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Strategies for Responding to the Financially Distressed Auto Dealership
In the past, an automobile dealer filing for bankruptcy was likely the result of poor management, fraud, or declining sales because of a less-than-desirable facility or a depressed market area. Today, the current economic and credit crisis has changed the dynamic, and otherwise viable dealers in important markets are struggling.
Because the financial distress is network-wide, how manufacturers respond to the financially distressed dealership is more important than ever. Strict enforcement of operating standards, enforcing terminations, opposing proposed sales, terminating or suspending floor lines, repossessing inventory, and aggressively pursuing collection actions are established strategies. But today, the impact of those strategies on the larger dealer network and the brand need to be considered. For some dealerships, the appropriate strategy may be creative cooperation forbearance agreements, operating stipulations, and workouts ' not adversarial enforcement.
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.