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IFA Legal Symposium: Financing Remains Immense Problem for Franchisors
Conversation at the 41st annual International Franchise Association (“IFA”) Legal Symposium in Washington, DC, focused on the challenges that franchisors and franchisees are facing in obtaining financing for continuing operations and expansion, as well as other impacts of the two-year U.S. recession. As the U.S. economy recovers, franchise entrepreneurs and attorneys said that lending has yet to return to corporate America.
The tough funding environment has significant implications for franchise businesses, said a panel of legal and business experts in the keynote panel at the conference. Perhaps surprisingly, the panelists said that the impact of the recession will not be universally negative, because a stronger, smarter franchising industry is poised to emerge from the wreckage. With lenders looking much more carefully at franchise brands and individual franchisees, the weaker operators that were able to obtain funding in the past will not be likely to gain market entry in the future.
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.