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Innovative Discount System Created With DirectInvoice
Our legal department at Atlantic Bank of New York was looking for an electronic invoicing system to make our outside counsel billing process more manageable. What we found was new technology and software that enabled us not only to improve the overall efficiency of our system but also to implement an invoice discounting policy that saves us money and gets our outside counsel paid quickly. The discounting policy lets us reduce payments to outside counsel by a set percentage if we pay their bills within 20 days and reduces the fees further in the event of late invoice submission. Because the new invoicing system lets us turn invoices around so quickly, we have achieved such significant savings that we expect the invoicing system to pay for itself within just a few years.
The technology that made this possible is DirectInvoice.com from Tripoint Systems Development Corporation. As executive vice president and general counsel, I was responsible for selecting new matter tracking and electronic invoicing systems for the bank's legal department. With the help of Deloitte & Touche, I identified the needs of my department and the bank, assessed a number of systems and finally settled on DirectInvoice. Our legal department had installed a matter management system in the early 1990s, but by 2002 that system was outdated. We wanted a more advanced, more sophisticated system offering an array of features that would increase the amount, quality and efficiency of our work. Most importantly, we wanted an electronic invoicing system to replace our manual paper system, which was labor-intensive and time-consuming.
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.
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.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.