Employment preservation vs. creditors’ repayment under bankruptcy law: The French dilemma?

The paper investigates the French dilemma associated with court administered resolution of corporate financial distress. In such a legal system, the courts seek a double objective: maintaining job positions through continuation, and determining the best outcome for the claimants. We discuss this dilemma empirically, using a unique sample of bankruptcy files on French SMEs. We address successively three critical questions. First, we highlight the determinants of the final bankruptcy outcome (continuation through reorganization or sale, or piecemeal liquidation): does continuation (the most employment-friendly outcome) depend on the firm's characteristics, and/or on the way the procedure is managed? Second, we study the determinants of the creditors’ recovery rates: do the courts play an active role in increasing recoveries? Third, we address the dilemma directly by focusing on sales as a going concern. We model the court administered selection process between rival buyout offers: do the courts balance the social content against the financial content of each offer? Is there an explicit arbitrage between employment preservation and creditor recoveries? Our main results are: (1) the French courts actively work to facilitate continuation against liquidation, and thus play a role in employment preservation. Besides, we find continuation is more likely to prevail when default is an outcome of specific difficulties (outlets, finance, and production). (2) We confirm the Radulovic (2008) findings: the global recovery rate mainly depends on the firm's ex ante characteristics at the time of triggering, while the way the procedure is managed by the court has little impact. Similarly to LoPucki and Doherty (2007), continuation via reorganization does not generate lower recovery rates on average than the other outcomes. (3) Last, the courts’ choice between rival buyout offers confirms that social considerations prevail in the arbitration. Yet, the courts still consider financial issues as well (a higher sale price increases the chances that an offer is selected), but without clear connection with the amount of due claims (one direct consequence is a moderate recovery rate on sales).     

Scanning electron microscopy analysis of experimental bone hacking trauma of the mandible

The authors report on a macroscopic and microscopic study of human mandible bone lesions achieved by a single-blade knife and a hatchet. The aim of this work was to complete the previous data (scanning electron microscopy analysis of bone lesions made by a single-blade knife and a hatchet, on human femurs) and to compare the lesions of the femur with those of the mandible. The results indicate that the mandible is a more fragile bone, but the features observed on the mandible are quite similar to those previously observed on the femur. This work spells out the main scanning electron microscopy characteristics of sharp (bone cutting) and blunt (exerting a pressure on the bone) mechanisms on human bone. Weapon characteristics serve to explain all of these features.     

The introduction of forensic advisors in Belgium and their role in the criminal justice system

Forensic advisors (FA) at the National Institute for Criminalistics and Criminology (NICC), generalists in forensic science, act as an advising body to the magistrate to improve communication between the various parties involved in the investigation: magistrate, police and crime scene investigators, and forensic experts. Their role is manifold, but their main objectives are to optimise trace processing by selecting the most pertinent traces in the context of the case and by advising magistrates on the feasibility of forensic analyses in particular circumstances in regards to the latest technical advances.Despite the absence of a legal framework governing their role and involvement in judicial cases, the demand for their services has increased over the years. Initially, forensic advisors were called for complex homicide cases. Due to the proximity with the Public Prosecutor's Office, the types of offences for which their expertise was sought have become more diverse (mainly including robbery, burglary and sexual assault cases), leading to a diversity in the types of cases handled by the forensic advisors (complex, simple and review).In many of the cases they are requested for, in addition to consulting on the best analytical strategy, forensic advisors also assume the role of case coordinator regarding the seized objects and their respective analyses. Indeed, in the majority of cases treated by the FAs, two or more types of expertise have been requested and performed, either at the internal laboratories of NICC or at external laboratories.This paper explains the role of the forensic advisors in Belgium, the path that let to their current status and problems encountered.     

Les Etats de Basse-Navarre de 1784 à 1788 : entre particularisme provincial et intégration à la couronne de France

This is a study about the deliberations of the estates of Lower Navarre between 1784 and 1788. It belongs to the school of thought represented by the work of Marie-Laure Legay and Julian Swann, who argue that the provincial estates, far from being little more than medieval survivals crushed by the weight of the ancient regime, were in a position to provide the crown with valuable services. Integrated in the Kingdom of France since 1620, Basse-Navarre retained its fors, its public and private law, and above all its tax system. This article considers the daily activities of the estates by describing their organisation, operation and through a critical analysis of the register of debates. A second section analyses the subjects of the laws which were passed, both in quantitative and qualitative terms, followed by a discussion of the relations between the members of the estates and the representatives of the central authority.     

Sequential lineup presentation: Patterns and policy

Sequential lineups were offered as an alternative to the traditional simultaneous lineup. Sequential lineups reduce incorrect lineup selections; however, the accompanying loss of correct identifications has resulted in controversy regarding adoption of the technique. We discuss the procedure and research relevant to (1) the pattern of results found using sequential versus simultaneous lineups; (2) reasons (theory) for differences in witness responses; (3) two methodological issues; and (4) implications for policy decisions regarding the adoption of sequential lineups.     

Validation of Large White Pig as an animal model for the study of cannabinoids metabolism: application to the study of THC distribution in tissues

This study presents a new animal model, the Large White Pig, which was tested for studying cannabinoids metabolism. The first step has focused on determination of plasma kinetics after injection of Delta(9)-tetrahydrocannabinol (THC) at different dosages. Seven pigs received THC by intravenous injections (50, 100 or 200 microg/kg). Plasma samples were collected during 48 h. Determination of cannabinoids concentrations were performed by gas chromatography/mass spectrometry. Results showed that plasma kinetics were comparable to those reported in humans. Terminal half-life of elimination was 10.6 h and a volume of distribution of 32 l/kg was calculated. In a second step, this model was used to determine the kinetic profile of cannabinoids distribution in tissues. Eight Large White male pigs received an injection of THC (200 microg/kg). Two pigs were sacrificed 30 min after injection, two others after 2, 6 and 24 h. Different tissues were sampled: liver, kidney, heart, lung, spleen, muscle, fat, bile, blood, vitreous humor and several brain areas. The fastest THC elimination was noted in liver tissue, where it was completely eliminated in 6 h. THC concentrations decreased in brain tissue slower than in blood. The slowest THC elimination was observed for fat tissue, where the molecule was still present at significant concentrations 24 h later. After 30 min, THC concentration in different brain areas was highest in the cerebellum and lowest in the medulla oblongata. THC elimination kinetics noted in kidney, heart, spleen, muscle and lung were comparable with those observed in blood. 11-Hydroxy-THC was only found at high levels in liver. THC-COOH was less than 5 ng/g in most tissues, except in bile, where it increased for 24 h following THC injection. This study confirms, even after a unique administration, the prolonged retention of THC in brain and particularly in fat, which could be at the origin of different phenomena observed for heavy users such as prolonged detection of THC-COOH in urine or cannabis-related flashbacks. Moreover, these results support the interest for this animal model, which could be used in further studies of distribution of cannabinoids in tissues.