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News Briefs
Bennigan's Tries to Salvage Franchises While Firm Heads into Bankruptcy
Metromedia Restaurant Group surprised the franchise industry by filing for Chapter 7 bankruptcy on July 29 on behalf of one of its restaurant franchise subsidiaries, S&A Restaurants Corp. (“SARC”). Within two weeks, SARC, the former franchisor of Bennigan's, was moved out of the picture in favor of S&S GP Holdings (“SAGP”), which is now operating the franchise system. SAGP's officers were appointed by Atalaya Capital Management LP, which was the largest holder of SARC secured debt when the bankruptcy occurred. The new entity, Bennigan's Franchising Company L.P. (“BFC”), now supports the 81 U.S. and 52 non-U.S. franchise units, according to Alex Stockham, a vice president for Rubenstein Associates, who is responding to media inquiries for BFC.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
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.
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.
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.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.