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In the Courts
District Court for the District of Columbia: Criminal Contempt Proceedings Not Appropriate
On Nov. 21, 2011, Judge Emmet G. Sullivan of the United States District Court for the District of Columbia announced the highly anticipated results of a special investigation into prosecutorial misconduct during the trial of the late Sen. Theodore F. Stevens (R-AK). In Re Special Proceedings, — F.Supp.2d—, 2011 WL 5828550 (D.D.C. Nov. 21, 2011). In 2008, Sen. Stevens was found guilty of making false statements in violation of 18 U.S.C. ' 1001(a)(1) and for failing to make required disclosures of gifts in Senate Financial Disclosures ' 1001(a)(2). Id. at *1. Following his trial and conviction, the Department of Justice (DOJ) acknowledged prosecutorial misconduct, including instances of failure to provide exculpatory evidence to the defense in violation of the government's obligations under Brady v Maryland, 373 U.S. 83 (1963) and Giglio v. United States, 405 U.S. 150 (1972). Id. In April 2009, the DOJ moved to set aside the verdict and dismiss the indictment.
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.
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.
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.
Second Circuit Reinforces Bankruptcy Code Settlement Payment Safe Harbor
The Second Circuit affirmed the lower courts' judgment that a "transfer made … in connection with a securities contract … by a qualifying financial institution" was entitled "to the protection of ... §546 (e)'s safe harbor ...."