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Arbitration Ruling Is Vacated over Lack of Disclosure
The U.S. Court of Appeals for the Ninth Circuit upheld the vacating of an arbitrator's ruling in a film-industry dispute, due to the arbitrator's 'evident partiality.' New Regency Productions Inc. v. Nippon Herald Films Inc., 05-55224. ('Evident partiality' is based on an arbitrator's lack of disclosure of his or her dealings that could result in potential bias in the arbitration.) Entertainment attorney William Immerman had ruled as arbitrator that producer New Regency owed Japanese distributor Nippon Herald $440,000, plus interest, for a film Nippon Herald had paid for but New Regency failed to deliver under a multi-picture deal. Immerman went on to side with New Regency in that, under a cross-collateralization provision, New Regency should receive recoupment funds, plus interest, that totaled $2.341 million. Immerman hadn't disclosed that, during the arbitration, he had taken a job as senior vice president and chief administrative officer of Yari Film Group, which was negotiating to finance and co-produce a movie being produced by Alexandra Milchan, a New Regency executive and daughter of New Regency CEO Arnon Milchan.
The appeals court noted in part: 'Immerman had a duty to investigate potential conflicts when he accepted a high-level executive position at Yari Film Group while the arbitration was ongoing ' The conflict alleged by Nippon Herald is real and nontrivial.'
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.