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Mandatory Arbitration of GM and Chrysler Dealer Terminations
In 2009, Chrysler and General Motors declared bankruptcy and terminated almost 2,000 of their dealers as part of overall restructuring. The dealers turned to Congress for relief. Congress responded by passing a bill, signed into law on Dec. 16, 2009, providing for mandatory arbitration for dealers seeking reinstatement.
Congress set aggressive deadlines for finishing the arbitrations. By Jan. 15, 2010, Chrysler and GM had to provide terminated dealers with the criteria used to terminate them. Dealers had until Jan. 25 to decide whether to invoke arbitration to contest the termination. Congress designated the American Arbitration Association (“AAA”) to administer the arbitrations and required that the hearings be held in the dealer's state. Only limited document discovery was allowed, and each party was responsible for its costs and fees. All arbitrations had to be completed by June 14, 2010, which arbitrators could extend for 30 days for good cause.
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.