The Lowell Milken Institute provides a forum for the
exploration of important current business law issues. We bring together legal
practitioners, business advisors, business executives, federal and state
regulators and academics for in-depth discussions with the goal of developing
policies and resolutions that make a difference in the business law
community. This spring, the Lowell Milken Institute hosted three Business Law Breakfasts.
Victor Fleischer, Co-Chief Tax
Counsel on the Senate Finance Committee addressed Tax Reform: The
State of Play. Mr. Fleischer provided an overview of the tax reform
efforts in both the United States House of Representatives and the
Brandon L. Garrett, the Justice
Thurgood Marshall Distinguished Professor of Law at the University of
Virginia School of Law, discussed his recent publication Too Big to Jail
with commentary provided by Stephanie
Yonekura, former Acting U.S. Attorney in Los Angeles. (More)
spring, the Lowell Milken Institute partnered with the Southern California
Chapter of the National Association of Corporate Directors to present a
conversation with Myron
T. Steele, the former Chief Justice of the Delaware Supreme
Court on New Issues for Corporate Governance under Delaware Law.
Chief Justice Steele was joined by Arnie
Pinkston, Director of Janus Capital Group, and the discussion
was moderated by Stephen
M. Bainbridge, the William D. Warren Distinguished Professor
of Law, UCLA School of Law. (More)
Lowell Milken Institute-Sandler Prize Winners Selected!
On Wednesday, April 19, 2017, six UCLA
teams competed in the Final Round for the Lowell Milken Institute-Sandler
Prize for New Entrepreneurs. Two prizes were awarded by the blue-ribbon panel
of judges: a first place prize of $70,000 and a second place prize of
$30,000. The prize money must be used for the ventures created by each of the
members, from left to right: Mehdi Roein-Peikar (Dentistry '19) and Angela
Li (JD '17).
Mechanodontics won the $70,000 first place
prize and YT AG. won the $30,000 second place prize. This year, the
Lowell Milken Institute also sponsored an Audience Favorite Award, in which
audience members were able to vote for the team they thought had the most
compelling plan. Team Good Luck Gaming won the Audience Favorite Award, and
the team members will receive $1,000 to be split among them. (More)
YT AG. team members,
from left to right: Jared Xu (JD
Yingtian Yu (PhD ‘17) and Sofia Beltràn (JD
Lowell Milken Institute Publishes the 2017 Private Fund
Report and Hosts Accompanying Conference:
Does “Two and
Twenty” Have a Future?
On Thursday, May 18, 2017, the Lowell
Milken Institute published its 2017 Private Fund Report in
conjunction with hosting the fourth annual Private Fund Conference. Under the
leadership of Tim
Spangler, Director of Research, the 2017 Private Fund Report
and Conference tackled the thorny question of whether the “Two and Twenty”
compensation structure for private fund managers will persist.
conference provided a diverse set of viewpoints on the controversial subject
and facilitated a frank and open conversation regarding the justification for
the Two and Twenty compensation system as well as exploring changes and new
approaches to compensation in the industry. Three panels of
professionals in the private fund industry examined fee structures,
investor/manager alignment and related issues. Panelists included fund
managers, large pension fund investors, academics, fund lawyers and the SEC.
conference concluded with the keynote address from Jagdeep Bachher,
Chief Investment Officer of the UC Regents. Mr. Bachher is responsible
for managing the UC Pension, endowment, short-term and total-return
investment pools representing a portfolio of more than $100 billion.
School of Law’s Two LawMeet Teams Victorious at National and Regional
Each year the Lowell Milken Institute
sponsors two teams of UCLA Law students to complete in the Transactional
LawMeet. This year UCLA Law’s two LawMeet Teams each took first place
in their regional competition. By winning their regional competition each
UCLA Law team then advanced to the National Championship final round held in
New York at the offices of Sullivan & Cromwell LLP. Only 14 teams
out of an initial 84 teams advanced to the National Finals.
Left image, from left to right: Christine Ristow, Reema Kapoor
At the National Finals, the team of Kimberley Johnson
(J.D. ‘17), Reema
Kapoor (LLM ‘17), and Christine
Ristow (J.D. ‘17) won Best Draft in the 2017 Transactional LawMeet. They were
joined at the National Championship finals by the UCLA Law team of Stephen Bandrowsky
(J.D. ‘17), Adam
Dondoyano (J.D. ‘18), and Tyler Dodge (J.D. ‘17). (More)
Right image, from
left to right: Stephen Bandrowsky, Adam
Dondoyano and Tyler Dodge.
UCLA School of Law and the Lowell Milken Institute Host
Prestigious Symposium on Delaware Corporate Law
On February 17 and 18, 2017, UCLA School of
Law and the Lowell Milken Institute for Business Law and Policy convened a
group of distinguished corporate law professors and practitioners from around
the country to address how Delaware came to dominate the corporate law
world and whether Delaware will sustain that dominance in the future. The
symposium, organized by Professor Stephen
M. Bainbridge, brought together a formidable lineup of
panelists to explore this important topic. (More)
papers written for and first presented at the conference will be collected
and published in a book by Cambridge University Press. Video Recordings
of Day One and Day Two of the conference
UCLA School of Law’s Business Law
Faculty Scholarship in 2016-17
Stephen M. Bainbridge
and Iman Anabtawi new
casebook Mergers and Acquisitions: A Transactional Perspective. (More)
Management Buyouts, 49 UC Davis Law Review 1285 (2016).
Stephen M. Bainbridge
Rule 14a-8's Ordinary Business Exemption: Preventing Shareholder
Micromanagement by Proposal, 85 Fordham Law Review 705 (2016).
Liability: A Legal and Economic Analysis (with M. Todd
Henderson). Edgar Elgar Publishing (2016).
Delaware's Self-Inflicted Wound, 40 Delaware Journal of Corporate Law 851
Steven A. Bank
Executive Pay: What
Worked? (with Brian R. Cheffins and Harwell Wells), 42 Journal of Corporation
Law 59 (2016).
Journal of Legal Education (2016). Review of Making the American Fiscal
State: Law, Politics, and the Rise of Progressive Taxation, 1877-1929,
by Ajay K. Mehrotra.
Paying High for Low Performance
(with George S. Georgiev), 100 Minnesota Law Review Headnotes 14 (2016)
Daniel J. Bussel
Ethics for Examiners, 84 Fordham Law
Review 2073 (2016)
A Third Way: Examiners as
Inquisitors, 90 American Bankruptcy Law Journal 59 (2016).
David Skeel). 10th ed. Foundation Press (2015). With Teacher's Manual.
Sung Hui Kim
Anti-Corruption Norm, in Research Handbook on Fiduciary Law (edited by Andrew
S. Gold and Gordon Smith, Edward Elgar Publishing Ltd, 2017).
Responsibility: A Contemporary Approach (with Bruce Green, Peter Joy,
Renee Knake, Ellen Murphy, Russell Pearce, Laurel Terry). 3rd ed. West
Inside Lawyers: Friends or
Gatekeepers?, 84 Fordham Law Review 1867 (2016).
Bankruptcy and the Supreme Court:
1801-2014 (with Whitman L. Holt). West Academic (2015).
Lynn M. LoPucki
Empiricism, 76(2) Maryland Law Review 449 (2017).
Secured Credit: A
Systems Approach (with Elizabeth Warren and Robert M. Lawless). 8th ed. Aspen
Publishing (2016). Prior edition: 7th, 2012. With Teacher's Manual.
Dawn of the
Discipline-based Law Faculty, 65 Journal of Legal Education 506 (2016).
Will Tax Reform Be
Stable?, 165 Univ. of Pennsylvania Law Review 1159 (2017).
Legislative Uncertainty: A Case Study in Tax Policy (with Christopher
Tausanovitch), 69 Tax Law Review 485 (2016).
of Securities Class Actions, 14 Journal of Empirical Legal Studies 169
Distinction Between Corporate and Securities Law, 64 UCLA Law Review 116
Kirk J. Stark
The Role of Expressive Versus
Instrumental Preferences in U.S. Attitudes Toward Taxation and
Redistribution, in Philosophical Explorations of Justice and Taxation 167
(edited by Helmut P. Gaisbauer, Gottfried Schweiger, and Clemens Sedmak, IUS
Eric M. Zolt
Inequality in Canada and the United States: Two Stories or One? (with Richard
Bird), 52 Osgood Hall Law Journal 401 (2015).