Veil-piercing is an equitable remedy. This simple insight has been lost over time. What started as a means for corporate creditors to reach into the personal assets of a shareholder has devolved into a doctrinal black hole. Courts apply an expansive list of amorphous factors, attenuated from the...

The European Court of Justice (ECJ) has in several cases, most recently in Akzo Nobel (Case C-97/08) and General Química (Case C-90/09), held parent companies liable for competition law infringements of their subsidiaries. This practice is widely criticized by scholars and practitioners. The...

In this article, the authors analyse the Dutch Collective Settlement of Mass Damage Act (WCAM 2005) in light of the European developments concerning collective redress. Both the strong and weak points of the WCAM 2005 are discussed

Subject of the Article is the interesting judgment of the Czech Supreme Administrative Court as of 20 May 2010 dealing with the interpretation of international treaties on social security. The judgment is remarkable for the scope of resources of international (or Community) origin of which it...

This essay, prepared for a book on the effect of regulatory, liability, and litigation inefficiencies on the global competitive position of the U.S., focuses on the role of the US federal system. We show that, although multiple US states offer significant potential for jurisdictional choice to...

Our chapter concerns how legal process can lead to efficient policies for fostering innovation and growth. Future innovation will depend at least as much on how laws are made as on a priori analyses of the optimal content of those laws. Of particular importance is whether U.S. choice of law and...

This Article examines the activities of various multinational enterprises (MNEs) involved in the Prestige oil spill of, 2002. The liability exposure of such enterprises is found to have been minimized by three legal phenomena which result from the current treatment of MNEs under national and...

In their book, The Law Market, Erin O'Hara and Larry Ribstein show that states increasingly act as hawkers of legal rules in a market for law where people and firms often can shop for those regimes that they find most desirable. This market helps deal with a world in which increasing mobility...

From toxic torts to poison pills, no corporate undertaking is unaffected by the workings of one of corporate law's bedrock principles: limited liability. But in the past forty years, critics of the doctrine's application to corporate torts have argued forcefully that limited liability creates...

Insider trading: The words alone evoke conflicting feelings of jealousy and greed. But what is wrong with insider trading? Nothing. In fact, insider trading is good for the economy. Insider trading results in an efficient allocation of capital and thus makes the world wealthier