Explaining the choice between alternative insolvency regimes for troubled companies in the UK and Sweden

Over the past 20 years UK and Swedish insolvency law has moved in the direction of company rescue rather than enforcing secured creditor priority. However, both countries show a low take up rate of rescue procedures. This paper uses a cost-benefit approach to examine the choices faced by key stakeholders using the now conventional transaction cost paradigm. The paper argues that it is predominantly the ex post indirect and time costs which explain the poor take up of customised rescue procedures. In both countries the ex ante cost of delay in filing also presents a tough challenge not fully addressed by policymakers. JEL Classification K22     

Individuals lacking ridge detail: A case study in adermatoglyphia

Adermatoglyphia is a very rare autosomal‐dominant condition that is genetically inherited and causes an individual to be born without conventional ridge detail on either their palmar or plantar surfaces (the fingers and palms of the hands and the toes and the soles of the feet). While adermatoglyphia has been the focus of medical and genetic research, no previous research has been conducted with regard to the forensic recovery and identification of marks from an adermatoglyphic individual. By observation of ridge detail donated by an adermatoglyphic subject, the study uses different methods in order to capture fingermarks (methods include: inked capture, livescan (biometric) capture, cyanoacrylate fuming, ninhydrin enhancement, and physical developer). Unusually, the purpose of this paper ends up presenting a number of examples of an absence of evidence; unsuccessful attempts made to capture and enhance fingerprint ridge detail. This is determined over a range of standard means including "live" donations by the adermatoglyphic subject onto the Livescan system, and enhancements of latent donations. The subject shows to leave either insubstantial fingermarks with no detail, or no mark whatsoever.     

Privatisation and economic growth in developing countries

This article re-examines the relation between privatisation and economic growth. Previous studies that have attempted to measure this relationship have concluded that privatisation has had a sizeable positive effect on economic growth. Our study uses data for 63 developing countries over the time period 1988–97. It uses the framework of an extreme-bounds analysis (EBA) to conduct a cross-country growth regression analysis. Our findings contradict earlier results, but reaffirm the view that effective competition and its regulation may need to accompany privatisation to make a positive impact on economic growth.     

Presidential Term Limits Key to Democratic Progress and Security in Africa

Term limit norms in Africa have been deteriorating rapidly since 2015, reversing a positive trend over the previous two decades. This trend has important implications since longer presidential tenures are linked to increased corruption, reduced civil liberties, and higher rates of conflict. Even after term limit restrictions have been lifted, there is a pattern of incumbents manipulating electoral outcomes to stay in power. This reflects the declining popularity of these leaders and points to the self-interested motivations for their extended tenures vis-à-vis broader service to the public. It further highlights that the evasion of term limits does not happen in isolation but is part of a broader pattern of undermining the rule of law and weakening democratic institutions. Failure to reverse the downturn in respect for term limits risks bringing Africa back to an era of de facto “presidents for life” and one-party states.     

Decomposition and insect succession of clothed and unclothed carcasses in Western Australia

The effect of clothing on carcass decomposition and patterns of insect succession onto remains were investigated in two separate years during autumn in Western Australia. The progression of decomposition differed between clothed and unclothed carcasses in both years of the study. The presence of clothing markedly prolonged the wet decay stage in both years with larval feeding occurring across the moist skin surface underneath clothing, as well as within and under the carcasses. Ambient temperatures were higher in the second year of the study and corresponded to marginally faster rates of decay throughout decomposition. Within years, insect arrival and oviposition were largely consistent between clothed and unclothed carcasses with a few notable exceptions. The green blow fly, Lucilia sericata Meigen (Diptera: Calliphoridae) oviposited one day earlier on clothed than unclothed carcasses in both years of the study. The black carrion fly, Australophyra rostrata Robineau-Desvoidy, (Diptera: Muscidae) colonised clothed carcasses in two distinct waves of succession but only one wave of ovipoistion was observed on unclothed carcasses in either year. Correspondingly, clothed carcasses supported larval feeding by A. rostrata for a longer duration than unclothed carcasses. Finally, dipteran larval masses were more widely distributed across the carcass surface and were present for a longer period of time on clothed carcasses than on unclothed carcasses in both years. Forensically relevant data detailing the seasonal pattern of insect succession onto clothed and unclothed decomposing remains in Western Australia are reported.