A businesses can divide its corporate structure into an operating entity and an owning entity to escape judgment debt that arises from law suits. The operating entity conducts the business and is vulnerable to any liability the company may suffer. The owning entity controls corporate assets but is not subject to liability. Such a corporate structure renders businesses judgment proof. No principle of law exists that would allow courts to combine the two separate entities to combat judgment proofing.
The author responds to comments made in this issue by Lynn M. LoPucki and Charles W. Mooney, Jr. concerning the author's disagreement with LoPucki's argument that corporations use mechanisms to obtain a judgment proof status and corporate law does not address this negative trend.
The author responds to comments made by Steven L. Schwarcz largely arguing against the author's prior articles asserting that corporations use mechanisms to obtain a judgment proof status and corporate law does not address this negative trend.
... that these actions would frustrate any judgment respondents could obtain, respondents requested a ... sophisticated foreign-haven judgment proofing strategies, coupled with technology that permits t...
The author shortly discusses the debate between Steven L. Schwarcz and Lynn M. LoPucki, included in this issue, concerning LoPucki's argument that corporations use mechanisms to obtain a judgment proof status. He continues by addressing related issues of underlying economic policy with a focus upon bankruptcy law and policy.
... sophisticated foreign-haven judgment proofing strategies .. coupled with technology that permits...
NMFS has received an application from the U.S. Navy (Navy) for an Incidental Harassment Authorization (IHA) to take marine mammals, by harassment, incidental to construction activities as part of a wharf construction project. Pursuant to the Marine Mammal Protection Act (MMPA), NMFS is requesting comments on its proposal to issue an IHA to the Navy to take, by Level B Harassment only, six species of marine mammals during the specified activity.
... for their final 10-15 ft (3-4.6 m) for proofing, as necessary. Proofing involves striking a driven... would use their best professional judgment throughout implementation and would seek improveme...
This article offers an explanation of the "doctrine" of directors' duties to creditors. Courts frequently say -- but rarely hold -- that corporate directors owe duties to or for the benefit of corporate creditors when the corporation is in distress. This article explores these two puzzles, and argues that these cases are best understood as examples of "expressive" judging, exhortations to good behavior not necessarily tethered to meaningful instrumental consequences. It identifies four expressive themes in these decisions on, among other things, director discretion, the boundaries of acceptable conduct towards creditors, the role of contract, and the educative function of courts. The article concludes by noting several doctrinal gaps created by some of the recent case law, and suggests ...
... with a single asset-a significant judgment, on appeal, against a solvent corporation. The cor... simply sophisticated forms of judgment-proofing devices which would inevitably harm involuntary or...
Introduction I. Aesthetics And Law II. Aesthetics Of Commercial Law A. The Energy Aesthetic B. The Grid Aesthetic C. The Instrumentalist Aesthetic III. The Sublime And The UCC IV. COnsequences Of Aesthetics Of Commercial Law A. Common Refrains Against Reform B. The Export of U.S. Commercial Law Models 1. One Theory of Imperial Law 2. Resisting Imperial Dualism Conclusion
...Westbrook writes:. Our awareness of judgment, aesthetic qualities, at the root of our reasons m... securitization to be a form of judgment- proofing. 101 Companies can judgment-proof themselves by t...
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