The CLS Blue Sky Blog– Corporate compliance — the internal processes that firms use to ensure that their employees do not violate applicable laws and regulations — has become big business. Regulation of business continues to grow, punctuated by landmark laws that have re-shaped the financial services (the Dodd-Frank Act) and health care (the Affordable Care Act) industries in the United States. Further, federal regulators have…
Stephen Park
PROMESA and Puerto Rico’s Pathways to Solvency
Harvard Law School Forum on Corporate Governance and Financial Regulation – Facing a self-declared “death spiral” of public debt, the Governor of Puerto Rico announced a debt moratorium earlier this year, halting payments to bondholders. A series of missed payments followed, including a landmark default on constitutionally guaranteed bonds in July. At the same time, Congress passed the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA or “promise” in Spanish), which combines a debt restructuring system with federal controls over the island’s finances. But enacting PROMESA is only a first step. Coordination and engagement with creditors is the next step—and an even more complicated one—in Puerto Rico’s long journey towards solvency and fiscal stability.
Business Law Professors Honored for Research
Two UConn business law professors received prestigious research awards over the summer.
Professors Stephen Park and Robert Bird received the Hoeber Memorial Award for Excellence in Research for their article, “The Domains of Corporate Counsel in an Era of Compliance.” The Hoeber award, given in memory of prominent business law professor Ralph C. Hoeber, is awarded by the editors of the American Business Law Journal to recognize excellent research. Continue Reading
Shaping an Emerging Global Agenda
Professor Park, Colleagues Awarded UConn Academic-Plan Grant to Help Further the Study, Practice of Human Rights in Business
Business law professor Stephen Park and UConn colleagues have been awarded a $265,000 research grant under UConn’s Academic Plan to investigate ways to protect and promote human rights in the business world.Continue Reading