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COVID-19: A Massive Impediment to Bankruptcy Relief
The impact of COVID-19 on efforts of businesses to reorganize or even orderly liquidate in bankruptcy has been swift and devastating, particularly in the retail sector. Who could have ever thought that the economy would be so shut down that restructuring efforts under the Bankruptcy Code would be impossible? In the financial apocalypse of 2008, the notion was that certain financial institutions were too big to fail. With the COVID-19 pandemic, "too shut down to shut down" may be the mantra to describe efforts under the Bankruptcy Code.
Whether it is orderly liquidation or reorganization, COVID-19 is serving as a massive impediment to bankruptcy relief. With uncertainty as to when the pandemic will ease, Bankruptcy Courts do not seem to be a panacea leading to successful reorganizations or orderly liquidations for troubled companies.
Art Van Granted Chapter 7 Conversion
Pleadings in bankruptcy cases almost always lead with a chronological history of financial difficulties, including cash flow issues, burdensome debt loads, and oppressive litigation. COVID-19 has downgraded the significance of such chronologies for retailers.
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The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
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How AI Has Affected PR
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The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.