Finance, Law, and the Courts

This book shows why courts are essential in the law of finance. The legal principles developed in courts’ case law provide finance with a firm legal basis and sufficient elasticity to evolve. This book, through an extensive and comparative analysis of case law in Europe and the United States, analyses how courts have shaped the main concepts and institutions in the law of finance. In public law, the book analyses the justiciability of disputes against public actors, or the role of discretion and mandates of monetary, regulatory, supervisory or crisis management authorities, as well as the rights of financial institutions, and the interpretation of regulatory concepts. In private law, the book analyses judicial creation of securities liability for misstatements, the role of financial contracts, and their enforceability, interpretation, and relationship with mandatory regulations, or the intricacies of property and insolvency issues in a financial context. The book also analyses critically the current state of the resolution of financial disputes in the EU, and suggests some avenues of reform.