Staying in the Delaware Corporate Governance Lane: Fee Shifting Bylaws and a Legislative Reaffirmation of the Rules of the Road

The Delaware legislature has taken steps towards the adoption of amendments to the Delaware General Corporation Law (DGCL) that would prohibit fee shifting provisions in the articles and bylaws. The language in the legislative proposal, however, addresses fee shifting provisions only in the context of "internal corporate claims." Some have raised concerns that this language would allow for fee shifting provisions that applied to other types of actions, including at least some cases brought under the securities laws. This piece suggests that in fact the Delaware General Corporation Law already prohibits the adoption of bylaws and certificate provisions that apply to causes of action unrelated to internal corporate claims. As a result, there was no reason for the Delaware legislature to expressly bar fee shifting provisions in these types of actions.

Remaking Movie Making: The Environmental Impacts of the Film Industry in Southern California

The film and television industry is integral to the economics and culture of the Southern California region. It is also a major contributing factor to the environmental problems in the region. Currently the Motion Picture, Television, and Commercial Industries Act of 1984 is the only regulation written specifically for the entertainment industry. This regulation was created with the purpose of streamlining the film permitting process to prevent run-away production, taking production out of state, and encourage growth. A change in this regulation is needed since studios routinely fail to meet environmental standards or work towards improvement during on-location filming. Amendments to this regulation requiring permits to contain environmental conditions would improve environmental conditions and stay true to the original purpose of the act.

Road map of Massachusetts, 1922 (Raster Image)

This layer is a georeferenced raster image of the historic paper map entitled: Road map of Massachusetts, prepared by General Drafting Co., Inc. ; published and presented by the First National Bank of Boston, May 1922. Scale [ca. 1:285,000]. The image inside the map neatline is georeferenced to the surface of the earth and fit to the Massachusetts State Plane Coordinate System, Mainland Zone (in Feet) (Fipszone 2001). All map collar and inset information is also available as part of the raster image, including any inset maps, profiles, statistical tables, directories, text, illustrations, or other information associated with the principal map. This map shows features such as roads by condition (first class trunk line highways, trunk line highways, good or fairly good roads, poor roads, very poor roads), distances in miles between places, drainage, county boundaries and more. Relief is shown by hachures. Includes insets: Important routes of lower New England -- Cape Cod -- [Boston and Cambridge]. This layer is part of a selection of digitally scanned and georeferenced historic maps of Massachusetts from the Harvard Map Collection. These maps typically portray both natural and manmade features. The selection represents a range of regions, originators, ground condition dates (1755-1922), scales, and purposes. The digitized selection includes maps of: the state, Massachusetts counties, town surveys, coastal features, real property, parks, cemeteries, railroads, roads, public works projects, etc.

From supervision to resolution: next steps on the road to European Banking Union. Bruegel Policy Contribution 2013/04, February 2012

The European Council has outlined the creation of a Single Resolution Mechanism (SRM), complementing the Single Supervisory Mechanism. The thinking on the SRM’s legal basis, design and mission is still preliminary and depends on other major initiatives, including the European Stability Mechanism’s involvement in bank recapitalisations and the Bank Recovery and Resolution (BRR) Directive. The SRM should also not be seen as the final step creating Europe’s future banking union. Both the BRR Directive and the SRM should be designed to enable the substantial financial participation of existing creditors in future bank restructurings. To be effective, the SRM should empower a central body. However, in the absence of Treaty change and of further fiscal integration, SRM decisions will need to be implemented through national resolution regimes. The central body of the SRM should be either the European Commission, or a new authority. This legislative effort should not be taken as an excuse to delay decisive action on the management and resolution of the current European banking fragility, which imposes a major drag on Europe’s growth and employment.

Down the road to Dubrovnik – Doing without an Ottoman Empire bypass bridge. CEPS Commentary, 29 July 2013

As Europeans speed down the road to Dubrovnik, Croatia's treasured jewel of the Adriatic coast, Michael Emerson discusses in a seasonal commentary one topical issue: What to do now over the 9 km of Bosnian coastline that separates north and south Croatia? Several options are under consideration, one of which would mean a very expensive bridge and dubious use of EU structural funds.