Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
In the Spotlight: The Impact of Landlord Bankruptcies on Commercial Tenants
The current “Great Recession” has created massive amounts of work (and billable hours) for bankruptcy attorneys. Retailer bankruptcies and store closings (Circuit City, Linens n' Things, et. al.) have resulted in historically high vacancy rates at strip centers and malls, and the worst may be yet to come. Landlords of retail centers anchored by “big box” tenants are especially likely to suffer increases in empty space, resulting deterioration of cash flow, and difficulty in making debt service payments on their mortgages.
Adding to a bad situation is the fact that a large number of commercial landlords refinanced ' and took equity out of ' their properties during 2005-2007 in the midst of the bubble of high valuations. Many of those borrowers signed five-year mortgage notes for which balloon payments become due in years 2010'2012. In the worsening capital environment those landlords will simply not be able to refinance, especially given severely depressed values and their lack of access to additional equity. The result is a glut of “distressed assets” and “maturity defaults.”
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.