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Redemption Payments Salvaged Prior to the Collapse of Ponzi Schemes
What can be worse than crushed expectations? Consider the following: An investor's money was invested with a hedge fund that turned out to be a Ponzi scheme. In a stroke of luck, the investor avoided a huge loss by redeeming his investment and gains prior to the collapse of the crooked company. Now, the trustee of the bankrupt hedge fund wants the money back, claiming that the transfer was fraudulent under ' 548 of the Bankruptcy Code and the N.Y. Fraudulent Conveyance law (New York Debtor & Creditor Law ” 271-276). Is there a quick way out of this nightmarish scenario? No, according to Bayou Superfund LLC v. WAM Long/Short Fund II. L.P. et al. (In re Bayou Group, LLC), 2007 WL 582530 (Bankr.S.D.N.Y.)
Bayou
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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.
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.
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.
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.