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<b>Decision of Note: </b>Audit Clause Sinks Allman Brothers' Royalty Claims
The U.S. District Court for the Southern District of New York decided that a breach-of-contract suit by the Allman Brothers Band (ABB) alleging royalty underpayments from Jan. 1, 2000 through Dec. 31, 2003, was barred by the limitations provision of the band's recording agreement. Allman v. UMG Recordings, 06 Civ. 8327.
The district court first examined a provision in the recording agreement that stated that all royalty statements were binding on the band 'unless specific objection, in writing, stating the basis thereof, is given to UMG within two (2) years from the date rendered.' The court found this to be 'an enforceable incontestability provision' that barred the ABB's claims to all but one of the six semi-annual statements challenged.
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.
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.
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.