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What Happens to Chapter 11 Cases?
This Special Edition of The Bankruptcy Strategist is devoted entirely to the recently enacted “Bankruptcy Abuse Prevention and Consumer Protection Act of 2005,” which makes the most sweeping changes to the Bankruptcy Code seen in the last 20 years (although the law does nothing to address some significant issues that have been much debated, such as asbestos, forum shopping, and pension liability). The legislation primarily takes aim at perceived consumer bankruptcy abuses, but will also affect numerous aspects of business bankruptcy practice.
This article analyzes key changes to the Bankruptcy Code that will be important to most business bankruptcy participants. Other articles in this issue address in detail the changes related to cross-border insolvencies, executory contracts, financial contracts, investment bankers, and plan exclusivity. Neither we nor the other contributors to this edition have attempted to address the substantial changes affecting only individuals who file for Chapter 11 relief, or changes to the special provisions for “small business” and “single asset real estate” debtors, as those terms are defined in the Code.
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.