In establishing the Brussels International Business Court (BIBC), Belgium is following an international trend to attract international business disputes to English-speaking state courts. The BIBC will be an autonomous business court with the competence to settle, in English, disputes between companies throughout Belgium. This article focuses on the BIBC’s constitutionality, composition, competence, proceedings and funding, providing a brief analysis and critical assessment of each of these points. At the time of writing, the Belgian Federal Parliament has not yet definitively passed the Bill establishing the BIBC, meaning that amendments are still possible. |
Search result: 24 articles
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Journal | Erasmus Law Review, Issue 1 2019 |
Keywords | international jurisdiction, English, court language, Belgium, business court |
Authors | Erik Peetermans and Philippe Lambrecht |
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Journal | Erasmus Law Review, Issue 1 2019 |
Keywords | international commercial court, Singapore, dispute resolution, litigation |
Authors | Man Yip |
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The Singapore International Commercial Court (‘SICC’) was launched on 5 January 2015, at the Opening of Legal Year held at the Singapore Supreme Court. What prompted the creation of SICC? How is the SICC model of litigation different from litigation in the Singapore High Court? What is the SICC’s track record and what does it tell us about its future? This article seeks to answer these questions at greater depth than existing literature. Importantly, it examines these questions from the angle of reimagining access of justice for litigants embroiled in international commercial disputes. It argues that the SICC’s enduring contribution to improving access to justice is that it helps to change our frame of reference for international commercial litigation. Hybridisation, internationalisation, and party autonomy, the underpinning values of the SICC, are likely to be the values of the future of dispute resolution. International commercial dispute resolution frameworks – typically litigation frameworks – that unduly emphasise national boundaries and formalities need not and should not be the norm. Crucially, the SICC co-opts a refreshing public-private perspective to the resolution of international commercial disputes. It illuminates on the public interest element of the resolution of such disputes which have for some time fallen into the domain of international commercial arbitration; at the same time, it introduces greater scope for self-determination in international commercial litigation. |
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Journal | Erasmus Law Review, Issue 3 2018 |
Keywords | technology, socio-technological change, money, windmill, data |
Authors | Marta Katarzyna Kołacz and Alberto Quintavalla |
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This article discusses how the law has approached disparate socio-technological innovations over the centuries. Precisely, the primary concern of this paper is to investigate the timing of regulatory intervention. To do so, the article makes a selection of particular innovations connected with money, windmills and data storage devices, and analyses them from a historical perspective. The individual insights from the selected innovations should yield a more systematic view on regulation and technological innovations. The result is that technological changes may be less momentous, from a regulatory standpoint, than social changes. |
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Journal | Erasmus Law Review, Issue 2 2018 |
Keywords | empirical legal research, Europe, popularity, increase, journals |
Authors | Gijs van Dijck, Shahar Sverdlov and Gabriela Buck |
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Empirical Legal research (ELR) has become well established in the United States, whereas its popularity in Europe is debatable. This article explores the popularity of ELR in Europe. The authors carried out an empirical analysis of 78 European-based law journals, encompassing issues from 2008-2017. The findings demonstrate that a supposed increase of ELR is questionable (at best). |
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Journal | Erasmus Law Review, Issue 2 2018 |
Keywords | evidence-based, regulation, proportionality, empirical law studies, law and society studies |
Authors | Rob van Gestel and Peter van Lochem |
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Studies have shown that the effects of scientific research on law and policy making are often fairly limited. Different reasons can be given for this: scientists are better at falsifying hypothesis than at predicting the future, the outcomes of academic research and empirical evidence can be inconclusive or even contradictory, the timing of the legislative cycle and the production of research show mismatches, there can be clashes between the political rationality and the economic or scientific rationality in the law making process et cetera. There is one ‘wicked’ methodological problem, though, that affects all regulatory policy making, namely: the ‘jump’ from empirical facts (e.g. there are too few organ donors in the Netherlands and the voluntary registration system is not working) to normative recommendations of what the law should regulate (e.g. we need to change the default rule so that everybody in principle becomes an organ donor unless one opts out). We are interested in how this translation process takes place and whether it could make a difference if the empirical research on which legislative drafts are build is more quantitative type of research or more qualitative. That is why we have selected two cases in which either type of research played a role during the drafting phase. We use the lens of the proportionality principle in order to see how empirical data and scientific evidence are used by legislative drafters to justify normative choices in the design of new laws. |
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Journal | Erasmus Law Review, Issue 2 2017 |
Keywords | legitimacy, International Monetary Fund (IMF), Article IV Consultations, tax recommendations, global tax governance |
Authors | Sophia Murillo López |
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This contribution examines the legal legitimacy of ‘Article IV Consultations’ performed by the IMF as part of its responsibility for surveillance under Article IV of its Articles of Agreement. The analysis focuses on tax recommendations given by the Fund to its member countries in the context of Consultations. This paper determines that these tax recommendations derive from a broad interpretation of the powers and obligations that have been agreed to in the Fund’s Articles of Agreement. Such an interpretation leads to a legitimacy deficit, as member countries of the Fund have not given their state consent to receive recommendations as to which should be the tax policies it should adopt. |
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Journal | Erasmus Law Review, Issue 2 2017 |
Keywords | base erosion and profit shifting, OECD, G20, legitimacy, international tax reform |
Authors | Sissie Fung |
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The global financial crisis of 2008 and the following public uproar over offshore tax evasion and corporate aggressive tax planning scandals gave rise to unprecedented international cooperation on tax information exchange and coordination on corporate tax reforms. At the behest of the G20, the OECD developed a comprehensive package of ‘consensus-based’ policy reform measures aimed to curb base erosion and profit shifting (BEPS) by multinationals and to restore fairness and coherence to the international tax system. The legitimacy of the OECD/G20 BEPS Project, however, has been widely challenged. This paper explores the validity of the legitimacy concerns raised by the various stakeholders regarding the OECD/G20 BEPS Project. |
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Journal | Erasmus Law Review, Issue 2 2017 |
Keywords | Global Forum on Transparency and Exchange of Information, exercise of regulatory authority, due process requirements, peer review reports, legitimacy |
Authors | Leo E.C. Neve |
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The Global Forum on transparency and exchange of information for tax purposes has undertaken peer reviews on the implementation of the global standard of exchange of information on request, both from the perspective of formalities available and from the perspective of actual implementation. In the review reports Global Forum advises jurisdictions on required amendments of regulations and practices. With these advices, the Global Forum exercises regulatory authority. The article assesses the legitimacy of the exercise of such authority by the Global Forum and concludes that the exercise of such authority is not legitimate for the reason that the rule of law is abused by preventing jurisdictions to adhere to due process rules. |
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Journal | Erasmus Law Review, Issue 2 2017 |
Keywords | World Bank, legality, legitimacy, global tax governance, tax policy and tax administration reforms |
Authors | Uyanga Berkel-Dorlig |
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The emergence of global tax governance was triggered by common tax problems, which are now still being faced by international society of nation-states. In the creation of this framework, international institutions have been playing a major role. One of these institutions is the World Bank (Bank). However, those who write about the virtues and vices of the main creators of the framework usually disregard the Bank. This article, therefore, argues that this disregard is not justified because the Bank has also been playing a prominent role. Since two informal decisions taken in the past have contributed to this position of the Bank, the article gives in addition to it answers to the following two related questions: whether these informal decisions of the Bank were legal and if so, what implications, if any, they have for the Bank’s legitimacy. |
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Journal | Erasmus Law Review, Issue 3 2017 |
Keywords | access to justice, procedural law, courts, civil justice reform, comparative law |
Authors | Catherine Piché |
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Canada has a complex system of courts that seek to serve Canadians in view of the traditional objectives of civil justice – principally accessibility, efficiency, fairness, efficacy, proportionality and equality. The Canadian court system is generally considered by its users to work well and to have legitimacy. Yet, researchers have found that ‘there is a tendency for people involved in a civil case to become disillusioned about the ability of the system to effect a fair and timely resolution to a civil justice problem’. This article will discuss the ways in which reforms of procedural law and civil justice have originated and continue to be made throughout Canada, both nationally and provincially, as well as the trends and influences in making these reforms. With hundreds of contemporary procedural reforms having been discussed, proposed and/or completed since the first days of Canadian colonisation on a national basis and in the Canadian provinces and territory, providing a detailed analysis will prove challenging. This article will nonetheless provide a review of civil justice and procedural reform issues in Canada, focusing principally, at the provincial level, on the systems of Ontario and Quebec. Importantly, I will seek to reconcile the increasing willingness to have an economically efficient civil justice and the increased power of judges in managing cases, with our court system’s invasion of ADR and its prioritisation of informal modes of adjudication. |
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Journal | Erasmus Law Review, Issue 1 2017 |
Keywords | BEPS, value creation, tax structuring, international taxation |
Authors | Paul Lankhorst and Harmen van Dam |
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The international tax landscape is changing and it is changing fast. The political perception is that taxation of multinational enterprises is not aligned with the ‘economic activity’ that produces their profits (i.e. not aligned with ‘value creation’). The perception links ‘value creation’ with ‘employees and sales’. |
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Journal | Erasmus Law Review, Issue 1 2017 |
Keywords | Fairness, international tax, legitimacy, BEPS, developing countries |
Authors | Irene Burgers and Irma Mosquera |
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The aim of this article is to examine the differences in perception of ‘fairness’ between developing and developed countries, which influence developing countries’ willingness to embrace the Base Erosion and Profit Shifting (BEPS) proposals and to recommend as to how to overcome these differences. The article provides an introduction to the background of the OECD’s BEPS initiatives (Action Plan, Low Income Countries Report, Multilateral Framework, Inclusive Framework) and the concerns of developing countries about their ability to implement BEPS (Section 1); a non-exhaustive overview of the shortcomings of the BEPS Project and its Action Plan in respect of developing countries (Section 2); arguments on why developing countries might perceive fairness in relation to corporate income taxes differently from developed countries (Section 3); and recommendations for international organisations, governments and academic researchers on where fairness in respect of developing countries should be more properly addressed (Section 4). |
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Journal | Erasmus Law Review, Issue 4 2016 |
Keywords | Uncertainty, entrepreneurship, agency costs, loyalty shares, institutional investors |
Authors | Alessio M. Pacces |
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This article discusses hedge funds activism based on Hirschman’s classic. It is argued that hedge funds do not create the loyalty concerns underlying the usual short-termism critique of their activism, because the arbiters of such activism are typically indexed funds, which cannot choose short-term exit. Nevertheless, the voice activated by hedge funds can be excessive for a particular company. Furthermore, this article claims that the short-termism debate cannot shed light on the desirability of hedge funds activism. Neither theory nor empirical evidence can tell whether hedge funds activism leads to short-termism or long-termism. The real issue with activism is a conflict of entrepreneurship, namely a conflict between the opposing views of the activists and the incumbent management regarding in how long an individual company should be profitable. Leaving the choice between these views to institutional investors is not efficient for every company at every point in time. Consequently, this article argues that regulation should enable individual companies to choose whether to curb hedge funds activism depending on what is efficient for them. The recent European experience reveals that loyalty shares enable such choice, even in the midstream, operating as dual-class shares in disguise. However, loyalty shares can often be introduced without institutional investors’ consent. This outcome could be improved by allowing dual-class recapitalisations, instead of loyalty shares, but only with a majority of minority vote. This solution would screen for the companies for which temporarily curbing activism is efficient, and induce these companies to negotiate sunset clauses with institutional investors. |
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Journal | Erasmus Law Review, Issue 4 2015 |
Keywords | Israel, austerity, civil procedure, simplified procedures, small claims |
Authors | Ehud Brosh |
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Israel was spared the worst of the world financial crisis of 2008-2009. However, austerity concerns are by no means invisible in the developments in the field of civil procedure. These concerns correlate heavily with the long-standing Israeli preoccupation with ‘speeding up’ justice. An array of simplified procedural tracks, aimed at addressing the perceived inadequacy of ‘standard’ procedure, have been developed in Israel over the years. The importance of simplified procedures in the Israeli system cannot be overestimated. Their development illustrates the dialectical tension between the values of ‘efficiency’ and ‘quality’ in the administration of justice. During periods of austerity, the scales are easily (or easier) tipped in favour of efficiency and general or particular simplification of procedure. In times of prosperity, on the other hand, concerns over ‘quality’, access to justice, and truth discovery predominate, and attempts at promoting efficiency and/or simplification at their expense tend to be bogged down. Such attempts also tend to lose their extrinsic legitimacy and are widely viewed as ‘cutting corners’. This is evident in the recent Israeli experience with civil procedure reform. |
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Journal | Erasmus Law Review, Issue 4 2015 |
Keywords | Austerity, court fees and legal aid, adversarial and inquisitorial process, McKenzie Friends, simplified process |
Authors | John Sorabji |
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This article considers the effect of austerity-induced public spending cuts on the English civil justice system. In doing so it initially examines two fundamental changes engendered by the effect austerity has had on civil court fees and legal aid: first, a challenge to the traditional commitment in English procedure to adversarial process, and a concomitant increase in inquisitorial or investigative processes; and secondly, the growth in use of unqualified individuals to act as advocates in court for individual litigants who are unable to afford legal representation. It then turns to consider what, if any, effect austerity has had on simplified processes available in English civil procedure. |
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Journal | Erasmus Law Review, Issue 4 2015 |
Keywords | Canada, small and simple matters, austerity, civil justice, access to justice |
Authors | Jonathan Silver and Trevor C.W. Farrow |
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Canada is in the midst of an access to justice crisis. The rising costs and complexity of legal services in Canada have surpassed the need for these services. This article briefly explores some obstacles to civil justice as well as some of the court-based programmes and initiatives in place across Canada to address this growing access to justice gap. In particular, this article explains the Canadian civil justice system and canvasses the procedures and programmes in place to make the justice system more efficient and improve access to justice in small and simple matters. Although this article does look briefly at the impact of the global financial crisis on access to justice efforts in Canada, we do not provide empirical data of our own on this point. Further, we conclude that there is not enough existing data to draw correlations between austerity measures in response to the global crisis and the challenges facing Canadian civil justice. More evidence-based research would be helpful to understand current access to justice challenges and to make decisions on how best to move forward with meaningful innovation and policy reform. However, there is reason for optimism in Canada: innovative ideas and a national action plan provide reason to believe that the country can simplify, expedite, and increase access to civil justice in meaningful ways over the coming years. |
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Journal | Erasmus Law Review, Issue 4 2015 |
Keywords | austerity, small claims, civil justice, civil procedure, Ghana civil procedure |
Authors | Ernest Owusu-Dapaa and Ebenezer Adjei Bediako |
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The demand for and availability of civil justice procedures for small claims can neither be disentangled nor extricated from the health of the economic climate of the relevant country concerned. In this article, it is argued that despite not being a developed country, Ghana was not completely insulated from the hardships or implementation of austerity measures that were triggered by the global economic meltdown. The inevitability of behavioural changes on the part of the Government of Ghana as lawmaker and provider of the machinery for civil justice on the one hand and small claims litigants as users of the civil procedure on the other hand are also explored in the article. After properly situating the exploration in the relevant economic context, the article makes recommendations regarding how to minimise the impact of the austerity measures on small claims litigants. |
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Journal | Erasmus Law Review, Issue 3 2015 |
Authors | Terry Hutchinson |
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The doctrinal methodology is in a period of change and transition. Realising that the scope of the doctrinal method is too constricting, academic lawyers are becoming eclectic in their use of research method. In this transitional time, legal scholars are increasingly infusing evidence (and methods) from other disciplines into their reasoning to bolster their reform recommendations. |
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Journal | Erasmus Law Review, Issue 1 2014 |
Keywords | company tax harmonisation, EU law, Internal Market, taxation policies |
Authors | Anna Sting LL.M |
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Company tax integration in the EU is yet to be realised. This article first outlines the main benefits of company tax integration for the Economic and Monetary Union, and also discusses the main legal obstacles the EU Treaties pose for harmonisation of company tax. The main problem identified is the unanimity requirement in the legal basis of Article 115 TFEU. As this requirement is currently not feasible in the political climate of the debt crisis, this article assesses possible reasons for and ways to further fiscal integration. It considers Treaty change, enhanced cooperation, soft law approaches and also indirect harmonisation through the new system of economic governance. Eventually, a possible non-EU option is considered. However, this article recommends making use of the current EU law framework, such as soft law approaches and the system of the new economic governance to achieve a more subtle and less intrusive tax harmonisation, or instead a Treaty change that would legitimately enhance and further economic integration in the field of taxation. |
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Journal | Erasmus Law Review, Issue 1 2014 |
Keywords | tax planning, optimal taxation, tax competition, corporate taxation |
Authors | Hendrik Vrijburg Ph.D. |
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This article presents a literature review on the welfare effects of excessive company taxation practices. The article intends to structure the debate by sketching a conceptual framework of thought for the topic under consideration and places the existing literature within this framework. The article ends with a thought-provoking discussion between two extreme papers in the literature, one against tax planning and one in favour. The discussion is concluded by identifying the fundamental differences in assumptions underlying both approaches. |