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<b><i>Voice of the Client:</i></b> What Does 'Different' Mean?
If we say firms need to do something different, what does “different” mean? For as long as I've been in this industry, law firms have been struggling to improve their financial performance. For those of us who were in-house, we know that aggressive cost-cutting measures were generally the first steps that were taken to improve bottom-line performance metrics.
For those firms that weren't serious about cost-cutting before 2008, they likely became converts shortly thereafter. It's no secret that demand for legal services is flat, competition is stiff, and the ability to differentiate is still seemingly elusive. However, relatively recently, my colleagues and I began hearing a consistent message from law firm leadership. They told us that they need to “do something different” as they seek ways to survive and thrive in the ultra-competitive legal industry.
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 ...."