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When Can't a Creditor Credit Bid?
The growing presence of non-traditional lenders has been a noticeable trend in the finance industry for years. Yet these lenders have always played a prominent role in distressed lending. Often, they are industry participants who are not only extending a lifeline to the debtor, but perhaps more importantly, protecting their customer base.
Because of their multiple relationships, these lenders also typically find themselves entangled with the debtor in more ways than just debt financing. And these relationships are not without risk. Other creditors are more than happy to try to convince a bankruptcy judge that a creditor with equity or mercantile connections to a debtor deserves less favorable treatment. Bankruptcy courts are courts of equity. They can impose restraints on a creditor by limiting its right to credit bid, or, even worse, subordinating its claims.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
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.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
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.