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Inside the New GM Dealer Agreements
Automakers Chrysler and General Motors changed the history of dealer relations when they stepped through dozens of state laws and regulations and terminated thousands of long-standing dealers through the power of the Supremacy Clause of the U.S. Constitution and the U.S. Bankruptcy Code. Now that they have emerged from bankruptcy, history remains to be written on the intriguing issues of whether GM will be able to make its new, bold agreement, heavily weighted in GM's favor, stick in the face of state dealer laws.
Prior to bankruptcy, both carmakers complained that their dealer networks had swollen to the point of being expensive and cumbersome. They wanted fewer, bigger dealers ' a trend that has been going on in the farm and heavy equipment industries for years. Dealers, however, were protected by state statutes in all states but Alaska. These dealer statutes typically protect the dealer from termination or non-renewal without good cause (meaning the dealer's deficiency), prior notice of that deficiency, and a reasonable opportunity to cure. They also protect dealers from unreasonable restrictions on transfer.
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.