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Case Briefs
The Ongoing Debate Regarding Recoupment of Defense Costs
On Aug. 17, 2010, the Supreme Court of Pennsylvania issued its decision in American and Foreign Insurance Co. v. Jerry's Sport Center, Inc., No. 88 MAP 2008, 2010 WL 3222404 (Pa. Aug. 17, 2010). The Pennsylvania high court held that when an insurance policy does not expressly provide for recoupment of defense costs, a unilateral reservation of rights letter citing the intent to seek reimbursement does not entitle the insurer to recoup from the policyholder costs the insurer spent defending an underlying suit prior to obtaining a declaratory judgment that no duty to defend existed. The court did not reach the issue of recoupment of indemnity costs in this case. Just a day earlier, however, the U.S. Court of Appeals for the Tenth Circuit in Valley Forge Ins. Co. v. Health Care Mgt. Partners, Ltd., No. 09-1251 (10th Cir. Aug. 16, 2010), predicted that Colorado would allow recoupment of defense costs by insurers, underscoring the ongoing debate on this question throughout the country.
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.
Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability
This article explores legal developments over the past year that may impact compliance officer personal liability.