bluuebunny/crossref_metadata_2025_split huggingface dataset:
The Netherlands
Authors: Lazić Vesna , Schluep Alexandra 
Published: August 2024

Abstract
This chapter examines the arbitration system of the Netherlands. It first provides a historical background on arbitration law in the Netherlands and an overview of the current status of the law before discussing the distinction between national and international arbitration, along with the practice of arbitration in the country. It then considers the jurisdiction of the arbitral tribunal, with particular emphasis on the arbitration agreement itself (eg, arbitration clause and submission agreement, law applicable to the interpretation of arbitration clauses), the issue of arbitrability in the context of international arbitration, and decision on the arbitral tribunal’s jurisdiction (‘competence-competence’). It also describes the constitution of the arbitral tribunal (eg, number and qualification of arbitrators, appointment of arbitrators), the arbitral procedure, the procedure for rendering the arbitral award, and the question of liability of arbitrators. Finally, it analyses the rules for enforcement of national and foreign awards in the Netherlands.
Singapore
Authors: Yeo Alvin , Wei Lee Lim 
Published: August 2024

Abstract
This chapter examines the arbitration system of Singapore. It first presents a short history of arbitration law in Singapore before discussing the current status of the law, the distinction between national and international arbitration, and the practice of arbitration in the country. It then considers the jurisdiction of the arbitral tribunal, with particular emphasis on the arbitration agreement itself (eg, law applicable to the interpretation of arbitration clauses, binding effect of an arbitration clause on third parties), the issue of arbitrability in the context of international arbitration (‘personal arbitrability’, ‘objective arbitrability’), and enforcement of an arbitration agreement within or by court proceedings. The chapter also describes the constitution of the arbitral tribunal, the arbitral procedure, how the arbitral award is determined and rendered, and the question of liability of arbitrators. Finally, it analyses the enforcement of national and foreign awards in Singapore.
The Definition of State Aid
Authors: Bacon Kelyn 
Published: August 2024

Abstract
This chapter explains what constitutes State aid for the purposes of Article 107(1) TFEU, as interpreted by the Commission and European Court. The criteria of an economic advantage, State resources/imputability, selectivity, and effects on competition and inter-State trade are discussed extensively, both by reference to the general principles and with reference to specific examples from the case-law of the European Court and the decisional practice of the Commission. References are also made to the guidance provided by the Commission’s Notice on the Notion of State aid. The chapter also considers the application of Article 107(1) to services of general economic interest, and summarises the rules on de minimis aid.
Transport
Authors: Bacon Kelyn 
Published: August 2024

Abstract
This chapter sets out the State aid rules applying in the field of transport, which is defined as all means of land, air, and sea-based transport, as well as infrastructure that is used to provide transportation services such as ports, roads, airports, and railway lines. It also discusses aid to the shipbuilding sector. The chapter begins with an outline of the legislative framework, which includes specific Treaty provisions on transport and sectoral secondary legislation, as well as the general State aid rules. The subsequent sections address in detail the State aid rules applicable to the rail transport, road transport, inland waterways, intermodal transport, air transport, and maritime transport/shipbuilding sectors.
Governance Problems in Dutch Financial Institutions from 2007 to 2017
Authors: de Jong Bas 
Published: August 2024

Abstract
This concluding chapter explores the governance problems in Dutch financial institutions from 2007 and onwards. Three cases are especially worth mentioning: the takeover of ABN AMRO Bank by a consortium involving Fortis Bank, Santander, and RBS, and the subsequent rescue of Fortis/ABN by the Dutch State; the collapse of DSB (Dirk Scheringa Beheer) Bank after a bank run; and the nationalization of SNS Reaal (the holding company of bank and insurance companies) by the Dutch State. The DSB case, dealing with a not systemically relevant bank, clearly shows that an unbalanced governance structure can eventually lead to bankruptcy. Board composition and fit and proper testing also matter a great deal. As such, fit and proper testing in the Netherlands is now stricter, taking into account not only individual board members, but also the board as whole.
Practical and Theoretical Problems Encountered in Applying the Arm’s Length Principle
Authors: Collier Richard S , Andrus Joseph L 
Published: August 2024

Abstract
This chapter examines in greater detail several of the alleged shortcomings of transfer pricing rules based on the ALP. Critics of the ALP argue that various aspects of the ALP cause the existing transfer pricing rules to fall short of the objective of providing a clear and efficient means for accurately allocating income among members of a multi-national enterprise (MNE) group. Such problems, this chapter argues, fall into three categories. A first set of issues involves matters that are conceptual in nature. Next are the problems that are entirely practical in nature. Finally, there is a set of challenging treaty interpretation issues regarding the scope and purpose of Article 9 of the OECD Guidelines and the ALP.
BEPS Modifications to Transfer Pricing Rules
Authors: Collier Richard S , Andrus Joseph L 
Published: August 2024

Abstract
This chapter describes the principal changes in the application of the ALP adopted in connection with BEPS. From the outset of the BEPS Project in 2013, it was understood that corporate tax base erosion was a multifaceted problem. The ALP had been a direct target of some of the most vocal critics of corporate tax avoidance. It was therefore politically imperative that transfer pricing be one of the primary areas of focus in the BEPS Project. The problems with the transfer pricing system described in the two previous chapters were not secrets by any means. It was well understood that the existing transfer pricing rules, at least in the way they were being applied, were not preventing the type of income shifting into tax favorable locations that the BEPS Project intended to counteract.
Remedies in Customary International Law
Authors: Cox Johanne M 
Published: August 2024

Abstract
This chapter examines the remedies for international wrongful acts under customary international law and how they can apply to cases of expropriation in investment treaty arbitrations in two instances. It first considers the two principal sources of customary international law for remedies in investment treaty arbitration, namely: the Chorzow Factory case and the ILC Articles. The Chorzow Factory case distinguishes between lawful expropriation and expropriation which is illegal, wrongful, or unlawful, and the consequences that follow: for lawful expropriation, the remedy is the treaty standard of compensation; for unlawful expropriation, the remedy is full reparation. The chapter also explains the relevant provisions of the ILC Articles with regard to reparation (restitution, compensation and satisfaction), interest, contribution and moral damages. A number of cases dealing with these various remedies are discussed.
Damages Under the Convention on Contracts for the International Sale of Goods
Authors: Zeller Bruno 
Published: August 2024

Abstract
This third edition of the only work to focus on damages under the United Convention on Contracts for the International Sale of Goods (CISG) maintains its purpose as the primary reference source for this topic. Addressing global judicial and arbitral decisions, the book demonstrates the differences between uniform international instruments and domestic laws, and comparatively analyses the calculation of damages under civil and common law systems under the CISG. A new chapter on penalty clauses examines the impact of recent cases in England (Cavendish Square Holding BV v Makdesi) and Australia (Paccioco v Australia and New Zealand Banking Group Ltd) concerning the interpretation of penalty clauses and their relationship with the CISG. Further new material includes: an expanded discussion of the question of good faith; new approaches relating to attorneys’ fees; consideration of states that have recently ratified the CISG; and an examination of the developments in the EU in relation to the attempt to introduce a new harmonised contract law.
Exemptions
Authors: Zeller Bruno 
Published: August 2024

Abstract
This chapter studies the effects of unforeseen circumstances on a contract. The approach to changed circumstances varies from country to country, and there is simply no uniformity in approach. The classic concepts of force majeure and hardship are the basis on which attempts have been made to solve the problem of non-performance of a contract. Generally speaking, the aim of force majeure is to settle a contract through either suspension or termination of obligations. However, termination of a contract is always the last resort. The United Nations Convention on Contracts for the International Sale of Goods (CISG) attempts to keep the contract alive as long as is practicably possible. Article 79 indicates that a settlement of the dispute and hence a continuation of contractual obligations is possible. Only in cases where the impediment falls under articles 49 and 25 can the contract be avoided.
The UNIDROIT Principles and the CISG
Authors: Zeller Bruno 
Published: August 2024

Abstract
This chapter examines the interplay between the United Nations Convention on Contracts for the International Sale of Goods (CISG) and the UNIDROIT Principles of International Commercial Contracts (UNIDROIT Principles). The UNIDROIT Principles are a valuable tool in the interpretation of the CISG and can serve as terms in a contract. The optimum use of these international instruments would be to include the UNIDROIT Principles as terms into a contract, and the CISG would be the substantive law supplementing the contract. However, this would be asking the near-impossible, as far too many legal advisors still prefer to take shelter in domestic laws than to utilize international uniform laws. Nevertheless, it should be noted that the UNIDROIT Principles are already used in arbitral proceedings to resolve substantive issues.
Regional Developments and the CISG
Authors: Zeller Bruno 
Published: August 2024

Abstract
This chapter explores the various regional developments in relation to their utility compared with the United Nations Convention on Contracts for the International Sale of Goods (CISG). There were several regional developments in attempting to draft a contract laws which were either in competition with the CISG or attempted to assist the CISG in the harmonisation effort of creating a global contract law. The EU was a big driver in this attempt not only creating the Principles of European Contract Law (PECL) but also the Common Frame of Reference (CFR) and lately, the Common European Sales Law (CESL). It can be argued that the problem in the EU is the issue that formulating agencies are not flexible in choosing an instrument and in conceiving ways in which hard and soft law may best supplement each other.
Money and Value
Authors: Gleeson Simon 
Published: August 2024

Abstract
This chapter looks at money’s most fundamental attribute: it is perceived as something that has value. It should be reasonably clear that something which was not perceived as having value would by definition have none of the traditional characteristics of money—a unit of account, a medium of exchange, and a store of value. It is important to understand what it is that gives money value in order to answer the question of whether virtual currency can be said to be valuable in the same way. One approach to this topic is addressing the criterion ‘store of value’. The chapter argues that out of the three, it is the one which is least unique since almost any commodity can function as a store of value.
Judicial Protection of Supervised Credit Institutions in the European Banking Union
Authors: Arons Tomas 
Published: August 2024

Abstract
This chapter considers how legal and practical difficulties impede a full-fledged centralization of EU financial supervision and bank resolution. Under the European banking union regime, the ultimate policy- and decision-making powers in bank supervision and resolution lay with the European Central Bank and the Single Resolution Board (SRB) respectively. National competent authorities (NCAs) take, on the instruction of the European Central Bank and/or the SRB, decisions addressed to individual credit institutions. This system of two-level decision-making requires challenging both decisions with potentially conflicting court decisions. Ideally judicial review is centralized to mirror the centralized policy and decision-making powers. However, the Court of Justice of the European Union is overloaded with cases already. It is submitted that a specialized court, the Tribunal of Financial Supervisory and Resolution Affairs, attached to the General Court is established to hear and determine at first instance action or proceedings brought against the European Central Bank and/or the SRB in matters relating to decisions taken in exercising its supervisory and resolution powers.
The EU Framework Dealing with Non-Performing Exposures
Authors: Avgouleas Emilios 
Published: August 2024

Abstract
Non-performing loans (‘NPLs’) are bank loans that are subject to late repayment or are unlikely to be repaid by the borrower. The chapter refers to the debilitating NPL crisis between 2010 and 2017 which hit the EU, especially the eurozone banking sector. Today the highest levels of NPLs are observed in the Economic and Monetary Union periphery (Greece, Cyprus, Portugal). Once a bank asset is recognized as non-performing, a number of options are open to the bank from renegotiating the exposure to completely writing it off. Recovery will take place either by restructuring the debt contract or from the open market if the bank sells the asset or liquidates the requisite collateral. Loss is minimized where the legal system is functioning in a way that makes loan recovery and asset disposal procedures not very burdensome. High levels of NPLs can weigh on bank solvency, financial stability, and economic growth. The EU bodies and the European banking union authorities have set out ambitious goals for further reduction of NPLs on a pan-European basis through the EU Action Plan for NPLs.
European Deposit Insurance system (EDIS)
Authors: Colaert Veerle , Bens Gilian 
Published: August 2024

Abstract
While the first two pillars of the banking union, a Single Supervisory Mechanism (SSM) and a European Resolution Mechanism (SRM), have been realized rather smoothly, the realization of the third pillar, a European Deposit Insurance System (EDIS), proves a bigger challenge. Already in November 2015 the European Commission issued its EDIS proposal. One year later, the European Parliament rapporteur proposed important amendments in her draft report. Since then, the legislative train has stopped, with the Council making the EDIS discussion dependent on additional risk reduction measures for the banking sector. This chapter examines the goals of creating EDIS, as well as the reasons and possible solutions for the long-lasting deadlock, and critically assesses the main features of the different versions of EDIS currently on the table. It concludes that the competing visions on EDIS equally further banking stability and allow efficient co-operation between the three pillars. From a banking stability perspective, more important than the exact version of EDIS would be other measures to complete the banking union, such as the realization of a common backstop for both the Single Resolution Fund and EDIS.
Other Liabilities of the Seller and Liabilities of Third Parties
Authors: Bridge M G 
Published: August 2024

Abstract
This chapter deals with liabilities concerning the supply of non-conforming goods that fall outside the Sale of Goods Act. The liabilities may be those of the seller for innocent misrepresentation or breach of express warranty, or they may be those of a third party to the contract of sale, such as a producer. The importance of the statutory implied terms is such that the liabilities of the seller dealt with here are, in comparison, of secondary importance. Express warranty, for example, has played a relatively minor role in sale of goods, compared to other areas of law, because of the statutory implied terms. Third parties may be liable to a buyer on the basis of a collateral warranty, or in the tort of negligence or under statute laying down strict product liability.
Termination of the Contract for Breach
Authors: Bridge M G 
Published: August 2024

Abstract
This chapter deals with the right of one contracting party to terminate the contract as a result of the other party's breach. As expressed in the Sale of Goods Act, this right is known as the right to treat a contract as repudiated. The right to terminate for breach can arise in two types of cases. First, focusing on the factual consequences of breaching a contractual term, these may be so serious that the injured party is entitled to terminate. The requisite degree of seriousness is expressed in a number of ways. Second, focusing on the nature of the contractual term, the term in question may be regarded by statute, the express intention of the parties, or the implied intention that arises from established commercial practice, as being so important that any breach of that term, regardless of its consequences, severe or slight, gives rise to the right to terminate.
Choice of Law for Unjust Enrichment, Equitable Obligations, and Trusts
Authors: Chong Adeline , Yip Man 
Published: August 2024

Abstract
This chapter explores the choice of law rules for three legal categories: unjust enrichment, equitable obligations and trusts. Under Singapore domestic law, restitution is recognised as an umbrella topic where different causes of action may give rise to a restitutionary remedy, which is assessed with reference to the defendant’s gain. The Singapore Court of Appeal accepted a two-fold classification of the subject revolving around restitution for unjust enrichment and restitution for wrongs. According to some scholars, the third branch of the law of restitution is proprietary restitution which involves situations where the claimant seeks a proprietary remedy, such as where it is alleged that property is impressed with a resulting or constructive trust. The chapter then elaborates on the choice of law rules for trusts, including the inter vivos express trusts. It also considers the choice of law rule for equitable obligations such as breach of fiduciary duties.
International Insolvency and Corporate Restructuring
Authors: Chong Adeline , Yip Man 
Published: August 2024

Abstract
This chapter explicates the corporate insolvency and restructuring regime in line with the applicable jurisdiction and choice of law rules in Singapore. It explains that Singapore is in an ideal spot to position itself as a cross-border insolvency and restructuring hub, especially when the nation is one of the leading financial centres regionally and globally. The Singapore court will recognize foreign insolvency and restructuring proceedings and offer assistance for the foreign proceedings under both the common law and the UNCITRAL Model Law on Cross-Border Insolvency. The chapter also examines the cross-border issues considered concerning corporate insolvencies and bankruptcies. It recognizes the establishment of the Judicial Insolvency Network as part of the proactive attempts of the Singapore judiciary to elevate Singapore’s status as an international insolvency and restructuring hub.
PRA Approach to the Authorisation of International Branches and Subsidiaries
Authors: Cunningham Clive , Dillon Katherine , Matthews Alison 
Published: August 2024

Abstract
This chapter explores the Prudential Regulation Authority’s (PRA) approach to the authorisation of international banks and (re)insurers. EEA banks and (re)insurers seeking to maintain a UK presence post-Brexit once passporting ceases must apply for authorisation from the PRA to operate either as a branch or a subsidiary—in common with other overseas or third country banks from outside the EEA. Authorisation applications will be determined by the PRA in consultation with the UK Financial Conduct Authority (FCA), which already regulates passported EEA bank and (re)insurer branches for conduct of business purposes. (The FCA is the primary licensing authority for most UK and overseas financial sector firms, other than banks, (re)insurers, and certain systemically important ‘designated’ investment firms.) A branch may be the preferred route for many overseas firms. In practice, however, the PRA will decide whether a branch structure is acceptable. The availability of the branch route will depend on whether the proposed UK business model falls within the PRA’s stated risk appetite for branch authorisation. If it does not, it may require the application to establish a separate UK subsidiary. The FCA is currently reviewing its approach to the authorisation of all overseas firms and intends to consult on its approach to branches and subsidiaries (including its expectations on the need for a physical presence in the UK).
MREL/TLAC
Authors: Morris Charles H R 
Published: August 2024

Abstract
This chapter addresses the related concepts of minimum requirements for own funds and eligible liabilities (MREL) and total loss absorbing capacity (TLAC), which represent a major cross-over point between capital adequacy and resolution-related regulations. In many respects, they function as capital adequacy requirements, but their origin lies in the development of modern bank resolution-driven regulation. The purpose of MREL/TLAC requirements is to ensure that banks and other firms have, at all times, sufficient outstanding liabilities that could be bailed-in, if the need were to arise, whilst leaving the post-resolution entities with sufficient capital to continue business and work towards a full recovery. The chapter then looks at the basis on which such MREL/TLAC requirements are set, and satisfied. Most importantly, it examines how such requirements drive the internal financial structures of modern bank, and many other financial services, groups.
Cross-border Influences and Tensions on Resolution Groups
Authors: Morris Charles H R 
Published: August 2024

Abstract
This chapter explores how different resolution regimes and resolution authorities interact in the resolution of a group, and the tensions and challenges that may thereby arise. Like prudential supervisors, resolution authorities are faced with the problem that their powers can generally only be directly applied to entities incorporated in their jurisdiction, meaning that resolution authorities must work together to resolve a cross-border group. In the prudential regulatory space, supervisors work together as colleges: the equivalent in resolution is the Crisis Management Group (CMG). Meanwhile, although there are parallels in the international tensions between prudential regulators/regimes and resolution authorities/regimes, these tensions are stronger in a resolution context. This is because the function of a prudential regulator is inherently more passive, and less active, than that of a resolution authority. A resolution authority’s ability to resolve a group is more likely to depend upon cooperation with host authorities, and to be more vulnerable to challenges and impediments posed by uncooperative or hostile host resolution authorities, legal systems, and judicial authorities.