Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Concerns for Licensees of e-Commerce Software In Cross-Border Bankruptcies
Insolvency of a multinational corporation with U.S. and foreign assets brings the prospect of complex bankruptcy. A recent case illustrates some concerns a licensee of e-commerce-related software and other intellectual property could have when a foreign licensor files for bankruptcy outside the United States.
Chapter 15 of the U.S. Bankruptcy Code aims to provide a systematic, consistent resolution to cross-border insolvencies by charging federal bankruptcy courts to cooperate with foreign bankruptcy courts and, for the most part, defer to the insolvency laws of the country where the principal case was filed. Undoubtedly, conflicts exist between the U.S. Bankruptcy Code and insolvency codes of other nations. For instance, under '365(n) of the U.S. Bankruptcy Code (11 U.S.C. '365(n), while an intellectual-property licensor may reject an executory contract, such as a software license, that the bankruptcy estate deems burdensome, a licensee may elect to continue paying licensing fees and retain most of its rights under the license. Without licensee protections in '365(n), a bankrupt licensor could reject and terminate the license under '365(a) and auction the rights to another entity, leaving the licensees to either risk legal liability or re-bid for licenses for which they have already paid.
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.
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.
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.