The Portuguese Cortes during the reign of Ferdinand I (1367–83): the context of the Hundred Years War (1337–1453)

This article focuses on the study of the Cortes that convened during the reign of King Ferdinand I (1367–83), which took place in the context of the wars experienced in Europe, in the Iberian peninsula and in Portugal. First, it is shown how the Hundred Years War impacted on the Iberian peninsula from the moment when Henry of Trastámara, with the support of France, opposed the rule of his half-brother, Peter of Castile. At the same time, the Portuguese King Ferdinand I presented himself as a candidate to the Castilian throne, with the support of England. The three Fernandine Wars that took place in 1369–71, 1372–73 and 1381–82 are then briefly described. Next, this article examines the eight Cortes that met during the reign of Ferdinand I, showing how they were all summoned because of the war. Finally, this article analyses the appeals made by the municipalities in the Cortes of Lisbon of 1371, the Cortes of Oporto of 1372 and the Cortes of Leiria of 1372, with special attention given to the many military, economic, social, administrative and fiscal appeals and requests arising from the ills of war. Hence, it is concluded that the Cortes were unable to solve many of these problems, even though they contributed to restraining certain abuses. They were mostly an opportunity for dialogue between the king and the commoners, as well as a mitigating factor of greater tension and social conflict in this internal and external state of war. Within the context of war, the strength of the Cortes as a representative institution was reinforced, as well as the power and representativeness of the procurators of the commoners within the Cortes.     

Lessons from Mexico's economic and social transition

During the past three decades, Mexico has undergone major political, economic, and social changes sparked by regional developments and, particularly, globalisation. Its experiences provide valuable lessons for other countries.     

Reorganization in US and European Bankruptcy law

European countries have amended their bankruptcy statutes in the past decades to increase the likelihood of a company’s continuation in bankruptcy. Liquidation procedures are ill suited to realize the full value of the company as a going concern. An infusion of new finance raises company valuation and makes continuation through reorganization more likely. Reorganization preserves value, if general creditors as the main beneficiaries of reorganization play a crucial role in reorganization proceedings. Legal origins of national bankruptcy legislations are less important in explaining the incidence of reorganization than national attitudes towards failure and the prevalence of equity over debt finance. JEL Classification K12