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1 – 10 of 691Provides some background to new proposals in the UK to introducelegislation which would give existing long leaseholders ininterdependent properties the collective right to…
Abstract
Provides some background to new proposals in the UK to introduce legislation which would give existing long leaseholders in interdependent properties the collective right to purchase the freehold interest. Sets out to examine the management structure of commonhold properties, with particular emphasis on the dynamics of collective management, in three countries where it is well established: Australia, France and the USA.
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The Plaintiffs were depositors who had lost monies in the collapse of Bank of Credit and Commerce International (BCCI). BCCI itself was named as a Plaintiff since it was an…
Abstract
The Plaintiffs were depositors who had lost monies in the collapse of Bank of Credit and Commerce International (BCCI). BCCI itself was named as a Plaintiff since it was an assignee of the claims of Plaintiff depositors. The Plaintiffs made a very large number of allegations against the Bank of England (the Bank) with regard to its exercise of its powers and discretions under the statutory scheme of Banking Supervision contained in the Banking Acts of 1979 and 1987. These allegations related to, inter alia, the Bank's decision to grant a full licence to BCCI in 1980, its failure subsequently to revoke that licence and various other acts and omissions in its supervisory role up to BCCI's collapse in 1991.
The purpose of this paper is events and analysis of present a hedge fund collapse, offer lessons to investors and hedge fund industry stakeholders and propose a possible remedy…
Abstract
Purpose
The purpose of this paper is events and analysis of present a hedge fund collapse, offer lessons to investors and hedge fund industry stakeholders and propose a possible remedy for mitigating operational risks and associated potential losses.
Design/methodology/approach
This study focused on one hedge fund case study and conducted a thorough investigation of the events that led to the collapse and eventual filing of the Securities and Exchange Commission (SEC) complaint. All articles and publications used for this research are available in the public domain and accessible.
Findings
Wood River Capital Management had concentrated the portfolios of its two hedge funds into one stock, EndWave Corp. Fund Manager violated terms of offering memorandum. Investors were not made aware of and did not discover the operational risks. Stock price of EndWave plummeted. There was no independent oversight over the funds. The values of the two funds dropped significantly. Investors attempted to redeem but the funds were not liquid. The SEC filed a complaint. Mr Whittier was sentenced for three years in jail.
Research limitations/implications
It is an analysis of US-based hedge fund, not an empirical paper. The article presents critical analysis and offers many valuable lessons to hedge fund industry stakeholders.
Practical implications
This paper helps investors in terms of identifying a hedge fund’s operational risks and conducting more effective due diligence while vetting a hedge fund. This could potentially save investors and constituents billions of dollars, by avoiding potential hedge fund collapses. This paper suggests that the scope of fiduciary duty be expanded to cover hedge fund industry vendors.
Originality/value
Thorough research of a hedge fund that collapsed because of poor investment decisions, not self-enrichment at expense of fund investors. This paper provides lessons to investors in terms of identifying a hedge fund’s critical operational risks and conducting value preserving due diligence. This could potentially save hedge funds investors billions of dollars, by avoiding potential hedge fund collapses. This paper recommends that the scope of fiduciary duty be expanded to cover hedge fund industry vendors.
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Examines the French approach to residential commonhold management,the over‐regulation in commonhold management in France and the problemsthat this causes. Considers the…
Abstract
Examines the French approach to residential commonhold management, the over‐regulation in commonhold management in France and the problems that this causes. Considers the implications of the French system for the introduction of commonhold in the UK. Concludes that UK commonhold management is likely to follow a less highly regulated path than France, having more in common with the legislation in Australia and the USA.
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Martina Flörke, Ellen Teichert and Ilona Bärlund
The aim of this study is to analyze future changes of freshwater needs in the electricity production sector and to identify hotspots where future cooling water needs may not be…
Abstract
Purpose
The aim of this study is to analyze future changes of freshwater needs in the electricity production sector and to identify hotspots where future cooling water needs may not be fulfilled.
Design/methodology/approach
To address the goals of this study, a scenario and simulation approach was selected to estimate water availability and water uses in Europe up to 2050. Two SCENES scenarios were selected to cover a wide range of water‐related driving forces including future developments in population, GDP, electricity production, technological and structural changes, as well as climate change.
Findings
Depending on the scenario, water withdrawals in the electricity production would increase by 68 percent or decrease by 33 percent between 2000 and 2050. At the same time, water availability at low flow (Q90) would decrease because of climate change in southern and south‐eastern parts of Europe as well as in Ireland and the UK. Especially in these regions hotspots were identified where water is scarce and where growing water demand promotes water stress that may cause economic losses.
Originality/value
This paper presents hotspots of the thermal electricity production sector in Europe. In these regions water shortages were expected to lead to water stress due to climate change accompanied by increasing water demand for cooling purposes and by competing water use sectors.
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Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American…
Abstract
Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American preemptive invasion and occupation of Afghanistan and Iraq and the subsequent prisoner abuse, such an existence seems to be farther and farther away from reality. The purpose of this work is to stop this dangerous trend by promoting justice, love, and peace through a change of the paradigm that is inconsistent with justice, love, and peace. The strong paradigm that created the strong nation like the U.S. and the strong man like George W. Bush have been the culprit, rather than the contributor, of the above three universal ideals. Thus, rather than justice, love, and peace, the strong paradigm resulted in in justice, hatred, and violence. In order to remove these three and related evils, what the world needs in the beginning of the third millenium is the weak paradigm. Through the acceptance of the latter paradigm, the golden mean or middle paradigm can be formulated, which is a synergy of the weak and the strong paradigm. In order to understand properly the meaning of these paradigms, however, some digression appears necessary.
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Mereana Barrett, Krushil Watene and Patty McNicholas
This paper aims to set the scene for an emerging conversation on the Rights of Nature as articulated by a philosophy of law called Earth Jurisprudence, which privileges the whole…
Abstract
Purpose
This paper aims to set the scene for an emerging conversation on the Rights of Nature as articulated by a philosophy of law called Earth Jurisprudence, which privileges the whole Earth community over the profit-driven structures of the existing legal and economic systems.
Design/methodology/approach
The study used a wide range of thought from literature relating to philosophy, humanities, environmental economics, sustainable development, indigenous rights and legal theory to show how Earth Jurisprudence resonates with two recent treaties of Waitangi settlements in Aotearoa New Zealand that recognise the Rights of Nature.
Findings
Indigenous philosophies have become highly relevant to sustainable and equitable development. They have provided an increasingly prominent approach in advancing social, economic, environmental and cultural development around the world. In Aotearoa New Zealand, Maori philosophies ground the naming of the Te Urewera National Park and the Whanganui River as legal entities with rights.
Practical implications
Recognition of the Rights of Nature in Aotearoa New Zealand necessitates a radical re-thinking by accounting researchers, practitioners and educators towards a more ecocentric view of the environment, given the transformation of environmental law and our responsibilities towards sustainable development.
Originality/value
This relates to the application of Earth Jurisprudence legal theory as an alternative approach towards thinking about integrated reporting and sustainable development.
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Ksenia D. Shelest, Victor V. Ionov and Leonid Y. Tikhomirov
This paper aims to the environmental awareness raising as a key issue of education for sustainable development. Youth Environmental Volunteers Movement in the area of coastal oil…
Abstract
Purpose
This paper aims to the environmental awareness raising as a key issue of education for sustainable development. Youth Environmental Volunteers Movement in the area of coastal oil response operations in St. Petersburg is presented in this paper as a successful initiative in the field of environmental awareness through universities and city authorities’ cooperation.
Design/methodology/approach
The main approach is to explore ways of environmental awareness raising through the cooperation between universities and city authorities in practice. It is shown as a system of preparation by environmental volunteers for oil recovery operations in the coastal zone of the Baltic Sea. The use of a voluntary rescue movement as an organization for support state authorities is investigated.
Findings
The program for environmental volunteers' tuition was created due to mutual cooperation between universities and state authorities. The purpose is to give necessary knowledge to and skills required by experts and young people on how to run together rescue and oil spill response operations. Practical field trainings with simulated oil accidents were realized in situ on the coastal zone of the Gulf of Finland.
Social implications
Coastal oil recovery operations are the key responsibility of state authorities and professional organizations in all countries around the Baltic Sea. Active involvement of young people in public participation helps to solve environmental problems at local and regional levels.
Originality/value
The Environmental Committee, City of St. Petersburg together with universities, provided practical implementation of the Youth Environmental Volunteers Movement. It contributes to the improvement of the marine environment and gives a necessary experience for implementation of new initiatives in the field of sustainable education and environmental protection in the Baltic Sea region.
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