Capital markets provide funds for projects abroad; such markets are now used to fund infrastructure and energy projects in emerging nations
Article Abstract:
Private capital has provided a new means for funding infrastructure projects as privatization internationally has meant new demands for private capital as financing for infrastructure projects, a situation during the late 1980s and the first half of the 1990s. Stocks, bonds and other liquid securities make up these capital markets and have become the source of much corporate and state financing. That this market does not demand covenants from its borrowers and its liquidity are other advantages. The legal work involved in project financing is much like setting up a new company.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
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States go to war over unclaimed funds
Article Abstract:
Delaware v. New York, currently pending in the Supreme Court, concerns abandoned- or unclaimed-property law, known as 'escheatment' in common law terms. At issue is which state has the right to income distributions from securities issuers when these remain unclaimed or the identity of the true owner cannot be determined. The state of the creditor's last known address and that of the debtor's incorporation are examples of polities allowed to retain unclaimed property under prior judge-made law. Most states have intervened as plaintiffs in the Delaware case.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1992
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Pension funds say big battles loom for mutual benefit
Article Abstract:
A plan to pay back policyholders of the bankrupt Mutual Benefit Life Insurance Co has led to a fight between the insurance industry and the Assn of Mutual Benefit Life Insurance Contractholders, representative of aggrieved pension funds in the suit. If successful, the association could double the price tag of the insurance industry bailout. The agreement would freeze policyholders' money for seven years while the company tries to recoup its fortunes.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1992
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