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9/11 Award Ruled Separate Property in Divorce Case
An injured firefighter's entire federal September 11th Victim Compensation Fund award constitutes separate property for the purposes of equitable distribution, a state appeals court in Brooklyn has ruled. A panel of the Appellate Division, Second Department, found that even though economic damages are typically considered part of a marital estate, lawmakers intended for both the economic and noneconomic portions of personal injury awards to be designated separate property.
“While the logic of the Equitable Distribution Law ' suggests the conclusion that the economic portion of a personal injury award should be marital property, [the] legislative history compels the contrary result,” Justice Robert A. Spolzino wrote for the unanimous panel in Howe v. Howe, 07-07984, N.Y.L.J., D.O.I. 10/05/09, p. 17. “[T]he inescapable conclusion is that the Supreme Court was correct in determining that the portion of the Victim Compensation award received by the plaintiff that
constitutes compensation for economic loss during the marriage is the plaintiff's separate property.”
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.
Second Circuit Reinforces Bankruptcy Code Settlement Payment Safe Harbor
The Second Circuit affirmed the lower courts' judgment that a "transfer made … in connection with a securities contract … by a qualifying financial institution" was entitled "to the protection of ... §546 (e)'s safe harbor ...."