Stephen Park

Even the Good News Is Bad for Ukraine’s President Zelenskiy

Bloomberg Businessweek – Ukraine President Volodymyr Zelenskiy is battling Russian-backed rebels in the east. He’s trying to zigzag around Donald Trump’s impeachment drama. Even what should pass for good news, the country’s flourishing economy, has a catch: The stronger Ukraine’s economic growth, the more an obscure debt derivative could punch a hole in its finances.

Hurting the Planet is not Only Bad for Humanity, It Can Be Bad for Business

UConn Today – When it comes to climate change, one segment of society wants to do good and do well: investors. Be environmentally kind, yes; but build wealth, too. In short, hurting the planet is not only bad for humanity, it can be bad for business. All of which brings pressure to bear on companies that are polluters. How will this shake out? We ask Stephen Park, an associate professor of business law and the Satell Fellow in Corporate Social Responsibility at the School of Business.Continue Reading

Investors Won’t Tolerate Corporate Misdeeds, Inhumanity

Amy Domini, the keynote speaker for the Business & Human Rights Initative Symposium, speaks with former U.S. Senator Christopher Dodd.
Amy Domini, the keynote speaker for the Business & Human Rights Initative Symposium, speaks with former U.S. Senator Christopher Dodd.

Investment titan Amy Domini, widely considered a leading pioneer in socially responsible investing, came to UConn and shared what can only be described as good news.Continue Reading

Professor Stephen Park Named Satell CSR Fellow

Stephen Park (UConn School of Business)

Solutions to Climate Change, Poverty, Other Social Challenges Require Collective Effort, New Approaches

Business Law Professor Stephen Park has been named to the newly created position of Satell Fellow in Corporate Social Responsibility.

“The School of Business is deeply invested in the development of corporate social responsibility guidelines and shares the belief that this work is of utmost importance,” said Dean John A. Elliott. Continue Reading

Protecting the Vulnerable

India Gravel Quarries (U.Roberto (Robin) Romano Papers, Archives & Special Collections, University of Connecticut Library)

UConn Human Rights Conference Gathers Experts to Address Ways to Watch Over Garment Workers

The new shirt that you are wearing is impeccably tailored and bears a prominent designer label, so it must be responsibly sourced.

Right? Continue Reading

Puerto Rico’s Debt Dilemma and Pathways Toward Sovereign Solvency

American Business Law Journal, Vol. 54, No. 1, 2017

Stephen Park

Puerto Rico, as a quasi-sovereign U.S. territory, is confronting a debt crisis of unparalleled legal complexity. This article analyzes the collective action problems in sovereign debt finance in the context of Puerto Rico’s quasi-sovereign debt dilemma. We examine how sovereign debtors engage with their private creditors in the absence of a formal bankruptcy regime and show how various legal incentives, imperatives, and constraints shape the degree and form of creditor engagement. Drawing on this conceptual framework, this article analyzes the role of these factors in the market-based debt restructuring by the Puerto Rico Electric Power Authority (PREPA) and hypothesizes how these factors may influence the statutory restructuring process underway under the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). Despite the idiosyncratic aspects of Puerto Rico’s debt crisis, the potential pathways for debtor-creditor cooperation in Puerto Rico provide valuable insights on the various ways that law influences debtor-creditor cooperation in sovereign debt finance beyond the enforcement of state-based public regulation and contract-based private legal commitments. Full article.