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Underground Storage Tanks
There are over a half-million underground storage tanks in the United States containing petroleum or other substances that are subject to federal regulation. This is in addition to the countless underground and above-ground tanks storing heating oil or other substances that are not subject to federal oversight. These tanks have been the focus of major federal and state environmental legislation over the last three decades. Among other things, this legislation has given rise to financial responsibility requirements that continue to drive the market for insurance for certain classes of tanks.
The patchwork of federal and state legislation aimed at regulating storage tanks, and what happens in the event of a release, is far too broad a topic to address in a single article. Rather than attempting to discuss each of the relevant issues, this article will provide a brief overview of the federal regulatory system and how this system affects the insurance market. This article also explores some of the issues that often arise in the context of insurance coverage for underground storage tank releases, both for dedicated tank policies and under homeowners insurance.
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.