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What's New in the Law
The Ability to Collect Rentals Under Article 2A Finance Leases or Leases with 'Hell or High Water' and/or Waiver of Defenses Provisions
In a recent opinion by a Magistrate Judge, Federal Trade Commission v. IFC Credit Corp., 2008 WL_1001154 (U.S.Dist.Ct. N.D.Ill. April 9, 2008), the court granted a NorVergence assignee's motion to dismiss one count of the FTC's complaint ' seeking to deny enforceability of the floating forum selection clause found in the leases acquired by such assignee (such holding being consistent with the Seventh Circuit's decision in Aliano Bros. as noted in the Forum Selection section below) ' but denied IFC's motions on two other counts. At this very early stage in the lawsuit, the court appears to be quite deferential to the FTC's arguments against IFC. Although IFC argued that the lessees ' small businesses and religious and other not-for-profit organizations ' were not 'consumers' under the Federal Trade Commission Act, the court (indicating that this issue was one of first impression under the FTCA) was inclined to defer to the agency's interpretation of the statute, which interpretation included such lessees as 'consumers.' The court also listed a good number of instances of alleged complicity by IFC in NorVergence's fraudulent scheme sufficient to warrant a trial.
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.
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.
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.