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Exposure Draft Accounting
It is not news that the proposed new lessor and lessee accounting rules as laid out in the recent exposure draft present a variety of challenges to equipment lessors and lessees. In our experience so far, the bulk of attention has been paid to the implications of the new rules on financial reporting, capital requirements and market acceptance of equipment leasing as a product. This emphasis is understandable ' both lessors and lessees want to know what their books are going to look like, and what effect that new look will have on their need for and ability to raise capital. Further, especially among equipment lessors, there are varying degrees of anxiety over the degree to which equipment leasing will continue to be viable.
Since August, the large lessors with whom we work have concluded that the proposed reporting requirements and the resulting capital issues are not, for the most part, intolerable, and that leasing will remain a viable product. While the proposed rules will exact a price in increased operating costs and marketing uncertainty as lessees reassess their equipment financing decisions, business will not cease, the sky will not fall. On the lessee side, the new rules add some economic friction costs to leasing. Whether such costs are sufficient to drive business away from leasing as a finance option to borrowing or cash remains to be seen, but the emerging consensus among large equipment lessors is that leasing will remain a viable product.
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.
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.
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.
CLE Shouldn't Be the Only Mandatory Training for Attorneys
Each stage of an attorney's career offers opportunities for a curriculum that addresses both the individual's and the firm's need to drive success.
Discovery of Claim Construction and Infringement Analysis May be Compelled Prior to a Markman Hearing
A defendant in a patent infringement suit may, during discovery and prior to a <i>Markman</i> hearing, compel the plaintiff to produce claim charts, claim constructions, and element-by-element infringement analyses.