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2005 Bankruptcy Act: What Your Company Needs To Know
On April 20, 2005, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (the Act). The Act made significant modifications to the United States Bankruptcy Code (11 U.S.C. Section 101, et seq.) (the Code) and related federal statutes. The Act, its Congressional history, and its changes to the Code can be found at http://thomas.loc.gov/cgi-bin/cpquery/R?cp109:FLD010:@1(hr031).
While initial focus centered on the Act's consumer bankruptcy provisions, the Act also contains provisions that significantly impact businesses and their representatives, including officers, directors and employees. Most of the Act's consumer-related provisions are not effective until 180 days after its passage (Oct. 17, 2005); however, some of the more significant provisions affecting businesses and their representatives were effective on April 20, 2005. One particularly significant provision ' related to conduct addressed in the Sarbanes-Oxley Act of 2002 ' is retroactively effective as of July 30, 2002, the enactment date of Sarbanes-Oxley.
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.