid Abdullah Khan and Gareth Davies
Author's information

Rachid Abdullah Khan
Both authors are members of the Department of International Law, Faculty of Law, VU University Amsterdam (Vrije Universiteit Amsterdam); Rachid Abdullah Khan as an associate professor and Gareth Davies as a professor.

Gareth Davies
Both authors are members of the Department of International Law, Faculty of Law, VU University Amsterdam (Vrije Universiteit Amsterdam); Rachid Abdullah Khan as an associate professor and Gareth Davies as a professor.

Marc A. Loth
Marc Loth is Professor of Jurisprudence and Legal Theory and Dean of the School of Law, Erasmus University Rotterdam.

Nicholas Dorn
Nicholas Dorn is Professor of International Safety and Governance at the School of Law, Erasmus University Rotterdam.

Roger Van den Bergh
Dr. Roger Van den Bergh is Professor of Law and Economics and Director of the Rotterdam Institute of Law and Economics (RILE), School of Law, Erasmus University Rotterdam.

Louis Visscher
Dr. Louis Visscher is Assistant Professor of Law and Economics, Rotterdam Institute of Law and Economics (RILE), School of Law, Erasmus University Rotterdam.

Andrea Pinna
Avocat au Barreau de Paris, France. Research Director at Institut de droit des affaires internationales Paris, France. Formerly Assistant Professor, Erasmus University Rotterdam. The author wishes to thank the board of the Erasmus Law Review and two anonymous referees for their useful comments. Research for this article was finalised September 1st, 2007.

Alessandra Arcuri
Dr. Alessandra Arcuri is Assistant Professor, Rotterdam Institute of Law and Economics (RILE), Department of International Law, School of Law, Erasmus University Rotterdam. Email: acuri@frg.eur.nl. The author wishes to thank an anonymous referee, Giuseppe Dari-Mattiacci and the editorial board of the Erasmus Law Review for thoughtful comments; the usual disclaimer applies.

Ben Depoorter
Ben Depoorter is Associate Professor of Law, University Miami School of Law; Ghent University. The author is grateful to Allison Freidin for her exemplary research assistance.

Roel de Lange
Dr. Roel de Lange is Professor of Constitutional and Administrative Law and Director of the Human Rights Research Programme, School of Law, Erasmus University Rotterdam. The author is grateful to Dr. K.A.M. Henrard and to an anonymous reviewer for the Erasmus Law Review.

Chantal Mak
Dr. Chantal Mak is Assistant Professor at the Centre for the Study of European Contract Law, Faculty of Law, University of Amsterdam (UvA), the Netherlands.
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