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Pitfalls of Critical Vendor Litigation
The latest development in 'critical vendor' litigation occurred in the case where much of it began ' the Kmart Corporation bankruptcy case. On April 12, 2006, United State Bankruptcy Judge Susan Pierson Sonderby denied motions to dismiss lawsuits seeking the return of critical vendor payments, paving the way for the cases to proceed to trial. See Memorandum Opinion, In re Kmart Corporation, et al., Chapter 11 Case No. 02 B 02472, Adv. Nos. 04 A 00126, 00094, 00087, 02898, 00158, 02775, 02865, 02785, 02875, 02102, 02436, 02005, 02479, 00145, 01970, 02072, 02118, 02395 (Bankr. N.D.Ill. April 12, 2006). Although Judge Sonderby's decision was not published, this latest chapter of the Kmart story is worth noting.
Background
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.