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In The Marketplace
Bank of the West of San Francisco has announced the promotion of Jerry Newell to executive vice president. Newell is the head of the $28 billion asset bank's Equipment Leasing Department, which serves businesses via the bank's nearly 300 branches and through brokers and vendors across the country. Newell started with the bank in 1987 and has been with the Equipment Leasing Department for more than 9 years. Under his management, the department has grown from $30 million in lease assets in 1994 to $650 million as of Sept. 30, 2003. Newell oversees three equipment leasing business lines at Bank of the West: indirect leasing nationwide, direct leasing within the bank's Western states footprint, and nationwide vendor leasing through subsidiary Trinity Capital Corporation. Prior to this promotion, Newell was senior vice president, a position he held since 1998.
DVI Inc. of Jamison, PA has announced that it has reached a preliminary agreement to transfer to a unit of U.S. Bancorp the right to collect payments on DVI leases. DVI Financial Services, the leasing subsidiary of the bankrupt health care finance company, has agreed to transfer the rights to US Bank Portfolio Services, pending approval of the U.S. Bankruptcy Court in Delaware. DVI filed for bankruptcy protection in late August after “apparent improprieties” in its financial dealings prevented it from securing new financing. DVI is attempting to pay back lenders by liquidating assets piecemeal. In late October, it announced the sale of 133.7 million euros of assets to ING Lease Holding NV, a unit of the ING Group.
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.
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.
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.