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Counsel Concerns
Legal Services After Bankruptcy Post-Petition Filed
The U.S. Bankruptcy Appellate Panel for the Tenth Circuit decided that a law firm that represented a debtor in litigation over the production and distribution of a motion picture wasn't entitled to attorney fees for work done on the film litigation after the debtor/client filed for bankruptcy but before the bankruptcy plan was confirmed. In Re Lacy, 335 B.R. 729 (2006). Stinky Love Inc. (SLI) had sued Nesbit Lee Lacy regarding contracts and investments in the movie 'Love Stinks.' The law firm of Bennett & Fairshter LLP (BF) served as Lacy's counsel in the dispute. Lacy filed for bankruptcy after a losing an initial ruling in the film litigation. SLI subsequently won a judgment against Lacy that was affirmed by the California Court of Appeal. SLI and Lacy then agreed to a stipulation of $6.26 million as SLI's unsecured claim. BF didn't file an application to have the bankruptcy court approve its postpetition legal work as an administrative expense.
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.