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Electronic Balloting Procedures Approved in a Chapter 11 Case
For the first time in history, a bankruptcy court has approved the use of electronic balloting procedures in a Chapter 11 case. The U.S. Bankruptcy Court for the District of Delaware approved electronic balloting procedures in the Pitt Penn Holding Company, Inc., et al. matter.
Cole, Schotz, Meisel, Forman & Leonard, P.A., counsel to the Chapter 11 Trustee, and claims & noticing agent UpShot Services LLC, worked together to devise the balloting procedure using UpShot's SmartSign. This technology allows creditors to vote instantaneously online rather than via the traditional method of completing paper forms sent through the United States Postal Service. Creditors can fill out, electronically sign and submit any document in a restructuring case, including proofs of claim, ballots, W-9 forms, proofs of interest, releases and any other document that requires a physical signature. Documents signed and submitted in this manner are compliant with state and federal regulations regarding electronic signatures, so UpShot SmartSign documents have the same legal standing as an original signature.
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.
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.