Legal regimes of limited liability serve different functions governed by distinct normative principles. The enabling function of limited liability aims at facilitating investment in risky activities and at organising principal/agent-relationships within the firm. In this area, choice of law may...

With the case of Lliuya v. RWE, climate change litigation has come to Germany. The article explores the German law of torts or delict, asking whether it has something to offer to victims of climate change. The essential elements of negligence liability, i.e. scope of protection, duty of care,...

Credit rating agencies (CRAs) are not subject to broad, negligence-based liability vis-à-vis third parties such as investors. As a consequence, incentives to take an optimistic, rather than a pessimistic-conservative approach in rating firms or financial products are strong. The EU-Commission...