bluuebunny/crossref_metadata_2025 huggingface dataset:
Structural design and optimization of small gantry CNC milling machine
Authors: Miao Liqin , Liao Chaoneng , Zhang Dashun , Liang Huaidan , Wang Jing
Published: August 2024

In order to effectively identify the potential weak links of the milling machine and significantly shorten the product development cycle, this paper firstly designs the three-dimensional model of a small gantry CNC milling machine through SOLIDWORKS software. Then, the static stress analysis of the crossbeam, column, and the overall structure of the milling machine is carried out through ABAQUS software, and an in-depth analysis of the simulation results is conducted, to obtain strength and stiffness to meet the requirements. The structure of the gantry milling machine, through modal analysis, provides solid theoretical support for finally obtaining a CNC milling machine structure that meets the design requirements.
Improvement and prediction technology of the water-side corrosion of zirconium alloy: the developmental tendency
Authors: Long Ziyao , Pang Hua , Gao Shixin , Yue Huifang , Lan Xun , Peng Danmin , Zhou Mingyang
Published: August 2024

The cladding material serves as the primary safety barrier in nuclear power plants, and its performance significantly impacts the service life and safety reliability of fuel elements. Zirconium-based alloys (Zr), widely utilized as cladding materials in light water reactors (boiling water reactors and pressurized water reactors), face numerous challenges in an environment characterized by increasing fuel consumption, with corrosion being the foremost concern. The corrosion of Zr alloys involves multiple influencing factors, including temperature, chemical environment of water, evolution process of second phases, destruction-regeneration cycle of oxidation films, stress accumulation, volume changes, defect formation, and irradiation effects. This paper provides a comprehensive review on the field of aqueous-side corrosion of Zr alloys while also discussing technical approaches to enhance their corrosion resistance properties and presenting current development status regarding predictive technologies for assessing corrosion behavior along with predicting future trends.
Osteoblast and osteoclast activity on collagen-based 3D printed scaffolds enriched with strontium-doped bioactive glasses and hydroxyapatite nanorods for bone tissue engineering
Authors: Borciani Giorgia , Montalbano Giorgia , Perut Francesca , Ciapetti Gabriela , Baldini Nicola , Vitale-Brovarone Chiara
Published: August 2024

Bone tissue engineering (BTE) aims to promote bone regeneration by means of the synergistic effect of biomaterials, cells, and other factors, as potential alternative to conventional treatments for bone fractures. To this aim, a composite material was developed, based on collagen type I, strontium-enriched mesoporous bioactive glasses, and hydroxyapatite nanorods as bioactive and biomimetic components. Nanostructured scaffolds were 3D printed and subsequently chemically crosslinked with genipin to improve mechanical properties and stability. The developed nanostructured system was maintained in culture until 3 weeks with a co-culture of human bone cells to provide an ex vivo model of bone microenvironment and examine the cellular crosstalk and signaling pathways through paracrine cell activities. Human osteoblasts (OBs), derived from trabecular bone, and human osteoclast precursors (OCs), isolated from buffy coat samples were involved, with OBs seeded on the scaffold and OC precursors seeded in a transwell device. When compared to the material without inorganic components, the bioactive and biomimetic scaffold positively influenced cell proliferation and cell metabolic activity, boosting alkaline phosphatase activity of OBs, and reducing OC differentiation. Thus, the bioactive and biomimetic system promoted an enhanced cellular response, highlighting its potential application in BTE.
Contradictory influences of urbanization on intense convective rainfall in a subtropical city
Authors: Zhuang Qi , Koukoula Marika , Liu Shuguang , Zhou Zhengzheng , Gao Lisha , Peleg Nadav
Published: August 2024

In light of the rapid growth in cities, there is a pressing need to explore how urbanization affects extreme weather, especially short-duration convective storms that can potentially trigger urban floods. Here we use a high-resolution Weather Research and Forecasting convection-permitting model to simulate 23 summer convective storms over the subtropical city of Shanghai, China. We simulated these events in three different scenarios: present urban, no-urban, and urban-expansion settings. Results show contradictory findings of urbanization’s influence on convective rainfall, which is associated with urban-surroundings hydrothermal differences and diurnal cycles. Urban expansion further intensifies daytime convective rainfall when inhomogeneous temperature and moisture conditions between the city and its surroundings are present, whereas other conditions may suppress rainfall intensity. The findings provide the potential mechanisms of rainfall modification by urban expansion in subtropical cities, offering useful insights for urban planning and flood management in Shanghai and other rapidly urbanizing cities.
Structure and properties analysis of yttrium doped high-voltage LiNi0.5Mn1.5O4 cathode materials for Li-ion batteries
Authors: Putra T Y S Panca , Salsabila Nadhifah , Sudaryanto
Published: August 2024

High voltage cathode spinel material of LiNi0.5Mn1.5O4 was doped by yttrium (Y) element in the form of LiNi0.5Mn1.5−x
Y
x
O4 (x = 0, 0.05, 0.1) for Li-ion batteries. Structure and properties analysis was conducted to study the effect of Y addition on the crystal structure and the electrochemical performances of LiNi0.5Mn1.5−x
Y
x
O4. The results show that undoped LiNi0.5-Mn1.5O4 (x = 0) fit to cubic spinel structure with space group Fd-3m with some LixNi1-xO detected as impurities. The addition of Y with x = 0.05 and 0.1 resulted in the change of LiNi0.5Mn1.5−x
Y
x
O4 structure to space group P4
332. The Y addition was confirmed to enter 4b site co-existed with Mn and this result is closely related to the increase in lattice parameters a from 8.1384(1) Å to 8.1496(5) Å and 8.1627(1) for x = 0, 0.05 and 0.1, respectively. The cubic unit volume of LiNi0.5Mn1.5−x
Y
x
O4 also increased with increasing Y addition. The addition of Y is liable to the formation of more stable [Mn,Y]O6 and MnO6 octahedra and whole crystal structure. The result from charge/discharge analysis shows that the addition of Y resulted in decreasing discharge capacity from 123.56 mAh g−1 to 105.175 mAh g−1 and 104.369 for x = 0.05 and 0.1, respectively. However, capacity retention after the 25th cycle increased constantly from 77% to 88% and 92% with increasing Y addition. Doped Y, in general, improves the electrochemical performance of LiNi0.5Mn1.5−x
Y
x
O4 as cathode material for LIBs.
Antiholomorphic correspondences and mating I: Realization theorems
Authors: Lyubich Mikhail , Mazor Jacob , Mukherjee Sabyasachi
Published: August 2024

In this paper, we bring together four different branches of antiholomorphic dynamics: of global anti-rational maps, reflection groups, Schwarz reflections in quadrature domains, and antiholomorphic correspondences. We establish the first general realization theorems for bi-degreedd:ddcorrespondences on the Riemann sphere (ford≥2d\geq 2) as matings of maps and groups. To achieve this, we introduce and study the dynamics of a general class of antiholomorphic correspondences; i.e., multi-valued maps with antiholomorphic local branches. Such correspondences are closely related to a class of single-valued antiholomorphic maps in one complex variable; namely, Schwarz reflection maps of simply connected quadrature domains. Using this connection, we prove that matings of all parabolic antiholomorphic rational maps with connected Julia sets (of arbitrary degree) and antiholomorphic analogues of Hecke groups can be realized as such correspondences. We also draw the same conclusion when parabolic maps are replaced with critically non-recurrent antiholomorphic polynomials with connected Julia sets.
System, Purposiveness, and Depth in the Critique of the Power of Judgment
Authors: Zinkin Melissa
Published: August 2024

This chapter focuses on Kant’s discussion of the principle of systematicity from the perspective of the Critique of the Power of Judgment. It answers the question: What makes the Critique of the Power of Judgment a critique? The chapter argues that Kant’s aim in providing a critique of the power of judgment is to demonstrate that there is a pure form of judgment that judges according to its own “inner” a priori principle. The chapter then argues that this principle is the same principle that Kant discusses in the Appendix to the first Critique: reason’s principle of systematicity. What Kant wants to show in the third Critique is therefore that good judgment is reflective judgment, that its principle is the same as reason’s principle of systematicity, and that it is deep.
Sensitivity models and bounds under sequential unmeasured confounding in longitudinal studies
Authors: Tan Zhiqiang
Published: August 2024

We consider sensitivity analysis for causal inference in a longitudinal study with time-varying treatments and covariates. It is of interest to assess the worst-case possible values of counterfactual outcome means and average treatment effects under sequential unmeasured confounding. We formulate several multi-period sensitivity models to relax the corresponding versions of the assumption of sequential non-confounding. The primary sensitivity model involves only counterfactual outcomes, whereas the joint and product sensitivity models involve both counterfactual covariates and outcomes. We establish and compare explicit representations for the sharp and conservative bounds at the population level through convex optimization, depending only on the observed data. These results provide for the first time a satisfactory generalization from the marginal sensitivity model in the cross-sectional setting.
Subcutaneous Infliximab Cutoff Points in Patients With Inflammatory Bowel Disease: Data From the ENEIDA Registry
Authors: Iborra Marisa , Caballol Berta , Garrido Alejandro , Huguet José María , Mesonero Francisco , Ponferrada Ángel , Arias García Lara , Boscá Watts Marta Maia , Fernández Prada Samuel J , Brunet Mas Eduard , Gutiérrez Casbas Ana , Cerrillo Elena , Ordás Ingrid , Ruiz Lucía , García de la Filia Irene , Escobar Ortiz Jaime , Sicilia Beatriz , Ricart Elena , Domènech Eugeni , Nos Pilar
Published: August 2024

Background and Aims

Switching from intravenous infliximab (IV-IFX) to subcutaneous biosimilar infliximab (SC-IFX) has been shown to safely maintain clinical remission and increase drug levels in patients with Crohn’s disease (CD) and ulcerative colitis (UC). The aim of this study was to evaluate long-term outcomes after switching from IV-IFX to SC-IFX, including the drug concentration thresholds for maintaining remission and other predictors for loss of response after the switch.

Methods

This multicenter observational study involved CD and UC patients who were in clinical remission for at least 24 weeks and were scheduled to switch from IV-IFX to SC-IFX.

Results

Two hundred and twenty patients were included (74 UC [34%] and 146 CD [66%]). IV-IFX was administered for 52.5 months (range 25-89). Before switch, 106 (49%) patients were receiving intensified IV-IFX. While SC-IFX levels significantly increased following the switch from IV-IFX to SC-IFX, clinical parameters, C-reactive protein, and fecal calprotectin remained unchanged during follow-up. SC-IFX levels were significantly higher in patients receiving the standard IV-IFX dose than in those receiving the intensified dose. Immunomodulatory therapy at baseline and perianal disease had no effect on IFX trough levels, whereas higher body mass index was associated with increased levels. The suggested optimal SC-IFX cutoff concentration for clinical and biochemical remissions based on receiver operating characteristic analysis was 12.2 μg/mL (area under the curve [AUC]: 0.62) at Week 12 and 13.2 μg/mL (AUC: 0.57) at Week 52. Drug persistence was 92% at Week 52, with a good safety profile.

Conclusions

Switching from IV-IFX to SC-IFX safely maintains long-term remission in patients with CD and UC. In maintenance, the optimal cutoff point associated with remission was 12-13 μg/mL.
Sex-specific effect of maternal thyroid peroxidase antibody exposure during pregnancy on 5- to 6-year-old children's cardiometabolic risk score: the Ma'anshan birth cohort study
Authors: Teng Yuzhu , Zhou Jixing , Zhang Manyu , Wu Penggui , Chen Lu , Cai Wenjin , Tong Juan , Han Yan , Yan Shuangqin , Tao Fangbiao , Huang Kun
Published: August 2024

Objective

To explore the association between maternal thyroid peroxidase antibody (TPOAb) exposure and 5- to 6-year-old children's cardiometabolic risk (CMR).

Methods

A total of 2129 mother–child pairs were recruited from the Ma'anshan Birth Cohort (MABC) study. Serum TPOAb was retrospectively measured in pregnant women using an electrochemiluminescence immunoassay. CMR score was evaluated by the serum glycolipids, blood pressure, and waist circumference for children aged 5-6 years. Growth mixture modelling was used to fit trajectories of TPOAb levels throughout pregnancy. Multiple linear regression models and logistic regression models were used for statistical analyses.

Results

Two thousand one hundred twenty-nine mother–child pairs (mean [SD] age, 26.6 [3.6] years) were enrolled for the final study. Maternal TPOAb exposure in the first trimester increased children's overall CMR, glucose level, HOMA-IR, triglyceride level, boys’ overall CMR, boys’ glucose level, and girls’ glucose level. TPOAb exposure in the first trimester was also associated with lower boys’ high-density lipoprotein cholesterol (HDL-C) level. In the second trimester, maternal TPOAb exposure was positively associated with children's triglyceride level. Compared with low TPOAb trajectory, children with high maternal TPOAb trajectory had an increased risk of developing high CMR (OR = 3.40; 95% CI, 1.30-8.90), hyperglycemia (OR = 5.20; 95% CI, 2.20-12.28), insulin-resistance (adjusted OR = 2.12; 95% CI, 1.10-4.07), and hypertriglyceridemia (OR = 2.55; 95% CI, 1.06-6.14).

Conclusions

The first trimester of pregnancy is a critical period for maternal TPOAb exposure to affect CMR in children, with some sex specificity, mainly to the detriment of boys.
The impact of the introduction of tobacco product plain packaging on consumer responses in Ireland: a real-world policy evaluation stratified by socioeconomic groups
Authors: Sheridan Aishling , Conway Robert , Murphy Edward , Blake Martina , Mulcahy Maurice , Howell Fenton , Gordon Claire , Doyle Frank , Kavanagh Paul M
Published: August 2024

Smoking prevalence remains high in Europe and widening socioeconomic group differences are driving health inequalities. While plain packaging policies disrupt tobacco industry tactics that sustain smoking, evidence of their equity impact is sparse. This study evaluated the implementation of plain packaging in Ireland in 2018 on consumer responses, overall and by the socioeconomic group. Consecutive nationally representative cross-sectional surveys (2018, n = 7701 and 2019, n = 7382) measured changes in 13 consumer responses among respondents who smoked across three domains: product appeal, health warnings effectiveness, and perceived harmfulness of smoking. Multiple logistic regression-derived adjusted odds ratios with 95% confidence intervals to compare responses post- versus pre-implementation adjusting for age, gender, educational level, and heaviness of smoking. A stratified analysis examined changes by socioeconomic group indexed using educational level. There were statistically significant changes in consumer responses to plain packaging policy implementation across 7/13 outcomes studied. Five changes were aligned with expected policy impacts (2/6 product appeal outcomes and 3/4 health warning effectiveness outcomes). Two responses were also observed which were not expected policy impacts (1 appeal-related and 1 perceived harm-related outcome). There was no change in five outcomes. Differences in consumer responses between educational groups were generally small, mixed in nature, and indistinguishable when interval estimates of effect were compared. Implementation of plain packaging in Ireland had intended impacts on consumer responses. Including plain packaging requirements in revising the European Union’s legislative frameworks for tobacco control will help build progress towards a Tobacco-Free Europe without exacerbating smoking inequalities.
Tropical Timber Species Grow Faster in Full Sun Than in the Understory of Restoration Plantings
Authors: José Marina Pérola Zerbinato , Molin Paulo Guilherme , Viani Ricardo Augusto Gorne
Published: August 2024

Tropical timber species are generally shade tolerant, but preliminary studies have indicated that greater light availability can accelerate their growth. In this study, we hypothesized that native timber species can grow faster initially when planted in full sun alongside the pioneer species in high-diversity restoration plantings compared with being planted in the understory of an established forest restoration. We assessed the mortality, relative growth in height (RGH) and stem diameter (RGDGL) of eight native timber species from the Brazilian Atlantic Forest 19 months after planting. Overall seedling mortality was similar across planting conditions, and only Handroanthus heptaphyllus exhibited higher mortality in the shaded planting. The RGH and RGDGL of most species was higher in full sun planting. Therefore, our findings indicate that those tropical timber species grow faster and have higher survival rates when planted in open areas.

Study Implications: We evaluated the initial growth and mortality of eight timber species native to the Atlantic Forest, focusing on their performance in forest restoration across two distinct conditions: full sun alongside pioneer species, and natural shade beneath an established canopy. Late successional timber species exhibit accelerated initial growth rates when planted in full sunlight compared with under an established forest canopy due to the greater light intensity. Our findings strongly support the practice of planting native timber species in full sun alongside pioneer species. This approach also provides logistical advantages, potentially reducing costs compared with staggered planting methods.
Temperature modulates dominance of a superinfecting Arctic virus in its unicellular algal host
Authors: Meyer Claudia , Jackson Victoria L N , Harrison Keith , Fouskari Ioanna , Bolhuis Henk , Artzy-Randrup Yael A , Huisman Jef , Monier Adam , Brussaard Corina P D
Published: August 2024

Complex virus–virus interactions can arise when multiple viruses coinfect the same host, impacting infection outcomes with broader ecological and evolutionary significance for viruses and host. Yet, our knowledge regarding virus competition is still limited, especially for single-celled eukaryotic host-virus systems. Here, we report on mutual interference of two dsDNA viruses, MpoV-45T and MpoV-46T, competing for their Arctic algal host Micromonas polaris. Both viruses affected each other’s gene expression and displayed reduced genome replication during coinfection. MpoV-45T was the dominant virus, likely due to interference in the DNA replication of is competitor. Even when its coinfection was delayed, the dominant virus still prevailed while genome production of the other virus was strongly suppressed. This contrasts with typical superinfection exclusion, where the primary infection prevents secondary infection by other viruses. Higher temperature made the suppressed virus a stronger competitor, signifying that global warming is likely to alter virus–virus interactions in Arctic waters.
Effects of increasing SID lysine and metabolizable energy levels in lactation diets fed to young and mature sows
Authors: Estrada Jorge , Perez Jeremy G , Kyle Kelsey L , Parr Eric , Welch Michael W , Johnson Danielle C , Neill Casey , Boler Dustin D
Published: August 2024

The objective was to evaluate increasing standard ileal digestible (SID) lysine (Lys) and metabolizable energy (ME) above recommended inclusion levels fed to young (parity 1-2) and mature (parity 3-5) lactating sows. A total of 741 sows (371 parity 1-2, 370 parity 3-5) were fed in a 2×2 factorial arrangement of treatments in a randomized complete block design. Factors included SID Lys (0.85% vs 1.11%) and ME (3.18 Mcal/kg vs 3.33 Mcal/kg). Diets were formulated to deliver 62 g of SID Lys at 0.85% inclusion and 23.2 Mcal of energy to sows that consume 7.30 kg of complete feed per day. Overall, sows consumed 61 g/d SID Lys and 22.6 Mcal/kg, but because of nutrient intake differences between young and mature sows, outcome variables were analyzed separately and not statistically compared. There were no differences for either SID Lysine or ME treatment in lactation feed intake (P ≥ 0.27) or change in body weight (P ≥ 0.19) for young sows. Young sows fed 3.33 Mcal/kg ME had 0.31 fewer post-cross foster mortalities (P < 0.01) resulting in weaned litters that were 4.06 kg heavier (P < 0.01) than litters from young sows fed 3.18 Mcal/kg ME. Young sows fed 1.11% SID Lys and 3.33 Mcal/kg ME had the fewest (P ≤ 0.03) sows bred by d 7 compared to all other treatments. There was an interaction (P = 0.03) for wean-to-estrus-interval for young sows were young sows fed 1.11% SID Lys and 3.33 Mcal/kg ME were at least 3.27 days longer than young sows fed 0.85% SID Lys and 3.33 Mcal/kg ME or 1.11% SID Lys and 3.18 Mcal/kg ME. Young sows fed 3.33 Mcal/kg ME had a nearly 7% improvement in lactation G:F (0.40 vs 0.43; P < 0.01) compared to young sows fed 3.18 Mcal/kg ME. The percentage of mature sows fed 1.11% SID Lys bred by day 7 was 7.0 percentage units less (P = 0.06) when fed 3.33 Mcal/kg ME compared to 3.18 Mcal/kg ME. Feed efficiency of mature sows fed 1.11% SID Lys (0.38) was 7.89% greater (P < 0.01) than mature sows fed 0.85% SID Lys (0.35). Increasing either SID Lys or ME energy to young and mature sows had little influence on sow or pig performance, but simultaneously increasing both SID Lys and metabolizable energy negatively impacted subsequent breeding performance.
Patent Type Requirements and Procedure from Filing to Granting
Authors: Giacopello Fabio
Published: August 2024

This chapter focuses on the Patent Law and its Implementing Regulations. The Patent Law of the People's Republic of China was first adopted at the 4th Meeting of the Standing Committee of the Sixth National People's Congress on March 12, 1984 and was enforced on April 1, 1985. The current Patent Law is the result of the third amendment from its first version adopted with the Decision of the Standing Committee of the Eleventh National People's Congress on Amending the Patent Law of the People's Republic of China. The chapter shows how the Implementing Regulations to the Patent Law supplement the provisions of the Patent Law and were issued for the first time with the second amendment of the Patent Law in 2001.
Competition Law
Authors: Lianos Ioannis , Korah Valentine , Siciliani Paolo
Published: August 2024

This casebook, designed for a readership of graduate students, policy makers, and practitioners in competition law, aims to provide a comprehensive reference on EU and UK competition law. While the majority of the text comprises analysis supplemented with detailed commentary and analysis of judgments, National Competition Authorities (NCAs) and European Commission decisions, and legislation, the casebook also gives a high-level introduction to the design and history of EU and UK competition law, including an overview of the main actors and their objectives, furnishing students with the understanding of the law required to practise competition law. In particular, the book takes an interdisciplinary approach to the subject, featuring a substantial section on the economic context of competition law accessible even to those with no economics background.
The Elements of Article 101 TFEU/Chapter I of the UK Competition Act 1998: Restriction of Competition
Authors: Lianos Ioannis , Korah Valentine , Siciliani Paolo
Published: August 2024

This chapter examines the elements of Article 101 TFEU and Chapter I of the UK Competition Act of 1998 (CA98) with regard to restriction of competition within the internal market. It first provides an overview of decision theory and its role in framing competition law categories before discussing its implementation in the context of Article 101 TFEU. In particular, it considers the objective of minimizing substantive error costs and decision costs as the primary reason for the bifurcation of Article 101. It then explains object or effect to restrict competition under Article 101(1) TFEU and Chapter I CA98, citing some recent case law, including the ones involving the Beef Industry Development Society (BIDS), GlaxoSmithKline, and T-Mobile Netherlands. The chapter also analyses exemptions and exceptions to the prohibition principle by highlighting the basics of Article 101(3) TFEU and CA98.
Supplement to Chapter 8
Authors: Lianos Ioannis , Korah Valentine , Siciliani Paolo
Published: August 2024

This supplement to Chapter 8 presents case studies on dominant position, beginning with United Brands Corporation and United Brands Continental BV v Commission (1978), in which the European Commission ruled that United Brands enjoyed a dominant position over the supply of bananas in six Member States. The second case, Hoffmann-La Roche & Co AG v Commission (1979), saw the Commission impose fines under Art 102 TFEU on Hoffmann-La Roche for excluding its competitors by giving fidelity rebates to twenty-two large buyers. The Commission's ruling in the case of Tetra Pak International SA and the UK High Court's decision in Streetmap Limited v. Google are also discussed. Finally, freedom of competition, competitive structure and ‘consumer welfare’ as avenues for interpreting the concept of abuse of a dominant position are analysed, along with the structuralist and consumer welfare approaches to dominant position.
Jurisdiction: Common Provisions
Authors: Wilderspin Michael
Published: August 2024

This chapter discusses the common rules in the Brussels IIb Regulation. It explains how common rules apply irrespective of whether the court is seized of an application for matrimonial relief or parental responsibility. Article 17 determines the moment of consideration for seizing a court. The chapter considers the rules around lis pendens and dependent actions featured in Article 20. The lis pendens regime aims to prevent parallel proceedings, partly for the economy of procedure and partly to avoid inconsistent or irreconcilable judgments being handed down in different Member States. The chapter then elaborates on the Brussels IIb Regulation’s examination of jurisdiction and admissibility.
Final Provisions
Authors: Dickinson Andrew
Published: August 2024

This chapter discusses Arts 74-81 of Regulation (EU) No 1215/2012 of the European Parliament and of the Council on Jurisdiction and the Recognition and Enforcement of Judgments (Recast). Art 74 requires Member States to submit through the European Judicial Network information concerning local enforcement procedures to which judgment creditors from other Member States may resort. Arts 75 and 76 require Member States to communicate information to the Commission. Arts 77 and 78 contain procedures for amendment of the forms of the Certificates Concerning Judgments (Annex I) and Authentic Instruments/Court Settlements (Annex II) in Civil and Commercial Matters. Art 80 emphasizes that, subject to the transitional provisions in Art 66, the Recast Regulation repeals and replaces the 2001 Regulation for all purposes in EU law. Art 81 reflects the distinction in EU law between the entry into force, and application, of a Regulation.
Anti-Suit Injunctions: General Principles
Authors: Raphael Thomas
Published: August 2024

This chapter presents the general principles governing the grant of an anti-suit injunction to restrain the pursuit of foreign court proceedings. The principles for the grant or refusal of an anti-suit injunction will be determined by English law. An anti-suit injunction, like any injunction, is a discretionary remedy and will only be granted if the court considers it is appropriate to do so in all the circumstances of the case. Within that general principle, an anti-suit injunction may be granted to protect a substantive legal or equitable right not to be sued abroad. Where no such substantive legal or equitable right exists, an anti-suit injunction will generally only be granted to restrain foreign proceedings that are or will be vexatious or oppressive. In exercising the power to grant an anti-suit injunction, regard must be had to the principle of comity.
Alternative Remedies
Authors: Raphael Thomas
Published: August 2024

This chapter explores alternative remedies which may be granted by the English courts to shape, pre-empt, or respond to the pursuit of litigation elsewhere. These procedural remedies or strategies include claims for declarations; applications for the appointment of an arbitrator; procedural management; and resistance to enforcement. Where foreign proceedings are in breach of a contractual exclusive jurisdiction or arbitration clause, the courts will, in appropriate cases, grant declarations that a given set of claims is covered by an English contractual forum clause, or that the defendant is obliged to bring those claims before the chosen forum or cannot bring them elsewhere, or that the foreign proceedings are in breach of contract. Meanwhile, the court can appoint an arbitrator under section 18 of the Arbitration Act 1996.
Introduction to State Aid Law and Policy
Authors: Bacon Kelyn
Published: August 2024

In contrast to the rest of the book, which sets out the detailed rules for the application of European Union (EU) State aid control by the Commission, European Court, and national courts in particular areas, this chapter provides an introduction to the political and economic themes that have shaped the development of State aid law and practice within the EU over the last decades. The chapter provides a brief overview of the history of State aid control policy, and reviews the main reasons why States intervene in the economy and the rationale behind EU State aid control. It concludes with some general remarks on current practice in the application of the State aid provisions as well as a discussion of the avenues for reform.
Enforcement in the European Court
Authors: Bacon Kelyn
Published: August 2024

This chapter addresses in turn the various procedural routes by which State aid cases may be brought to the European Court. These include, in particular, enforcement action by the Commission under Articles 108(2) or 258 TFEU, or by Member States against another Member State under Article 259 TFEU; actions for annulment under Article 263 TFEU, actions for failure to act under Article 265 TFEU; and actions for damages against the EU under Article 340(2) TFEU. The chapter concludes by considering appeals from the General Court to the Court of Justice, and the way in which the rules on interim measures and interventions in the European Court have been applied in State aid cases.
Enforcement in the National Courts
Authors: Bacon Kelyn
Published: August 2024

This chapter discusses the role of national courts in the procedures for the enforcement of State aid in the EU. After a discussion of the Article 108(3) standstill provision, the chapter addresses the various State aid remedies available in national courts, including challenges to the validity of national measures, recovery actions, actions for reimbursement of taxes or charges, private damages actions, and a selection of other contexts in which State aid law arises in national proceedings. The principal requirements imposed by EU law on national court State aid proceedings is discussed, followed by a discussion of the situations where national State aid proceedings may interact with procedures before the European Commission and the European Courts, including in particular preliminary references, challenges in national courts to the validity of Commission decisions, requests for Commission opinions, and issues arising from concurrent domestic and EU proceedings.
Financial Market Infrastructures
Authors: Saguato Paolo
Published: August 2024

This chapter focuses on risk management. Innovation and the 2008 financial crisis forced policymakers to re-evaluate the existing approaches to the regulation of financial markets. How to effectively manage risk in the financial system became central in the political agenda, both domestically and internationally. Indeed, the necessity of building resilient and efficient financial markets drove regulators to articulate policy recommendations that incorporate the use of financial market infrastructures (FMIs) as ‘risk managers’ and that set risk management standards for the governance of financial firms. A perfect example of the regulatory interest in risk management was the reform of the over-the-counter (OTC) derivatives markets. Ultimately, reforms affected three segments of risk management: systemic risk management, organizational risk management, and transactional risk management.
Compensation in Financial Institutions
Authors: Ferrarini Guido
Published: August 2024

This chapter addresses the issue of executive and employee compensation in financial institutions. Excessive pay at financial institutions has often been indicated as one of the possible causes of the recent financial crisis, but the case for regulating compensation is rather weak, while regulation of remuneration and risk governance, and of remuneration disclosure are to some extent justified. The EU law shifted the setting of compensation from a supervisory approach to a regulatory one, adopting detailed and rigid provisions on the structure, governance, and disclosure of pay. Moreover, the Capital Requirements Directive (CRD IV) introduced an unprecedented cap to variable remuneration, which may distort incentives and produce unintended consequences on bank risk-taking. The chapter then looks at possible ways to overcome the shortcomings of EU regulation of financial institutions in the remuneration are and suggests that it should be made more flexible and proportionate within the limits allowed by the international principles.
The Dutch Banker’s Oath and the Dutch Banking Disciplinary Committee
Authors: Laaper Peter , Busch Danny
Published: August 2024

This chapter discusses the Dutch banker’s oath and the Dutch Banking Disciplinary Committee. The great financial crisis severely damaged trust in the banking sector and raised doubts about the conduct and culture of bankers. Against this backdrop, the Board of the Dutch Banking Society (Nederlandse Vereniging van Banken or NVB) appointed the Advisory Committee on the Future of Banks (the Maas Committee) in November 2008. One of the committee’s recommendations aimed at restoring trust and confidence in the Dutch banking sector was to introduce a moral and ethical declaration for bank directors and certain other groups of employees. The idea of a banker’s oath was thus born. To enforce compliance with the banker’s oath, the NVB established the independent Foundation for Banking Ethics Enforcement (Stichting Tuchtrecht Banken, FBEE). The FBEE has set up the world’s first statutory disciplinary board for the banking sector, the Dutch Banking Disciplinary Committee.
The Spanish Banking Crisis as a Corporate Governance Problem
Authors: Sáez Maribel , Gutiérrez María
Published: August 2024

This chapter assesses the Spanish banking crisis. Spain experienced strong economic growth and a real estate boom during the first years of the century. Nevertheless, by the end of 2007, when the first signs of trouble appeared in the international financial markets, this phenomenal growth period in Spain had come to a halt. The banking crisis that ensued was exacerbated by three key factors. The first factor, which was common to other European countries, was the strong dependence of the Spanish banks on international debt markets. The second factor, common to all the Eurozone countries, was that, being part of the monetary union, Spain lacked a Lender-of-Last-Resort and the Bank of Spain was unable to offer liquidity when the crisis struck. Finally, the third factor, which was unique to the Spanish banking crisis, was the importance of the Caja de Ahorros in the Spanish banking system.
Transfer Pricing and the Arm's Length Principle After BEPS
Authors: Collier Richard , Andrus Joseph L
Published: August 2024

This book examines the transfer pricing rules, including the arm's length principle (ALP), in the context of the G20 / OECD Base Erosion and Profit Shifting (BEPS) project. It considers the nature and scope of the transfer pricing rule starting with an explanation of how and on what basis the rules were created. It provides clear analysis of the rules as they are applied currently, and tackles problems with the model. The issues highlighted include problems relating to the complexity of the rules the use of comparables and, in particular, the problem of ‘excessive capital’. Having established the rules and inherent problems, the book goes on to examine the extent to which the work undertaken by the BEPs project will provide a solid foundation for future transfer pricing determinations.
The Development of the ALP
Authors: Collier Richard S , Andrus Joseph L
Published: August 2024

This chapter traces the evolution of the ALP since its original adoption in the 1920s and 1930s. In very broad terms, the stages of its evolution may be characterised as involving four distinct phases. The period prior to 1968 was a period in which the primacy of the ALP as an income allocation tool was established. Next, the period from the mid-1960s to the mid-1980s represented a sharp corrective to the position of complacency, and it was in this period that the emphasis shifted to a highly detailed elaboration of transactional pricing. In the period from the mid-1980s, that detailed transactional pricing approach was taken further, and some of the perceived fundamental difficulties arising from that approach began to be addressed. Finally, the period since 1995 has been characterised by the proliferation across the globe of highly detailed compliance regimes relating to transfer pricing and by increasingly difficult issues.
The Test for Expropriation. The Main Factors
Authors: Cox Johanne M
Published: August 2024

This chapter considers the main factors in the test for expropriation. It first examines the impact of measures in determining whether there has been an indirect expropriation, focusing on how the courts and investment treaty tribunals deal with the question of substantial deprivation of rights. It then looks at permanent deprivation required in expropriation and the recognition by tribunals that temporary measures can amount to an expropriation. It also discusses cases of expropriation which have been distinguished by tribunals from failed business ventures that have suffered losses as a result of normal commercial risk, the intentions of the State (and purpose of the measure) and whether a State is internationally responsible for both its acts and omissions, and the concept of partial expropriation.
Electronic Documents in Maritime Trade
Authors: Goldby Miriam
Published: August 2024

This book provides a critical analysis of electronic alternatives to documents used in the international sale of goods carried by sea, including invoices, bills of lading, certificates of insurance, as well as other documentation required under documentary credits, and payment processing arrangements. It constitutes an in-depth discussion of their legal status and the practices relating to their use. The book examines recent developments in the evolving digital transformation that is taking place in the field of international trade. It examines the commercial pressure to move from paper to electronic data, and the new technologies and relationships built for this purpose. This transition is ever evolving and as such an understanding of the attendant legal implications of the change is crucial. Analysis is provided on the adoption by UNCITRAL of its Model Law on Electronic Transferable Records and on the Uniform Rules on Bank Payment Obligations. The book considers the practical workings and legal underpinnings of new electronic bill of lading platforms. It also examines the legal implications of proposed uses of new technologies such as distributed ledger technologies (including blockchain), Internet of Things, and smart contracts. In doing so, the book provides a complete and practical analysis of e-documents in cross-border business contracts for goods carried by sea. It examines recent trends in practice and assesses the ability of electronic alternatives to achieve legal functions performed by the paper documents they replace.
Cargo Insurance Documents and the Functions that They Perform
Authors: Goldby Miriam
Published: August 2024

This chapter describes cargo insurance documents and the functions that they perform. In contracts for the international sale and carriage of goods, the goods to be carried may need to be insured against damage or loss for the period of the carriage. The insurance usually covers the whole period of transit even if a portion of it takes place by methods other than sea carriage. The agreement between the parties to the contract of sale will usually determine who between them is responsible for insuring the goods. Many cargo insurance contracts are made subject to English law and practice under the Joint Cargo Committee (JCC) Institute Cargo Clauses (ICCs). English law on marine insurance is to be found enshrined in the Marine Insurance Act 1906. In the US, where marine insurance law remains uncodified, English law is referred to in deciding disputes.
Limitation on Claims within Article 74
Authors: Zeller Bruno
Published: August 2024

This chapter looks at the limitations on the right to claim damages under the United Nations Convention on Contracts for the International Sale of Goods (CISG). A breach of a contract within the CISG does not give unlimited access to damages. Thus, it must be stressed that principles limiting damages must be found within the four corners of the CISG and there should be no recourse to domestic principles. Three limiting factors need to be considered: the foreseeability rule contained in article 74; a duty to mitigate damages by the promisee pursuant to article 77; and the exemption from paying damages for those breaches that are due to an impediment beyond the control of the breaching party pursuant to article 79.
Calculation of Losses under Article 74
Authors: Zeller Bruno
Published: August 2024

This chapter explains how losses pursuant to article 74 of the United Nations Convention on Contracts for the International Sale of Goods (CISG) are to be calculated. Article 74 clearly stipulates that the plaintiff can claim only losses that have been suffered as a consequence of the breach. Losses are divided or categorized into direct losses, incidental losses, consequential losses, and loss of profit. Article 74 does not specifically mention a concrete calculation and therefore does not directly disallow an abstract one either. However, the tone of the article certainly suggests that losses, in order to be proven, should be calculated on a concrete basis. Arguably, a hypothetical or abstract calculation can be accepted if both parties agree to it, but any unilateral suggestion of an abstract nature appears to be rejected by the courts.
Safeguarding Financial Assets
Authors: van Setten Lodewijk
Published: August 2024

This chapter examines the legal requirements for safeguarding money, book-entry securities, and central counterparty (CCP) cleared contracts. It first considers the duty of banks and investment firms to safeguard proprietary interests in account-based assets before discussing the equitable character of the investor’s interest in client assets received in trust by investment firms. In particular, it explains amounts owed as a bank and netting in current account versus amounts owed not as a bank but as an investment firm; creation of account-based securities entitlements through immobilisation or dematerialisation in the hands of central securities depositories (CSDs); safeguarding of proprietary rights throughout the custody chain; and settlement of the trust on a common fund of client securities. The chapter also analyses the safeguarding of contracts cleared through a CCP system, along with collateralisation and netting techniques used in mitigating default risk.
Cryptocurrencies and the Conflict of Laws
Authors: Dickinson Andrew
Published: August 2024

This chapter examines the range of challenges raised by virtual cryptocurrencies for the conflict of laws in England and other jurisdictions in the European Union, along with possible ways of addressing those challenges. It first provides an overview of virtual currencies and cryptocurrencies before discussing the regulatory challenges presented by cryptocurrencies as a form of ‘disruptive technology’ for the conflict of laws. It then considers the law applicable to the relationships between participants within a cryptocurrency system, with reference to Bitcoin and Ripple, and the question of whether virtual cryptocurrencies are capable of constituting ‘money'’ with equivalence to national (fiat) currencies. The chapter concludes with an analysis of how virtual cryptocurrencies should be characterised as property in the conflict of laws, focusing on the law applicable to assignments of claims under/outside the Rome I Regulation.
The Single Supervisory Mechanism for Banking Supervision
Authors: Wymeersch Eddy
Published: August 2024

This chapter states that the creation of the banking union is one of the most prominent decisions in the field of financial regulation and constituted the basis for the renewed confidence in the European banking system after the 2007–2008 financial crises. By centralizing the supervision of the largest banking groups and harmonizing their supervisory regime, the Single Supervisory Mechanism (SSM) strengthened the effectiveness and the coherence of banking supervision, in the euro area, starting in 2014. Also, in 2014, the Single Resolution Mechanism became operational. The third pillar of the banking union is the European Deposit Insurance Scheme which will offer, along with the national deposit guarantee schemes and the resolution fund, an effective protection to bank creditors. Decision-making and supervision is centralized at the European Central Bank, although for the less significant banks the national authorities excise the first line of supervision. Special attention goes to the governance of the SSM within the European Central Bank, including independence and accountability.
Bank Resolution in Practice
Authors: Ferrarini Guido , Piantelli Alberto Musso
Published: August 2024

This chapter explains that resolution lies at the heart of both the Bank Resolution and Recovery Directive and the Single Resolution Mechanism Regulation and that the preservation of taxpayers’ money through bail-in is one of its main political and ideological objectives. However, there are shortcomings in bail-in mainly due to small savers’ involvement and contagion effects. Moreover, the new regime does not cover ‘normal’ insolvency proceedings that remain regulated under national law, raising the issue of the relationship between EU resolution and national insolvency proceedings. The chapter deals with the cases of the Venetian Banks in Italy and Banco Popular in Spain. It concludes that, notwithstanding prompt regulatory responses to the 2008 crisis, the road to effective and credible bank resolution is slow and bumpy. The EU resolution framework is at risk of being displaced by path-dependent national rules, while the bail-in doctrine has met with opposition in practice, remaining de facto largely unapplied in major crisis episodes. Clearly, politicians and the public in general are still unprepared for a radical change in approach to crisis management.