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So many contracts contain the phrase "in accordance with generally accepted accounting principles," but do lawyers really understand what this phrase means or how it may affect a client in any given contract?
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Important rulings of interest to you and your practice.
Because discovery stays can benefit both the prosecution and the defense, each side will continue to request, or resist, them when the need arises. As a result, no significant change in discovery practice in parallel proceedings is likely to come from piecemeal litigation.
Features
On March 2, 2010, the U.S. Supreme Court unanimously held that a franchisee that stays in business cannot sue for constructive eviction under the Petroleum Marketing Practices Act. The Court also decided that a franchisee waives its constructive nonrenewal claim when it enters into a renewal agreement.
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Because prosecutors have a responsibility not merely to win, but to ensure that the defendant has a fair and impartial trial, it is professional misconduct for a prosecutor to intimidate or improperly influence a defense witness to change his or her testimony or to refuse to testify for the defense.
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Taxpayers with unreported foreign bank accounts are sweating bullets these days. The IRS is in the midst of an unprecedented crackdown on foreign bank accounts.
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Last month, we discussed the fact that the The Bankruptcy Code ("Code") has at least nine so-called "safe harbor" (i.e., bankruptcy insulating) provisions for financial contracts. The article concludes herein.
Features
Bankruptcy Rule 2019, an often-ignored pivotal procedural rule in U.S. bankruptcies, has returned to the public eye. This reemergence stems from two recent decisions from the influential Bankruptcy Court for the District of Delaware as well as the controversial pending amendments to Rule 2019 proposed by the Committee on Rules of Practice and Procedure of the Judicial Conference of the United States.
Features
The debate over whether ad hoc or informal committees or groups of creditors or interest holders ("ad hoc committees") must comply with Bankruptcy Rule 2019 recently intensified due to a split among several Bankruptcy Court decisions.