International Co-operation in Cross-Border Insolvency: HIH Insurance

The House of Lords decision in HIH Insurance raised important questions about the pari passu principle of distribution in cross-border insolvency. This comment examines the case in light of academic debate, arguing that Lord Hoffmann's application of the principle of (modified) universalism achieved distributive justice amongst HIH group creditors.     

Subjective Invulnerability,Optimism Bias and Adjustment in Emerging Adulthood

The relationship between subjective invulnerability and optimism bias in risk appraisal, and their comparative association with indices of risk activity, substance use and college adjustment problems was assessed in a sample of 350 (M _age = 20.17; 73% female; 93% White/European American) emerging adults. Subjective invulnerability was measured with the newly devised adolescent invulnerability scale (AIS). Optimism bias in decision-making was assessed with a standard comparative-conditional risk appraisal task. Results showed that the danger- and psychological invulnerability subscales of the AIS demonstrated strong internal consistency and evidence of predictive validity. Subjective invulnerability and optimism bias were also shown to be empirically distinct constructs with differential ability to predict risk and adjustment. Danger invulnerability and psychological invulnerability were more pervasively associated with risk behavior than was optimism bias; and psychological invulnerability counter-indicated depression, self-esteem and interpersonal problems. Results support recent claims regarding the “two faces” of adolescent invulnerability. Implications for future research are drawn.     

Overview of: “Crime Place and Pollution: Expanding Crime Reduction Options Through a Regulatory Approach”

Research Summary Crime reduction policy has focused almost exclusively on offenders. Recent studies and evaluations show that expanding our policy portfolio to include places may be highly productive. We show that there is considerable research showing that crime is concentrated at a relatively few locations, that high-crime places are stable, that changing places can reduce crime, that displacement is not only far from inevitable but also less likely than the diffusion of crime prevention benefits, and that owners of high-crime places can be held accountable for the criminogenic conditions of their locations. We link these findings to environmental policy, where environmental scientists, economists, and regulators have developed a broad set of regulatory options. The core of this article describes a portfolio of environmental policy instruments directly applicable to crime places. We also discuss major decisions local governments will need to make to implement various forms of regulation, and we list challenges that governments must anticipate in planning for such implementation. We argue that a regulatory approach to crime places has the potential to lower the cost to taxpayers of reducing crime by shifting costs from governments to the relatively few place owners whose actions create crime-facilitating conditions. Policy Implications Taking a regulatory approach to crime places substantially expands the crime policy options under consideration. Regulatory options may increase local governments’ effectiveness at reducing crime while reducing governments’ costs. This is because regulatory approaches have the potential to shift some portion of the financial burden for crime fighting to owners of criminogenic locations. Policy makers can select between means-based anticrime regulations that focus on how place owners manage their locations and ends-based regulations that focus on the number of crimes allowed at places. Both of these approaches contain several alternative regulatory instruments, each with its own set of advantages and disadvantages. Experimenting with various regulatory instruments could lead to the development of a range of new crime reduction policies. In addition, a regulatory approach has implications for the funding of policy research. Means-based regulatory instruments require governments to develop evidence that the means they regulate have the desired impact on crime. Ends-based regulatory instruments shift this burden to the regulated places.     

Methodological debate in poverty studies: towards ‘participatory qual–quant’?

Compared with the divisive views of the past, integrative thinking has recently come to characterise the methodological debate on poverty. ‘Qualitative vs quantitative’ has given way to ‘qual–quant’; ‘cross-disciplinarity’ has replaced ‘economics vs anthropology’. This article attempts to review this change. It begins with a historical overview of the pure economic approach to poverty and its critique. The critique, both from within economics and from the participatory and anthropological disciplines, is examined, and recent trends are considered. The current ‘qual–quant’ approach is illustrated with examples, and the author concludes that the future may well see the emergence of a ‘participatory qual–quant’ approach.     

Simplicity and Spook: Terrorism and the Dynamics of Threat Exaggeration

It has been common, at least since 1945, to exaggerate and to overreact to foreign threats, something that seems to be continuing with current concerns over international terrorism. This paper sketches threat exaggeration during the Cold War and applies the experience from that era to the current one. Alarmism and overreaction can be harmful, particularly economically. And, in the case of terrorism, it can help create the damaging consequences the terrorists seek but are unable to perpetrate on their own. Moreover, many of the forms alarmism has taken verge on hysteria. The United States is hardly "vulnerable" in the sense that it can be toppled by dramatic acts of terrorist destruction, even extreme ones. The country can, however grimly, readily absorb that kind of damage, and it has outlasted considerably more potent threats in the past.     

Use of subpopulation data in Australian forensic DNA casework

DNA profiling evidence presented in court should be accompanied by a reliable estimate of its evidential weight. In calculating such statistics, allele frequencies from commonly employed autosomal microsatellite loci are required. These allele frequencies should be collected at a level that appropriately represents the genetic diversity that exists in the population. Typically this occurs at broadly defined bio-geographic categories, such as Caucasian or Asian. Datasets are commonly administered at the jurisdictional level. This paper focuses on Australian jurisdictions and assesses whether this current practice is appropriate for Aboriginal Australian and Caucasian populations alike. In keeping with other studies we observe negligible differences between Caucasian populations within Australia when segregated geographically. However segregation of Aboriginal Australian population data along contemporary State and Territory lines appears to mask the diversity that exists within this subpopulation. For this reason datasets collated along more traditional lines may be more appropriate, particularly to distinguish the most genetically differentiated populations residing in the north of the continent.     

Exceeding powers of appointment: Re the Toland Trust, the Pennywise Trust and the Sequential Trust [2005] JRC 142

The general intention of the Toland Trust, a discretionary settlementgoverned by the law of Jersey, was expressed in a letter ofwishes that the immediate family of the settlor should benefit.A general power of appointment was given to the trustees. Considerable capital gains     

The golden age

Somewhere in history, there was a golden age of trusts. Whenthat was, is difficult to say. Perhaps it was when Lord Nottingham,in the 17th century, brought order to Chancery cases and, bymaking equity a proper body of legal precedent, overcame theopinions then that Chancery decisions varied according to thelength of the Chancellor's foot. These principles still givethe English type of trust its particular details and characteristics.Or perhaps the idea of a golden age is a myth; as with mostgolden ages, nostalgia is