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CONCERT TOURS/DEAL BREAKDOWN
The Court of Appeal of California, Second District, upheld a jury verdict ordering the return of $780,000 in deposit money paid for a proposed Rod Stewart tour of Latin America. But the court of appeal reversed a verdict of $1.6 million in damages that had been based on the jury's finding that Stewart's agent Steve Levine and lawyer Barry Tyerman intentionally interfered with contracts with tour subpromoters. PM Group Inc. v. Stewart, B181839. Concert promoter Howard Pollack and subpromoters AKE Music and Boulevard CIE filed the suit. In its unpublished opinion, the court of appeal first found that the expert testimony of entertainment attorney Owen J. Sloane had been properly admitted, noting, 'The record reveals Sloane's testimony related primarily to the customs and practices of the entertainment industry, specifically, the music concert business. Because these customs and practices are sufficiently beyond common experience, Sloane's expert opinion was admissible to assist the trier of fact.' The court of appeal then explained that, 'as a matter of law, Stewart and his agents could not have interfered with the performance of these subcontracts ' [A] contracting party is incapable of interfering with the performance of his or her own contract ' Additionally, the jury concluded Stewart and [plaintiff] PM Group never entered into a binding contract for Stewart's performance. Thus, none of the subcontracts among the plaintiffs and the subpromoters could have been performed.' Upholding the return of the deposit money, the court of appeal concluded that, 'as the trial court observed in its post trial rulings, each defendant was the agent of Stewart and the agent of each other. This being the case, [Stewart's manager, defendant Annie] Challis and Levine were agents of Stewart and agents of each other. Based on Pollack's testimony that each denied they were 'setting him up' for a cancellation before Pollack signed the release [of the deposit funds], the jury reasonably could conclude Challis and Levine each had sufficient involvement in the negligent misrepresentation to warrant imposition of liability.'
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 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.
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.
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.
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.