Mr -' ' / . . 1 Volume 24 No. 2 1991 MXONWiRS'rvl ARTICLES Redefining Corporate Law David Millon Who Indemnification of Corporate Executives Ha., Convicted of Crimes: An Assessment and Proposal Pamela H. Bucy Loss Causation: Exposing a Fraud on Securities Law Jurisprudence Michael J. Kaufman ESSAY Who's Been Sleeping in My Bed? You and Me, and the State Makes Three Phyllis Coleman NOTES Redefining the New Value Exception to the Absolute Priority Rule in Light of the Creditors' Bargain Model Reducing the Federal Docket: An Exclusive Administrative Remedy for Prisoners Bringing Tort Claims Under the Federal Tort Claims Act The Berne Convention and Protection of Works of Why Architecture: the United States Should Create a New Subject Matter Category for Works of Architecture Under Section 102(a) of the Copyright Act of 1976 — Career Move. No doubt you plan to start a successful legal career soon, so here's a tip: Start reading Law Week now. While you're still in law school. Why? Because top attorneys nationwide read Law Week every week, and as you know, it's never a bad idea to follow in the footsteps of the best. But more importantly Law Week gives you complete coverage of today's most important cases, with immediate notification of precedent- setting court decisions in every legal field, plus unparalleled Supreme Court reporting. Indeed, Law Week puts you on the cutting edge of American law. What better way to start a successful legal career. Make your move now. Ask your professor for details on Law Week^s low student rates today. The Bureau of National Affairs, Inc. 1231 25th Street, N.W. Washington, D.C. 20037 202/452-4200 The United States LawWeek With West's coordinated legal research system, you ve got what takes to cut your it research time and cost. West Books & WESTLAW® Get the information you need, when you need it, in the most convenient, economical form. The West legal research system makes it possible. West books and WESTLAWwork together, yet each provides unique advantages that allowyou the flexibility to choose the best tool foryour research. See what West's coordinated legal research system can do foryou. Contact your local West Sales Representative or call 1-800-328-9352 (0-612-688-3600 in MN). There's no obligation. II WEST PUBLISHING CO. Key Number Power. A Winning Tradition ©1990WESTPUBLISHINGCOMPANY7-9286/1-90 206480 my Please enter subscription to the INDIANA LAW REVIEW NAME ADDRESS Enclosed is $. for subscriptions. Bill me for _ subscriptions. Mail to: INDIANA LAW REVIEW INDIANA UNIVERSITY SCHOOL OF LAW-INDIANAPOLIS 735 West New York Street Indianapolis, Indiana 46202 Subscription Rates (one year): Regular, $22; Foreign, $25 (4 issues) Single Issue, $7; Survey Issue $15.00 Indiana Review^ Laiiv Volume 24 1991 Number 2 © Copyright 1991 by the Trustees of Indiana University TABLE OF CONTENTS Articles Redefining Corporate Law David Millon ITi Indemnification of Corporate Executives Who Have Been Convicted of Crimes: An Assessment and Proposal .Pamela H, Bucy 279 . . Loss Causation: Exposing a Fraud on Securities Law Jurisprudence Michael J. Kaufman 357 Essay Who's Been Sleeping in My Bed? You and Me, and the State Makes Three Phyllis Coleman 399 Notes Redefining the New Value Exception to the Absolute Priority Rule in Light of the Creditors' Bargain Model Derek J. Meyer 417 Reducing the Federal Docket: An Exclusive Administrative Remedy for Prisoners Bringing Tort Claims Under the Federal Tort Claims Act Lori Carver Praed 439 The Berne Convention and Protection of Works of Architecture: Why the United States Should Create a New Subject Matter Category for Works of Architecture Under Section 102(a) of the Copyright Act of 1976 Laura E. Steinfeld 459 Volume 24 1991 Number 2 ® The entire text of this Law Review is printed on recycled paper. Indiana Law Review (ISSN 0090-4198) Published four times a year by Indiana University. Editorial and Business Offices are located at: Indiana Law Review 735 W. New York Street Indianapolis, IN 46202 (317) 274-4440 Subscriptions. The current subscription rates are $22.00 per four-issue volume (domestic mailing) and $25.00 (foreign mailing). Unless the Business Office receives notice to the contrary, all subscriptions will be renewed automatically. Address changes must be received at least a month prior to publication to ensure prompt delivery and must include old and new addresses and the proper zip code. Single and Back Issues. Current single regular issues may be obtained from the Law Review Business Office for $7.00. Current Survey issues may be purchased for $15.00. Please enclose payment with order. Complete sets and single issues of prior volumes are also available from the Law Review Business Office. Unless a claim is made for nonreceipt of issues within one year of the mailing date, we cannot guarantee supplying the issues without charge. Manuscripts. The Indiana Law Review invites submission of unsolicited manuscripts. All citations should conform to A Uniform System of Citation (14th ed. 1986). Manuscripts should be triple-spaced with wide margins. The Indiana Law Review, as a matter of policy, promotes the use of gender-neutral language, and alternate use of the female or male pronoun is intended to refer to both female and male. Copyright. All articles Copyright 1991 by The Trustees of Indiana University, ex- cept where otherwise indicated. All rights reserved. Opinions expressed are those of the contributor and are not presented as the views of the Indiana Law Review, its editors, or Indiana University School of Law-Indianapolis. Indiana La^v Revieifv Volume 24 1991 Editor-in-Chief Angela K. Wade Executive Managing Editor Kathleen A. Hash Executive Editor Executive Editor Articles Notes and Topics Edwin J. Broecker Laura E. Steinfeld Articles Editors Note Development Editors Annette T. Brogden Janet S. Dowling Larry L. Morris S. Daniel Harbottle Natalee A. Roknich Lori Carver Praed Michele B. Sowers Jeffrey W. Short Suzann M. Weber Elizabeth L Van Tassel Jay A. Ziemer Jill E. Workman Associate Editors \ Matthew J. Becker Janet Marin Robert T. Buday Derek J. Meyer Joseph G. Eaton James R. Meyer, Jr. Christopher J. Franzmann David D. Robinson Katharine M. Gardner Curtis E. Shirley Sandra L. Gosling James R. Taylor William Hammel Stephen P. Ullrich Tammy E. Hinshaw Catherine R. Urban Jeffrey G. Jackson Gail M. Valentine Jan K. Keefer Mark A. Voigtmann Elizabeth H. Knotts John W. Woodard, Jr. Michael B. McNeil Editorial Assistant Amy Morrison Grubbs Faculty Advisor Debra A. Falender .. — Indiana University School of Law Indianapolis 1990-91 ADMINISTRATIVE OFFICERS AND FACULTY Administrative Officers Thomas M. Ehrlich, President of the University and Professor of Law. LL.B., Harvard University, Gerald L. Bepko, Vice-President, Indiana University; Chancellor, Indiana University-Purdue University at Indianapolis and Professor of Law. J.D., IIT/Chicago-Kent College of Law; LL.M., Yale University. Norman Lefstein, Dean and Professor of Law. LL.B., University of Illinois; LL.M., Georgetown University, Thomas B. Allington, Associate Dean for Academic Affairs and Professor ofLaw. J.D., University of Nebraska; LL.M., New York University. Arlene G. Anderson, Assistant Dean for Student Affairs. J.D., Indiana University-Indianapolis JoNNA M. Kane, Assistant DeanforAdministration. J.D., Indiana University-Indianapolis. JoNi D. Thompson, Assistant Dean for Development. M.S., Ball State University. Angela M. Espada, Director of Admissions. J.D., Indiana University-Bloomington. Faculty Thomas B. Allington, Associate Dean and Professor of Law. B.S., J.D., University of Nebraska; LL.M., New York University. Edw^ard p. Archer, Professor of Law. B.M.E., Rensselaer Polytechnic Institute; J.D., LL.M., Georgetown University. James F. Bailey, III., Professor ofLaw andDirector ofLaw Library. A.B., J.D., M.A.L.S., University of Michigan. Gerald L. Bepko, Vice President, Chancellor and Professor ofLaw. B.S., Northern Illinois University; J.D., IIT/Chicago-Kent College of Law; LL.M., Yale University. Paul N, Cox, Professor of Law. B.S,, Utah State University; J,D., University of Utah; LL.M., University of Virginia. Clyde Harrison Crockett, Professor of Law. A.B., J.D., University of Texas; LL.M., University of London (The London School of Economics and Political Science). Debra a. Falender, Professor of Law. A.B., Mount Holyoke College; J.D., Indiana University-Indianapolis Margaret M. Frisbie, Visiting Assistant Professor ofLaw. B.S., Northwestern University; J.D,, University of Kentucky. David A. Funk, Professor ofLaw. A.B., College of Wooster; J.D., Case Western Reserve University; M.A., The Ohio State University; LL.M., Case Western Reserve University; LL.M., Columbia University. Paul J. Galanti, Professor ofLaw. A.B., Bowdoin College; J.D., University of Chicago. Helen P. Garfield, Professor of Law. B.S.J. Northwestern University; J.D., University , of Colorado. Harold Greenberg, Professor of Law. A.B., Temple University; J.D., University of Pennsylvania. Jeffrey W. Grove, Professor of Law. A.B., Juniata College; J.D., George Washington University. Frances W. Hardy, Clinical Assistant Professor ofLaw. B.S., Ball State University; J.D., Indiana University-Indianapolis. WiLLLAM F. Harvey, Carl M. Gray Professor ofLaw. A.B., University of Missouri; J.D., LL.M., Georgetown University. Paul T. Hayden, Assistant Professor ofLaw. B.A., Yale University; J.D., University of Cahfornia, Los Angeles. W. William Hodes, Professor of Law. A.B., Harvard College; J.D., Rutgers Newark.* Lisa C. Ikemoto, Assistant Professor ofLaw. B.A., University of California, Los Angeles; J.D., University of California, Davis; LL.M., Columbia University. Law^rence a. Jegen, III., Thomas F. Sheehan Professor of Tax Law and Policy. A.B., Beloit College; J.D., M.B.A., The University of Michigan; LL.M., Harvard University. Henry C. Karlson, Professor of Law. A.B., J.D., LL.M., University of lUinois. WiLLLVM Andrew Kerr, Professor ofLaw. A.B., West Virginia University; J.D., LL.M., Harvard University; D.B., Duke University. Eleanor D. Kinney, Professor of Law and Director of the Center for Law and Health. B.A., Duke Universty; M.A., University of Chicago; J.D., Duke University; M.P.H., University of North Carolina. Walter W. Krieger, Associate Professor ofLaw. A.B,, Bellarmine College; J.D., University of Louisville; LL.M., George Washington University. Norman Lefstein, Dean and Professor of Law. LL.B., University of Illinois; LL.M., Georgetown University. David P. Leonard, Professor ofLaw. B.A., University of California at San Diego; J.D., University of CaHfornia, Los Angeles.** Deborah McGregor, Lecturer in Law. B.A., University of Evansville; J.D., Georgetown University. WiLLLAM E. Marsh, Professor of Law. B.S., J.D., University of Nebraska. SusANAH M. Mead, Professor of Law. B.A., Smith College; J.D., Indiana University-Indianapolis. MiRA MiHAjLOviCH, Lecturer in Law. B.A., Indiana University; M.P.A., University Texas; J.D., Indiana University-Bloomington. Mary H. Mitchell, Professor ofLaw. A.B., Butler University; J.D., Cornell Law School. James P. Nehf, Assistant Professor ofLaw. B.A., Knox College; J.D., University of North Carolina. Thomas R. Newby, Lecturer in Law. A.B., J.D., Indiana University-Bloomington. KiMBERLY E. O'Leary, CHnical Assistant Professor ofLaw. B.A., Oberlin College; J.D., Northwestern University. David R. Papke, Professor ofLaw and American Studies. A.B., Harvard College; J.D., Yale University; M.A., in American Studies, Yale University; Ph.D. in American Studies, The University of Michigan. Ronald W. Polston, Professor ofLaw. B.S., Eastern Illinois University; LL.B., University of Illinois. Joan M. Ruthenberg, Director ofLegal Writing. B.A., Mississippi University for Women; J.D., Indiana University-Indianapolis David E. Sorkin, Lecturer in Law. B.S. Bus., B.A., Indiana University; J.D., Harvard Law School. Kenneth M. Stroud, Professor of Law. A.B., J.D., Indiana University-Bloomington. James W. Torke, Professor of Law. B.S., J.D., University of Wisconsin. James Patrick White, ProfessorofLawandConsultanton LegalEducation to theAmerican BarAssociation. A.B., University of Iowa; J.D., LL.M., George Washington University. Lawrence P. Wilkins, Professor ofLaw. B.A., The Ohio State University; J.D., Capital University Law School; LL.M., University of Texas. Mary T. Wolf, Director ofClinicalPrograms. B.A., Saint Xavier College; J.D., University of Iowa College of Law. Emeriti Agnes P. Barrett, Associate Professor Emerita. B.S., J.D., Indiana University. Cleon H. Foust, Professor Emeritus. A.B., Wabash College; J.D., University of Arizona. John S. Grimes, Professor of Jurisprudence Emeritus. A.B., J.D., Indiana University. Mevlin C. Poland, Cleon H. FoustProfessorofLawEmeritus. B.S., Kansas State University; LL.B., Washburn University; LL.M., University of Michigan. R. Bruce Townsend, Cleon H. Foust Professor ofLawEmeritus. A.B., Coe College; J.D., University of Iowa. Special Visiting Adjunct Professor Thomas F. Schornhorst, Professor ofLaw Indiana University-Bloomington. B.A., Univer- sity of Iowa; J.D., George Washington University. Adjunct Faculty Michael Brown, J.D., Indiana University-Bloomington. Leslie DuVall, J.D. Indiana University-Bloomington. Ralph Hall, J.D., University of Michigan. Robert Hartley, J.D., Indiana University-Indianapolis. Grant Hawkins, J.D., Indiana University-Indianapolis. Thomas Henry, J.D., Indiana University-Indianapolis. SwADESH Kalsi, LL.M., George Washington University. Larry Landis, J.D., Indiana University-Indianapolis. John Maley, J.D., Indiana University-Indianapolis. Neil Shook, J.D., Indiana University-Indianapolis. Law Library Staff James F. Bailey, III, ProfessorofLaw andDirector ofLawLibrary. A.B., J.D., M.A.L.S., University of Michigan. MiNDE C. Glenn, Assistant DirectorforReaders' Services. B.A., Western Michigan Univer- sity; M.L.S., Indiana University. Wendell F. Johnting, Assistant Directorfor Technical Services. A.B., Taylor University; M.L.S., Indiana University, Mahnaz K. Moshfegh, Acquisition/Serials Librarian. B.A,, National University of Iran; M.S., Tehran University; M.A., Ball State University; M.L.S., Ph.D., Indiana University. Kiyoski Otsu, Computer System Specialist and Catalog Librarian. A.A., Parkland College; A.B., M.S., C.A.S., University of Illinois. Terence Rose, Reference Librarian. M.L.S., B.G.S., University of Michigan. * On leave Fall, 1990. ** On leave 1990-1991.