Before the Interstate commerce commission. In the matter of the application of the Great northern railway company, etc., Finance docket no. 7439. In the matter of the application of the Western Pacific railroad company, etc. Finance docket no. 7440. In the matter of the application of the Great northern railway company and the Western Pacific railroad company, etc. Finance docket no. 7781 ...

Vol. [1]-[2]. Applicants' opening brief. F.G. Dorety, F.M. Angellotti [and others], attorneys.--v. [3]-[5] Brief for Southern Pacific company, Union Pacific railroad company, Oregon short line railroad company, Oregon-Washington railroad & navigation company and Los Angeles & Salt Lake railroad company, interveners. B.C. Dey, G.V. Shoup [and others] attorneys.

Opinion of John M. Read, esquire, against the right of the city Councils to subscribe for stock in the Pennsylvania railroad company, and to increase the city debt and taxes for that purpose.

Mode of access: Internet.

Regulating Vertical Agreements: A Comparative Law & Economics analysis of Brazil and Europe

This PhD thesis discusses antitrust enforcement of anti-competitive vertical agreements in Europe and in Brazil from an institutional perspective. It considers both the evolution of the legal framework and the application of the existing policies, with the analysis of case studies. The research highlights the main challenges of the current approaches adopted by the competition authorities in these jurisdictions and formulates specific proposals for future improvements. Because the Brazilian competition rules were originally inspired by the European legal framework, this thesis also summarizes the contemporary discussions regarding comparative law and the efficiency of transplanting laws and good practices. In a Law & Economics perspective, vertical agreements have always been a paradoxical topic and constitute one of the most dynamic disputes for antitrust enforcement. The reason for that concern is the fact that those contracts among companies are complex in nature. Taking into account this background, the thesis provides an original analysis of the pro- and anti-competitive effects of vertical agreements, based on the classical literature of Law & Economics. One of the novelties of the research is the extension of the economic analysis of vertical agreements to also consider new forms of contractual abuses in the context of digital markets, such as the contractual restrictions that are being put I practice in e-commerce platforms. The international comparative approach focuses on the Brazilian and European experiences, and opens up a reflection about the policy recommendations applied to several countries with similar economic and institutional realities.

Reconciling the Irreconcilable? Sovereign Debt Restructuring and the Principles of International Law. A Law and Economics Perspective

This Thesis focuses on the principles of international law relevant to the resolution of legal disputes arising from sovereign insolvency conflicts. It attempts to contribute to the “incremental” approach literature by identifying principles, justifying their application in litigation and assessing whether they may help to reconcile the trade-offs prevalent in that context. For that purpose, this Thesis distinguishes between two different types of principles. First, it investigates the “Principles of Public International Law” (henceforth, “PIL principles”). Said category refers to norms of the law of nations which can be considered functionally and structurally similar to domestic constitutional principles (i.e., that can be regarded as “optimization” or “prima facie” requirements). This Thesis underscores the PIL principles protecting the interests of the creditors and citizens as well as the “public interest”, arguing that decision makers face a trade-off between these principles in the context of restructurings. Secondly, this Thesis inquires into the “general principles of domestic law” (henceforth, “GPDs”) which can be applied in sovereign debt restructuring. Two GPDs are identified: a “stay” on litigation and a “cram down” on dissenting creditors’ claims. Although both principles have been identified by the prior literature, this work advances a small but significant “twist” in the methodology used for that purpose: it relies exclusively on functional and comparative analysis. Moreover, this work justifies the application of said GPDs for two jurisdictions: New York and Germany. Finally, it posits that those GPDs can help to mitigate the trade-offs between PIL principles, thus reconciling the interests at stake.

Consequências da mora do segurador e o princípio neminem laedere no âmbito contratual

Relatório de atividade profissional de mestrado em Direito dos Contratos e da Empresa

A despesa pública nas autarquias locais e o controlo do Tribunal de Contas, em especial os contratos públicos

Dissertação de mestrado em Direito Tributário e Fiscal

Did the cooperative start life as a Joint-Stock company? business law and cooperatives in Spain, 1869–1931

Studies of Spanish cooperatives date their spread from the Law on Agrarian Syndicates of 1906. But the first legislative appearance of cooperatives is an 1869 measure that permitted general incorporation for lending companies. The 1931 general law on cooperatives, which was the first act permitting the formation of cooperatives in any activity, reflects the gradual disappearance of the cooperative’s "business" characteristics. In this paper we trace the Spanish cooperative’s legal roots in business law and its connections to broader questions of the freedom of association, the formation of joint-stock enterprises, and the liability of investors in business and cooperative entities. Our account underscores the similarities of the organizational problems approach by cooperatives and business firms, while at the same time respecting the distinctive purposes cooperatives served.

Trade credit: Suppliers as debt collectors and insurance providers

There are two fundamental puzzles about trade credit: why does it appearto be so expensive,and why do input suppliers engage in the business oflending money? This paper addresses and answers both questions analysingthe interaction between the financial and the industrial aspects of thesupplier-customer relationship. It examines how, in a context of limitedenforceability of contracts, suppliers may have a comparative advantageover banks in lending to their customers because they hold the extrathreat of stopping the supply of intermediate goods. Suppliers may alsoact as lenders of last resort, providing insurance against liquidityshocks that may endanger the survival of their customers. The relativelyhigh implicit interest rates of trade credit result from the existenceof default and insurance premia. The implications of the model areexamined empirically using parametric and nonparametric techniques on apanel of UK firms.

Beta and debt premium for a Finnish distribution company

Suomessa sähkönjakelu on säännelty monopoli. Energiamarkkinavirasto tuottaa ohjeistuksen sekä mallin yritysten ansaintamahdollisuuksille. Karkeasti sanottuna tulomalli on sijoitetun pääoman ja pääoman painotetun kustannuksen tulo. Pääoman painotettu kustannus koostuu useista parametreista kuten beta ja vieraan pääoman riskipreemio. Näiden parametrien taso ja määrittämisajankohta perustuvat subjektiivisiin näkemyksiin, kun objektiivista parametrien määrittämismenetelmää tulisi käyttää. Nykyiset beta ja vieraan pääoman riskipreemio perustuvat energiamarkkinaviraston ja asiantuntijoiden lausuntoihin. Aihealuetta on tutkittu erittäin vähän, mikä johtunee pääasiassa siitä, ettei ole olemassa listautuneita puhtaita jakeluverkkoyhtiöitä. Betan nykytaso on 0.529 ja vieraan pääoman riskipreemio on 1.0 %. Tässä pro gradu –työssä määritetään markkinaperusteisesti betan ja vieraan pääoman riskipreemion nykytaso. Tässä työssä esiteltävä määrittämismalli perustuu puhtaasti markkinadataan eikä sen soveltamisessa käytetä subjektiivisia mielipiteitä. Markkinaehtoisia tietoja käyttäen betan pitäisi olla tasolla 0.525 ja vieraan pääoman riskipreemion tasolla 1.34 %. Nämä luvut, mikäli ne otettaisiin käyttöön, vaikuttaisivat suoraan ja positiivisesti jakeluverkkoyhtiöiden sallittuun tuottoon Suomessa.

Pursuing substantive participation in Russia : a perspective from international legal obligations and comparative law

Så som är fallet för många andra stater, kan vissa delar av den ryska förvaltningen ännu utvecklas för att till fullo uppfylla internationella standarder. Internationella fördragsorgan som övervakar förverkligandet i Ryssland av fördrag om mänskliga rättigheter framför ibland kritiska anmärkningar om den demokratiska utvecklingen i Ryssland. Enskilda fall där politiska rättigheter möjligen kränkts av ryska myndigheter har utan tvivel placerat Ryssland i fokus för internationell media. Exempel på sådana fall är mordet på journalisten Anna Politkovskaya, Sergei Magnitskys död i fängelse och fängslandet av medlemmarna i "Pussy Riot”. Likväl anser författaren av denna studie att politiska rättigheter i Ryssland förverkligas inom rimliga gränser och i enlighet med internationell människorättslagstiftning. Denna studie fokuserar på förverkligandet av den individuella rättigheten att delta i det politiska beslutsfattandet i Ryssland genom andra mekanismer för deltagande än val och folkomröstningar. Studien utgörs av en sammanställning av forskningsartiklar som har publicerats i olika internationella tidskrifter. Sammanställningen föregås av ett fristående inledande kapitel. Författaren koncentrerar sig på frågan om Rysslands invånare ges effektiva möjligheter att delta i handhavandet av allmänna angelägenheter och om det finns användbara rättsmedel till hands för skydd av de politiska rättigheterna. Författaren tar sig an en juridisk analys av rysk lagstiftning gällande olika sätt för direkt deltagande i beslutsfattande samt analyserar rättsfall angående direkt deltagande från domstolarna i Moskva, Perm Krai och Sverdlovsk Oblast. Denna studie använder sig även av en rättshistorisk infallsvinkel för att visa på den positiva dynamiken hos den historiska utvecklingen beträffande d e väsentligaste plattformarna för offentligt deltagande. Det bevisas att rysk lagstiftning som garanterar rätten att delta i beslutsfattande är väl utvecklad i enlighet med internationella människorättsfördrag, och att åtminstone domstolarna i de utvalda ryska områdena fattar beslut som stöder deltaganderättigheter som eventuellt kränkts av myndigheter inom den verkställande makten. Författaren kommer till den slutsatsen att de i denna studie inkluderade enskilda dokumenterade händelserna gällande administrativ felbehandling inte nödvändigtvis tillåter den direkta slutsatsen att det begås systematiska och grova kränkningar av medborgares deltaganderättigheter i Ryssland.

The Backing of Government Debt and the Price Level

This paper studies the interdependence between fiscal and monetary policies, and their joint role in the determination of the price level. The government is characterized by a long-run fiscal policy rule whereby a given fraction of the outstanding debt, say d, is backed by the present discounted value of current and future primary surpluses. The remaining debt is backed by seigniorage revenue. The parameter d characterizes the interdependence between fiscal and monetary authorities. It is shown that in a standard monetary economy, this policy rule implies that the price level depends not only on the money stock, but also on the proportion of debt that is backed with money. Empirical estimates of d are obtained for OECD countries using data on nominal consumption, monetary base, and debt. Results indicate that debt plays only a minor role in the determination of the price level in these economies. Estimates of d correlate well with institutional measures of central bank independence.

Analyse comparative du concept de malhonnêteté en droit criminel et en droit des sociétés

"Mémoire présenté à la Faculté des études supérieures en vue de l'obtention du grade de maîtrise en droit option droit des affaires". Ce mémoire a été classé parmi les 15% des mémoires de la discipline.

La propriété des créances : approche comparative

"Thèse présentée à la Faculté des études supérieures de l'Université de Montréal en vue de l'obtention du grade de Docteur en Droit (L.L.D.) et à l'Université Jean Moulin Lyon 3"