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On the Move
Ray Schrock is joining the Business Finance and Restructuring practice of Weil Gotshal & Manges LLP in New York. Formerly a partner in the restructuring group of Kirkland & Ellis LLP , he represented debtors, nondebtor parent companies, private equity and financial institutions as well as secured and unsecured creditors in restructuring matters. While at Kirkland, Schrock served as lead restructuring partner representing Ally Financial Inc. and Ally Bank and their subsidiaries in the Chapter 11 bankruptcy cases of Residential Capital LLC, the mortgage unit of Ally Financial Inc. He also was one of the lead restructuring partners in the Great Atlantic & Pacific Tea Company Chapter 11 cases filed in 2010, as well as the 2008 prearranged Chapter 11 case of Charter Communications, Inc. ' the fourth-largest cable operator in the United States ' in one of the largest prearranged Chapter 11 cases ever filed, with more than $20 billion in debt and $13 billion in assets.
Reznick Capital Markets Securities, LLC of Baltimore has announced the appointment of Jeffrey R. Manning, CTP , as a managing director. He will lead corporate recovery activities, primarily providing investment banking advice and services for companies operating at, near, or emerging from a restructuring process. Prior to joining Reznick, Manning was a managing director and group head of BDO Capital Advisors' special situations group, and prior to that position, he was CEO of FTI Capital Advisors, FTI's wholly owned investment bank.
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.