Legal Aspects of International Trade and Enterprise - Hunt et al. v. Alliance North American Government Income Trust, Inc
Verified
Added on 2023/02/03
|15
|719
|45
PowerPoint Presentation
AI Summary
Learn about the legal aspects of international trade and enterprise through the case of Hunt et al. v. Alliance North American Government Income Trust, Inc. Understand the background, brief of the case, arguments from both parties, tribunal decision, and the importance of the case in international law.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
LEGAL ASPECTS OF INTERNATIONAL TRADE AND ENTERPRISE
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Case: Huntetal.v. AllianceNorth American Government Income Trust, Inc
INTRODUCTION Case: Huntetal.v.AllianceNorthAmerican Government Income Trust, Inc Plaintiffs: Robert b. Hunt, IRA; Paul James, IRA and Paul James Defendants:NorthAmericanGovernment Income Trust, Inc.
BACKGROUND OF THE CASE Share of the trust were purchased by plaintiffsforaperiodoffrom27th March 1992 to 23rdDecember 1994. Investment in open ended mutual funds ofgovernment securities of Canada, Mexico and US. Shares were sold pursuant to registration statement and prospectus issued by the Trust.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
BACKGROUND OF THE CASE Statement in prospectus: trust managers will use hedging technique for avoiding adverse effect offluctuation in rates of foreign currency. Byendof1994,MarxianPesowas devalued and there was a sudden fall in value of mutual fund.
BRIEF OF THE CASE Consolidatedcomplainwasfiledin district court of New york against the Trust. Allegationwasmadethatstatements presented in prospectus are misleading. Application was rejected by district court with all averments and it was stated that a motion for leave to re plead could be entertained.
BRIEF OF THE CASE Appeal wasmade in United States Court of Appeal to pass the motion and making amendments in the compliant. Contention was made by plaintiffsthat decision of district court is not correct about dismissing their case.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
THE ARGUMENTS Plaintiffs: Hedging techniques: Funds are exposed to currency fluctuation but are covered under hedging technique. Hedging might not cover all the risk. It was not mentioned anywhere that hedging was not available to use for covering of risk.
THE ARGUMENTS Proposed Amended Complaint Hedging devise is available and that Fund wouldmakeanattempttoprotectthe investment against currency risk. Cautionary language in prospectus does nor necessarily disclosedall liabilities as it had warned investors about different constituencies other than the claim of plaintiffs.
THE ARGUMENTS Other claims: Itwascontentedthat,plaintiffsmustbe allowed to amend their complained to allege that annual report and advertising material of defendant was also misleading. violation of section 13(a) (3) of Investment CompanyActfordeviatedtheprudent investment risk without taking vote from the shareholders.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
THE ARGUMENTS Defendants: languages used in prospectus is cautionary. Statementmadeclearswarningaboutrisk related with investment. Investor must posses ability to forecast interest rate and inherent risk. The case must be judged with decision made in case of “Olkey, 98F.3d at 2. Prospectus must be read in full.
THE TRIBUNAL DECISION For use of hedging technique it was held thatdistrict courts decision was not upheld and plaintiffs were granted relief. Forotherclaimsthedecisionof district court was affirmed.
THEIMPORTANCEOFCASEIN INTERNATIONAL LAW Presenting Unambiguous clauses in registration statements and prospectus. Risk cover: Type, level and extent, Formulation of legislation
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
REFERENCES Baber,G.,2017.EssaysonInternationalLaw.Cambridge Scholars Publishing. Baker,W.,2017.XIXBibliography,TextualCriticism,and ReferenceWorks.TheYear'sWorkinEnglishStudies.96(1). pp.1335-1468. Crites,R.W.,Middlebrooks,E.J.andBastian,R.K., 2014.Natural wastewater treatment systems. CRC Press. Read, D. W. and Bailey, W. A., 2015. A primer on teaching the law of wills, probate, and basic estate planning documents to business law students.Southern Journal of Business and Ethics,7, pp.11- 35. Saxunova,D.,2017,August.GREENBONDSASA COMPONENT OF THE SUSTAINABLE FINANCING AND THEIR PERFORMANCE. In3rd 2017 Academy of Business and Emerging Markets (ABEM) Conference(p. 6).