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Uncharted Courses
On Sept. 14, 2005, Delta and Northwest Airlines filed Chapter 11 cases, putting four of the seven then-existing major U.S. airlines at that time in Chapter 11 simultaneously (United and U.S. Airways were also in Chapter 11 then). One factor that dictated the timing of Delta's and Northwest's cases was beating the effective date of the major Bankruptcy Code Amendments (the BAPCPA), which applied to all cases filed on or after Oct. 17, 2005.
Although it faced many similar issues in 2005, American Airlines chose not to join its competitors in pre-BAPCPA filings. However, citing competitive disadvantages in its cost structure (as well as high fuel prices and customer pressures), American did file Chapter 11 on Nov. 29, 2011.
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.
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.