Kuratorengesetz: Darf ein Gesetz einem Investor einen Kurator aufzwingen?

Im Zusammenhang mit der A-Tec-Pleite sorgte die Tatsache für überraschung, dass in ?sterreich auf Basis des sogenannten Teilschuldverschreibungskuratorengesetzes ein gerichtlich zu bestellender Kurator die Gl?ubigerrechte der Anleiheinhaber koordiniert. Der Beitrag geht der Frage nach, ob dieses aus dem Jahr 1874 stammende Gesetz überhaupt noch gültig ist und ob die darin vorgesehene Kuratorenbestellung in verfassungs- und unionsrechtskonformer Interpretation (noch) als zwingende Norm angesehen werden muss, wie der OGH in einer bislang nicht revidierten Entscheidung aus dem Jahr 1937 befand.     

Comment on Michael A. Stegman et al.’s “Preventive servicing is good for business and affordable homeownership policy”: What prevents loan modifications?

Abstract

After discussing the article by Stegman et al., this comment describes the barriers to preventive servicing for securitized residential loans and assesses the importance of loan modifications, given the recent increases in default and foreclosure rates for subprime loans. Several hurdles slow or reduce such modifications, even those that help borrowers and investors alike. For example, self‐interest may reduce servicers’ willingness to modify loans rapidly. In addition, underlying securitization agreements may impede servicers’ ability and discretion in this area. Further, tax laws that govern a common securitization entity may limit modifications, as may accounting standards. Finally, “tranche warfare,” the sometimes contradictory fiduciary duties servicers have toward investors holding different tranches of securitized pools, may decrease their ability or their willingness to modify loans.

This comment concludes that barriers to effective loan modifications should be reduced or eliminated where feasible, but that the securitization of subprime loans creates risks for borrowers.     

Compliance and learning in an intervention program for partner-violent men

Although research has yielded mixed findings regarding the effectiveness of intervention programs for partner-violent men, it appears that greater participant compliance with such programs is associated with better outcomes. However, no research to date has jointly examined compliance with intervention programs and the extent to which partner-violent men learn specific information presented during the programs. The current study makes use of existing data to evaluate general and specific elements of partner-violent men's compliance with (i.e., active, appropriate participation in) an intervention program and recall of key points from the program. Results from a subsample of 22 men indicate that at program termination, those rated as having been "process conscious" during intervention group sessions, having self-disclosed during sessions, having evidenced awareness and use of techniques to avoid violence, and having used respectful language show greater recall of material taught in the program. This finding points to the potential benefit of taking steps to increase men's active participation in programs and of studying active engagement as a mediator of program effects on men's violence toward partners.     

Wohnsitzwahl und lokale Einkommensbesteuerung

Städtische Agglomerationen der Schweiz bestehen aus einer Vielzahl von Gemeinden mit grossen Differenzen in der Steuerbelastung, in den Wohnpreisen und im durchschnittlichen Einkommen der Bewohner. Gemeinden mit einem hohen Anteil an reichen Einwohnern weisen dabei systematisch tiefere Einkommenssteuern, höhere Wohnpreise und ein leicht grösseres Angebot an öffentlichen Gütern auf als arme Gemeinden. Der vorliegende Beitrag zeigt an zwei theoretischen Modellen, wie eine solche Situation als Gleichgewicht entstehen kann, wenn Haushalte ihren Wohnsitz frei wählen und Gemeinden die lokalen öffentlichen Güter durch die Besteuerung des Einkommens ihrer Einwohner finanzieren. Die Simulationen der kalibrierten Modelle können die beobachteten Steuer‐ und Einkommensunterschiede in der Metropolregion Zürich gut erklären. Die Untersuchung der Wohnsitzwahl von Haushalten in der Metropolregion Basel zeigt, dass die tiefen Steuern in den reichen Gemeinden nicht nur eine Folge des guten Steuersubstrats sind, sondern auch eine Ursache dieser räumlichen Einkommensunterschiede.     

The Influence of Case and Professional Variables on the Identification and Reporting of Child Maltreatment: A Study of Licensed Psychologists and Certified Masters Social Workers

All 50 states have laws requiring mental health and other professionals to report suspected maltreatment. Unfortunately, many professionals who are mandated to report suspicions of child maltreatment often fail to recognize potential maltreatment or fail to report their suspicions. The present study examines several factors that may influence identification and reporting of child maltreatment. Subjects were licensed psychologists in the Midwest and certified Masters social workers in Nebraska. Child maltreatment included neglect, physical abuse, psychological maltreatment, and sexual abuse. Characteristics associated with the family or “case” (race, socioeconomic status of family, age of victim, type of maltreatment) were manipulated and presented in hypothetical case vignettes. Characteristics of the professional (e.g., training and experience with identification and reporting, personal history of maltreatment and violence) were also investigated. Ratings of the severity of the potential maltreatment situation, suspiciousness that maltreatment is occurring, and likelihood of reporting maltreatment were completed after reading each case vignette. The results indicate that a variety of case and professional factors may influence identification and reporting of maltreatment. Implications for training professionals and further research are discussed.