Commentary on Boshkoff, Some Gloomy Thoughts Concerning Cross-Border Insolvencies

The fruits of long experience suggest that caution and skepticism are essential qualities of mind with which to approach the phenomenon of cross-border insolvency and the multiple problems generated thereby. Pessimism may thus be acknowledged as closely akin to realism for the current purpose

Commentary on Aghion, Hart, and Moore, Improving Bankruptcy Procedure

I would consider it most unlikely that their radical model for determining the fate of insolvent companies will be incorporated into any legislative proposals that emerge from the current review. From the standpoint of most of the interested parties involved in the operation of U.K. insolvency law, Aghion, Hart, and Moore\u27s suggested process of mandatory transubstantiation, whereby debt is converted into equity on the stroke of midnight, as it were, is likely to prove too daunting both in conceptual and in practical terms

In Situ U–Pb Monazite and Xenotime Geochronology of the Abra Polymetallic Deposit and Associated Sedimentary and Volcanic Rocks, Bangemall Supergroup, Western Australia

Abra is a major lead–silver–copper–gold deposit within the Bangemall Supergroup that has a total indicated and inferred resource estimate of 93 million tonnes at 4.0% lead and 10 g/t silver and 14 million tonnes at 0.6% copper and 0.5 g/t gold. The mineralization lies within the upper part of the locally defi ned Gap Well Formation, and in the lower part of the overlying West Creek Formation. These units correlate respectively with the Irregully and lower Kiangi Creek Formations of the Edmund Group.The Abra deposit is characterized by a funnel-shaped brecciated zone, interpreted as a breccia feeder-pipe, overlain by stratabound mineralization made up of the Red Zone, an underlying Black Zone, and a stringer (feeder) zone. The Red Zone is characterized by banded jaspilite, hematite, galena, pyrite, quartz, abundant barite, and siderite. The Black Zone consists of veins and rhythmically banded Pb, Zn, and minor Cu sulfi des, laminated and/or brecciated hematite, magnetite, Fe-rich carbonate, barite, and scheelite.In situ Sensitive high-resolution ion microprobe (SHRIMP) U–Pb geochronology of detrital zircon, monazite, and xenotime in sandstones from the Abra deposit yields a range of dates from c. 2450 Ma to c. 1675 Ma, consistent with results from previous detrital zircon studies. SHRIMP dating of hydrothermal monazite from the Abra deposit suggests that a mineralization event occurred at c. 1385 Ma. The presence of c. 1465 Ma metamorphic/hydrothermal monazite in sandstones from Abra indicates that the host rocks are older and therefore belong to the Edmund Group. SHRIMP geochronology of xenotime extracted from the Tangadee Rhyolite, which outcrops within the lower Kiangi Creek Formation close to the Abra deposit, yields two main age components corresponding to oscillatory-zoned cores and unzoned rims. The cores are interpreted as magmatic in origin and indicate a possible eruption age of c. 1235 Ma, whereas the rims are interpreted to record a later hydrothermal event at c. 1030 Ma. If this interpretation is correct, then the sedimentary succession containing the rhyolite is younger than the Edmund Group (1465 Ma), and may belong to the basal Collier Group (1070 Ma) although the geological setting does not support this

Life history and morphological studies of Punctaria tenuissima (Chordariaceae, Phaeophyceae), a new record for the Azores

Copyright © 2010 by Walter de Gruyter.Punctaria tenuissima (Chordariaceae, Phaeophyceae) is reported for the first time from the Azores. Erect thalli were collected on the Island of Sa˜o Miguel; they were up to 3 cm long, flattened and often twisted. The plurilocular sporangia were formed from surface cells that were quadrate or rectangular in surface view. Unilocular sporangia were not observed in the field. In culture, the plurispores of P. tenuissima developed into Hecatonema-like, tufted, prostrate thalli that formed plurilocular sporangia. The plurispores of the prostrate thalli cultured at 158C with a long day (LD) photoperiod developed into new prostrate thalli, which in turn formed plurilocular sporangia. This cycle was repeated 5 times, resulting in several generations of reproductive prostrate thalli. When these cultures were cooled to 108C with a short day (SD) photoperiod, new erect thalli developed from the prostrate thalli resembling the thalli collected in the field. These erect blades produced unilocular and plurilocular sporangia on the same or on different thalli. The plurispores and unispores produced by the erect thalli at 108C under SD conditions once again developed into new prostrate thalli. This is the first report of unilocular sporangia formed in cultures of P. tenuissima. Sexual reproduction was not observed. The culture conditions, particularly temperature and daylength, appeared to influence the formation of erect blades. The Punctaria-like thalli were produced in 108C/SD conditions, whilst the Hecatonema-like thalli were produced under 108–158C/LD and SD conditions. These results are similar to those reported for P. tenuissima from other locations and suggest the occurrence of both direct and heteromorphic life histories in the Azorean algae

Disaggregating physiological components of cortisol output: A novel approach to cortisol analysis in a clinical sample - A proof-of-principle study.

Although childhood adversity (CA) increases risk for subsequent mental illnesses, developmental mechanisms underpinning this association remain unclear. The hypothalamic-pituitary-adrenal axis (HPAA) is one candidate system potentially linking CA with psychopathology. However, determining developmental effects of CA on HPAA output and differentiating these from effects of current illness has proven difficult. Different aspects of HPAA output are governed by differentiable physiological mechanisms. Disaggregating HPAA output according to its biological components (baseline tonic cortisol, background diurnal variation, phasic stress response) may improve precision of associations with CA and/or psychopathology. In a novel proof-of-principle investigation we test whether different predictors, CA (distal risk factor) and current depressive symptoms, show distinct associations with dissociable HPAA components. A clinical group (aged 16-25) at high-risk for developing severe psychopathology (n = 20) were compared to age and sex matched healthy controls (n = 21). Cortisol was measured at waking (x4), following stress induction (x8), and during a time-environment-matched non-stress condition. Using piecewise multilevel modeling, stress responses were disaggregated into increase and decrease, while controlling for waking cortisol, background diurnal output and confounding variables. Elevated waking cortisol was specifically associated with higher CA scores. Higher non-stress cortisol was specifically associated with higher depressive scores. Following stress induction, depressive symptoms attenuated cortisol increase, whilst CA attenuated cortisol decrease. The results support a differential HPAA dysregulation hypothesis where physiologically dissociable components of HPAA output are differentially associated with distal (CA) or proximal (depressive symptoms) predictors. This proof-of-principle study demonstrates that future cortisol analyses need to disaggregate biologically independent mechanisms of HPAA output.Wellcome Trus

The World Trade Organization: The Hong Kong Ministerial

The World Trade Organization (WTO) held its 6th Ministerial summit in Hong Kong from December 13-18, 2005. WTO Ministerials are held every two years to bring together trade ministers from member states, often to make political decisions for the body. Although an original goal of the Ministerial was to agree on a package of modalities (methods by which the round is negotiated) for the ongoing Doha Development Agenda (DDA) round of trade negotiations, this aim was dropped in order to avoid a high-profile failure similar to previous Ministerials at Cancun and Seattle. Rather, members agreed to some modest advancements in agriculture, industrial tariffs, and duty and quota-free access for least developed countries. The final outcome of these negotiations could provide a substantial boost to the world economy, but if the round itself is not completed, there may be repercussions for the WTO as an institution and for the architecture of the world trading system

The World Trade Organization: The Hong Kong Ministerial

The World Trade Organization (WTO) held its 6th Ministerial summit in Hong Kong from December 13-18, 2005. WTO Ministerials are held every two years to bring together trade ministers from member states, often to make political decisions for the body. Although an original goal of the Ministerial was to agree on a package of modalities (methods by which the round is negotiated) for the ongoing Doha Development Agenda (DDA) round of trade negotiations, this aim was dropped in order to avoid a high-profile failure similar to previous Ministerials at Cancun and Seattle. Rather, members agreed to some modest advancements in agriculture, industrial tariffs, and duty and quota-free access for least developed countries. The final outcome of these negotiations could provide a substantial boost to the world economy, but if the round itself is not completed, there may be repercussions for the WTO as an institution and for the architecture of the world trading system