bluuebunny/crossref_metadata_2025_split huggingface dataset:
Capital Requirements for Bank Exposures to CCPs
Authors: Peters Marc 
Published: June 2024

Abstract
This chapter focuses on the bank capital requirements that apply to exposures to central clearing counterparties (CCPs), in particular in the context of the central clearing mandate for over-the-counter (OTC) derivatives. It begins by explaining the prudential treatment of derivative exposures towards CCPs and how it acknowledges the market structure, the clearing value chain, and the way market participants, including banks, access CCPs. The chapter explains how the determination of capital requirements adjusts to the role of a bank in a cleared transaction, including in multi-level client structures, and to the risk profile of CCPs. The chapter then continues with the treatment of exposures in the context of uncleared transactions and further provides an overview of other areas of the prudential framework for banks that have been influenced by the central clearing mandate. It concludes with some considerations on the future central clearing landscape.
Default Management
Authors: Horner David 
Published: June 2024

Abstract
This chapter addresses how strong default management capabilities are essential for any reputable clearing house to function. It seeks to understand how a modern central counterparty (CCP) prepares itself to be successful in this discipline. The chapter begins with a summary of the historical context, including the default of Lehman Brothers in 2008 and the European Market Infrastructure Regulation (EMIR) and Dodd–Frank legislation which followed. It then discusses the CCP’s financial resources: variation margin, initial margin (including for large, concentrated positions), skin in the game, the default fund, and the unfunded ‘deep waterfall’ tools. The chapter also describes important default management logistics such as default decision-making, hedging, auctions, client porting, and participation incentives. Finally, it examines the important role played by ‘fire drill’ exercises in ensuring that the CCP and its stakeholders are well prepared.
Recovery and Resolution of CCPs
Authors: Serière Victor de 
Published: June 2024

Abstract
This chapter explores the European rules on recovery and resolution of central counterparties (CCPs), as set out in Regulation (EU) No. 2021/23 of 16 December 2020 (the Regulation). The Regulation provides a detailed regime to apply to CCPs that fail or threaten to fail. It deals with anticipatory recovery and resolution planning, early intervention measures, and, ultimately, resolution. The resolution regime kicks in if it is determined that resolution is necessary in the public interest, as will more likely than not be the case for most CCPs. The Regulation is, to a large extent, inspired by the European rules on the recovery and resolution of banks and larger investment firms, which, to date, remain largely untested. However, the Regulation takes into account the functions and organizational structures of CCPs, which are fundamentally different from those particular to banks, and it is aligned and complementary to the more general provisions of the European Market Infrastructure Regulation (EMIR).
Clearing and Trading and Settlement
Authors: Thomadakis Apostolos , Lannoo Karel 
Published: June 2024

Abstract
This chapter begins by introducing what clearing is, the value-added of central counterparty (CCP) clearing, and its advantages and potential concerns. It analyses the evolution of the derivatives market and the trading activity over the years before describing the settlement process and the settlement service providers. Derivatives markets allow local economic exposures to be shared globally, thus efficiently transferring risk. Since the global financial crisis (GFC), central clearing has been at the forefront of the financial regulatory agenda, which resulted to increasing transparency and reducing risks. Nevertheless, a few global financial centres have specialized and are now clearing the lion’s share of global trades. Concerns about the concentration of risk in third-country CCPs and foreign currency exposure has been an issue among EU policymakers and supervisors for the past two decades. The chapter then presents a long-term vision for the future of the European clearing market, taking financial stability, efficiency, and the development of Europe’s financial markets into account.
The Emerging Human Rights and Environmental Due Diligence Responsibility of Financial Institutions
Authors: Bismuth Régis 
Published: June 2024

Abstract
The responsibility of financial institutions in the global value chain of money appears to be one of the new frontiers of corporate accountability. This chapters explores the different legal channels through which the responsibility of financial institutions may be incurred when their activities are linked to or generate adverse environmental and human rights impacts. It intends to understand what major trends are currently shaping how the issue of the responsibility of financial institutions in such cases is likely to be addressed. In that regard, this chapter first clarifies the distinction between the respective obligations of public and of private financial institutions. It then explores the growing importance of the due diligence paradigm for corporations in a litigation context. At the end, it considers what due diligence entails or could entail for financial institutions and the divergent interpretations (from the financial sector, international organizations, and NGOs) it has so far received regarding its implementation in practice.
The International Sale of Goods 5e
Authors: Bridge Michael 
Published: June 2024

Abstract
The fifth edition of this book continues to provide comprehensive analysis of the law and practice of sale of goods under English and international law. The dual coverage of contracts under English law and the UN Convention on the International Sale of Goods (CISG) is of great value to those interested in all types of sale of goods contracts, including the sale of commodities. The detailed commentary provides analysis on decided cases as well as on standard form contracts that represent evolving trade practice. This edition offers updated and essential analysis of the rapidly evolving law related to the CISG, including an assessment of how specific issues — such as no oral modification clauses — might be addressed under the Convention. In addition, it provides expanded coverage of standard form contracts beyond the dry trades, including developments in electronic documentation and further treatment of notices of appropriation and force majeure. Further, there is a discussion of Incoterms 2020, and an expanded and updated treatment of contractual estoppel, good faith and contractual discretion, contractual termination and damages. The law is explored in the context of commercial practice making the book an ideal reference source for practitioners, scholars, and postgraduate students.
The Performance Obligations of Seller and Buyer in English Law
Authors: Bridge Michael 
Published: June 2024

Abstract
This chapter deals with the performance obligations of the seller in a sale transaction governed by English law, principally the seller’s obligations to deliver goods that are of satisfactory quality, are fit for the buyer’s purpose, and meet the contractual description. Conditions and innominate terms are discussed. As is shown, the seller’s obligations are not subject to legislative controls on their exclusion if a contract is one of international sale. The chapter is concerned also with the interpretation of the contract, a matter of particular importance in providing contractual certainty when standard form contracts are used throughout trades in oil, grain, and other commodities. It explores issues relating to good faith, contractual discretion, and estoppel, and provides a background understanding of the doctrine of privity of contract.
Remedies for Breach of Contract
Authors: Bridge Michael 
Published: June 2024

Abstract
This chapter deals with remedies for breach of contract. It starts with a treatment of the fundamental breach rule and then deals with the making of time of the essence. There is a discussion of anticipatory repudiation and of contractual suspension, alongside the giving of adequate assurance of performance. Cure of non-conforming performance by the seller is discussed, set against the buyer’s right to demand performance of the contract. The loss of the right of avoidance (termination) is considered, so too are the restitutionary consequence of avoidance. Damages and price reduction are discussed, together with the award of interest for delayed payment and for repayment. Finally, there is a discussion of exemption of liability because of supervening circumstances as well as because of the other party’s prior non-performance.
The History of the Negotiations
Authors: Brand Ronald A , Coffee Michael S , Herrup Paul 
Published: June 2024

Abstract
This chapter focuses on the history of the negotiation in correlation with the Hague Conference. It explains that the 2019 Judgments Convention is the second instrument resulting from a request submitted to the Hague Conference. In response to the concerns about the 2001 Interim Text, Commission I of the Nineteenth Session of the Hague Conference established an informal Working Group to consider a convention based on the jurisdictional provisions on which broad agreement existed. The June 2001 Interim Text continued to read more like a double convention than the mixed convention the Special Commission had decided to prepare. Meanwhile, the Council on General Affairs and Policy of the Hague Conference established an Experts’ Group to consider the resumption of the Judgments Project in 2011.
Islamic Contract Law
Authors: Bantekas Ilias , Ercanbrack Jonathan G , Oseni Umar A , Ullah Ikram 
Published: June 2024

Abstract
This book is the first comprehensive treatment of Islamic contract law in the English language, and it serves as both a reference work and an authoritative statement of the law and the Fiqh underlying it. The book’s structure draws from the tradition of Western contract law books to enable non-expert readers to easily navigate its structure, sources, and application. It covers the complete spectrum of Islamic contract regulation, and includes chapters on the formation of contracts, the sources of Islamic contract law, the role of intention, legal capacity, the importance of the subject matter, as well as the prohibited elements of contracts. Further chapters discuss validity and defects, contractual terms, bilateral agreements, equity-based partnership contracts, ancillary and unilateral contracts, termination and damages, and the role of third parties. Finally, a chapter is devoted to the application of Islamic law in contemporary Muslim-majority legal systems.
General Principles and Sources of Islamic Contract Law
Authors: Oseni Umar A 
Published: June 2024

Abstract
This chapter introduces the general principles and sources of Islamic contract law. It also looks into the general theory of contract and the dichotomy between form and substance, which has triggered the unending debate surrounding the spirit of a transaction based on Islamic law. The trade relationships between the Muslim world and Western countries are underpinned by contractual agreements. Additionally, the consideration of the theory of contract is relevant in the modern structuring of Islamic financial or halal products. The chapter highlights the significance of classical principles of Islamic contract law and their modern relevance in structuring English-styled legal documentation. It also looks into the essential elements of a valid contract.
Contracts and Third Parties
Authors: Oseni Umar A 
Published: June 2024

Abstract
This chapter cites the implications of third parties in some circumstances of contractual rights and obligations. Due to third party reliance and its influence on the original bilateral contract, the principle of privity of contract and its exceptions within Islamic commercial law transcends parties who are directly related to the rights, duties, and obligations under the contract. Moreover, Islamic law provides rules applicable to tripartite contracts or contracts that confer rights or duties on third parties. The chapter explains the Islamic jurisprudence under hawala (contract of debt assignment), wakāla (agency contract), and kafāla (deed of guarantee). It also examines how bilateral contracts could have legal implications on the rights or obligations of third parties on the other.
Directors’ Duties
Authors: Drake David 
Published: June 2024

Abstract
This chapter reviews the general duties imposed upon directors that spring from their functional and normative role in conducting the company’s affairs and affecting its legal relations. It looks at the corporate law and the constitution of the company that provides directors with powers to make decisions on behalf of the company and to act in the company’s name. It also notes that the statutory general duties are specified to be owed by the director of a company to the company. The chapter discusses the breaches of the directors’ duties that are not uncommon grounds for personal claims, such as those brought by a shareholder on their own behalf or derivative claims brought by a shareholder on behalf of the company. It analyses the problem brought by the application of the directors’ duties to shadow directors at common law and in equity.
Derivative Claims
Authors: Lightman Daniel 
Published: June 2024

Abstract
This chapter concerns the practice and procedure of derivative claims, both at common law and under the Companies Act 2006. It considers the control of litigation in the name of the company and then analyses the differences between common law and statutory derivative claims. It goes on to discuss the relevant statutory provisions, rules, principles and practice directions that apply to all stages of a derivative claim, including pre-action conduct, the form of (and parties to) a derivative claim, the commencement of proceedings, the two stages of the application for permission to continue a derivative claim, the role of the company at the permission stage (and subsequently), costs indemnity orders, conditional fees, and procedure generally. This chapter also explores the relationship between a personal claim and a derivative claim, the use of section 996(2)(c) of the Companies Act 2006 to bring a derivative claim, how much and in what circumstances the statutory derivative claim is likely to be used, and whether derivative claims can be brought where the company is in receivership or liquidation. Finally, it addresses derivative claims in respect of foreign companies and multiple derivative claims.
Personal Claims
Authors: Drake David , Richardson Giles , Bryan Zahler 
Published: June 2024

Abstract
This chapter is concerned with personal claims that vindicate rights vested in members. It cites the enforcement of rights conferred on a member by the statutory contract constituted by the company’s articles of association as an example of personal claims. It also deals with the constraints imposed on personal claims by the reflective loss rule, which prevents a member from recovering compensation for a loss in respect of which the company itself has a cause of action. The chapter covers the statutory contract formed by the company’s articles of association, objections to alterations to the articles, and enforcement of directors’ duties. It discusses ultra vires transactions and shareholders’ agreements, which give rise to personal rights capable of enforcement.
Companies Act 2006, Section 994 Petitions: Procedure
Authors: Lightman Daniel , Elias Thomas 
Published: June 2024

Abstract
This chapter concerns the practice and procedure of bringing and defending section 994 petitions. It discusses the relevant rules, principles and practice directions that apply to all stages of an unfair prejudice petition, including the letter before action, the form of a 994 petition, case management, disclosure, trial, order following trial, and appeal. It also discusses strategic matters such as applications to amend, applications for interim relief, and applications to strike out or for summary judgment. This chapter also explores issues commonly encountered in 994 proceedings, such as the effect of delay, the funding of proceedings, and the importance of offers by a respondent to purchase a petitioner’s shares.
Just and Equitable Winding Up
Authors: Richardson Giles , Bryan Zahler 
Published: June 2024

Abstract
This chapter examines petitions for the winding up of a company on the grounds that it is just and equitable to do so under s 122(1)(g) of the Insolvency Act 1986 (IA 1986). It explains that IA 1986 stipulates that a company may be wound up if the court is of the opinion that it is just and equitable to do so. It also specifies the classes of persons who are entitled to present a winding-up petition according to IA 1986, noting that the term ‘contributory or contributories’ is used rather than ‘member or members’. The chapter discusses the holder of partly paid shares, who is liable to contribute to the assets of the company in the case of a winding up. It reviews the existence of sufficient interest if the petitioner can demonstrate that there will remain a monetary surplus for distribution amongst the company’s members.
Foreign Aspects
Authors: Elias Thomas 
Published: June 2024

Abstract
This chapter addresses the availability of relief where the company is not incorporated in England or Wales. It examines the principal problems which can arise where some of the parties are located outside the jurisdiction. It also discusses Part V of the Insolvency Act 1986 that governs the winding up of ‘unregistered companies’, which are any association or company in the UK that is not registered under the Companies Act 2006.
The Singapore International Arbitration Act
Authors: Goh Nelson , Lim Jonathan , Tan Paul 
Published: June 2024

Abstract
Over the past couple of decades, Singapore has successfully established itself as one of the major centres for international dispute resolution. The Singapore International Arbitration Act (SIAA), originally enacted in 1994 to give effect to the Model Law on International Commercial Arbitration, has been revised and amended four times over its lifetime, further strengthening Singapore's position as a hub for international arbitration. Following the latest amendments in 2020, this book presents an in-depth, section-by-section commentary of the SIAA, written with a strong coverage of the significant corpus of Singapore arbitration jurisprudence that has been developed by the Singapore Courts over the last decade or so. It provides up-to-date analysis of each section of the Act and relevant provisions of the UNCITRAL Model Law. While Singapore case law and the approach taken by the Singapore Courts is the main focus, the book also adopts a comparative and international lens on critical issues where the law remains in a state of progressive development. The book will be an indispensable resource for practitioners, students, and academics on the law and practice of arbitration in Singapore and other Model Law jurisdictions.
Arbitrability
Authors: Tan Paul , Goh Nelson , Lim Jonathan 
Published: June 2024

Abstract
This chapter discusses the concept of arbitrability and examines Section 11 of the IAA. Section 11 defines arbitrable disputes broadly, by stating that matters are presumed to be arbitrable unless they are “contrary to public policy”. The chapter discusses the test for determining whether a dispute is arbitrable, as well as the applicable choice of law rules for arbitrability. The chapter also discusses the types of disputes which the courts have found or are likely to find non-arbitrable, with a focus on two specific categories of disputes which have given rise to disputes on arbitrability: disputes involving an insolvent company, and claims involving Section 216 of the Companies Act. The chapter also discusses the relevant considerations in a situation whereby an arbitral tribunal is unable to award the relief sought.
Awards and Interest on Awards
Authors: Tan Paul , Goh Nelson , Lim Jonathan 
Published: June 2024

Abstract
This chapter examines Sections 18, 19, 19A, 19B, 19C, and 20 of the IAA, as well as Article 30 of the Model Law. Section 18 of the IAA and Article 30 of the Model Law provide a mechanism through which parties may record their settlement of their dispute in the form of a consent award. Section 19 of the IAA provides for the enforcement of awards rendered in an international arbitration seated in Singapore. Sections 19A and 19B of the IAA together provide that, once issued, an award — whether an interim, partial, or final award — is final and conclusive as to the merits of the issue or claim determined under that award. The chapter discusses the provision in Section 19A that clarifies that a tribunal may make more than one award at different points in time, each of which is final and binding; and the provisions in Section 19B which address the consequences of classifying a decision of an arbitral tribunal as an “award”. Section 19C of the IAA empowers the Minister for Law to appoint any person holding office in an arbitral institution or other organisation to authenticate any award or arbitration agreement or to certify copies thereof for the purposes of the enforcement of an award in a country which is a Contracting State to the New York Convention. Finally, the chapter concludes with a discussion of an arbitral tribunal’s power to award interest under Section 20 of the IAA.
Assessment of Costs and Proceedings Otherwise Than in Open Court
Authors: Tan Paul , Goh Nelson , Lim Jonathan 
Published: June 2024

Abstract
This chapter discusses the assessment of costs by an arbitral tribunal, as well as the confidentiality of court proceedings relating to arbitration, with reference to Sections 21, 22, and 23 of the IAA. Section 21 of the IAA addresses the assessment of costs and provides that an award for costs would be taxable by the Registrar of the Singapore International Arbitration Centre unless the award otherwise directs. Section 22 of the IAA provides that proceedings under the IAA are to be heard in private although a court, on its own motion, or the application by a person (including a non-party), could order proceedings to be heard in open court. Section 23 provides that, to the extent that a hearing is heard in camera, the court may give directions as to whether, and if so what, information relating to the proceedings may be published.
Recognition and Enforcement of Foreign Awards
Authors: Tan Paul , Goh Nelson , Lim Jonathan 
Published: June 2024

Abstract
This chapter explores the recognition and enforcement of foreign awards, with a focus on the provisions in Part III of the IAA. The chapter begins with a discussion of Sections 27 and 28 of the IAA, which sets out the scope and interpretation of Part III of the IAA. It then discusses Sections 29 and 30, which set out the procedure for enforcement of foreign awards. The chapter then examines Section 31, which sets out the grounds for refusing enforcement of a foreign award under Part III of the IAA. It discusses in detail the following provisions: Section 31(2)(f), which provides that Singapore courts may refuse the enforcement of a foreign award if the award has not yet become binding, was set aside, or suspended; Section 31(3), which provides for the partial non-recognition of a foreign award; and Section 31(5), which provides that a Singapore court may adjourn an application to enforce a foreign award, if it is satisfied that an application for the setting aside or suspension of the award has been made in the seat of arbitration. The chapter concludes with a discussion of Section 33, which provides for the enforcement of awards under other provisions of law.