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The Bankruptcy Hotline
'Pre-Packaged' plan rejected by Third Circuit
The Third Circuit has rejected a “pre-packaged” reorganization plan that purported to resolve all of the debtor's outstanding asbestos claims by establishing a $1.2 billion trust. The court found that although the debtor's plan was presented as a pre-packaged Chapter 11 reorganization, it more closely resembled a liquidation of the debtor with a post-confirmation trust funded in part by non-debtors. The court's ruling reverses decisions by the bankruptcy and district courts, which had both approved the plan. In re Combustion Engineering Inc., No. 03-3392, et al. (Dec. 2).
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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
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.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.