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Most client service improvement initiatives fail to produce sustained results. While such a statement may seem harsh, I think that most would agree with the statement based on their own experiences. After investing significant amounts of time, effort, and money in service improvement initiatives, most organizations do not attain the sustained results they were hoping for. Failure is usually not due to a lack of creativity or resources, but most often the result of a lack of long-term commitment to the hard work that sustainability requires. The 'launch' phase of an improvement initiative can be challenging, but it is also energizing. Top management is involved in the launch, frontline employees join improvement teams, and service communication abounds. There are skeptics, of course, but most are hopeful that this time things will actually get better. The launch phase may last several months, or even a year, depending on the organization.
To Google or not to Google is the dilemma plaguing the Florida Bar in its protracted debate over how to regulate law firm Internet sites. <br>Because the Bar Board of Governors deadlocked on proposed new Web site rules at its monthly meeting on Dec. 8 in Key Biscayne, law firm sites are completely unregulated as of Jan. 1. The Board tabled its discussion until this month.
People who republish defamatory content online cannot be held liable for defamation even if they were warned about it, the California Supreme Court ruled, 7-0, late last year.
Features
The continuing drama relating to the demise of the Yukos Oil Company, Russia's leading oil company, has generated two U.S. bankruptcy proceedings that have raised some of the most interesting cross-border insolvency issues in the last year. Both proceedings emanate from the pitched battle between Yukos' management and equity investors, on the one hand ' who assert that the Russian government is expropriating the company for its own benefit in violation of Russian and international law ' and the Russian government and an interim insolvency receiver appointed by a Russian court (the 'Receiver'), on the other hand ' who assert that Yukos' management caused the company to commit a tax fraud of approximately USD $27.5 billion that can only be resolved in a Russian court.
Uniformity among courts on this question has not been and may never be reached. Nevertheless, recent decisions from the Third Circuit, the Delaware Chancery Court, and the Southern District of New York reflect an unmistakable and growing trend toward restricting significantly or even rejecting claims for deepening insolvency. This article describes this emerging trend, and demonstrates that each of these cases reflects an approach that appears to have developed within these respective courts. The common thread underlying these decisions is a concern that recognition of a claim for deepening insolvency would discourage good faith efforts to turnaround a troubled company that qualify for protection under the business judgment rule. This article concludes by identifying serious weaknesses from which deepening insolvency claims suffer in light of these significant rulings.
Features
Investor confidence and market behavior can be impacted greatly by events that do not necessarily correlate. In the case of the Bayou Hedge Funds fraud, these unique and non-recurring events fueled a fire in the hedge fund industry that has spread, but not necessarily due to the particulars of the Bayou Hedge Funds failure. But, when dealing with significant investments made by pension funds, corporate entities, along with foundations and trusts, a healthy dose of skepticism is natural and appropriate. Not unlike the transition from the Enron scandal to the formation of the Public Company Accounting Oversight Board, hedge fund investors may extrapolate the troubles at the Bayou Hedge Funds to all hedge funds. As a result, questions of the need for regulatory oversight for a stronger accountability within the industry arise.
Features
Recent rulings of importance to you and your practice.
Features
The legal fiction of corporate criminal liability may finally get the rewrite it badly needs. Urged by practitioners and academics for decades, arguments for changing corporate criminal liability, if not abolishing it altogether, may now have a receptive audience in Washington.
Features
In this age of regulatory and prosecutorial focus on corporate compliance, companies increasingly are relying on special outside counsel to conduct internal investigations into potential wrong-doing. Sometimes, these investigations are prophylactic: A company may want to understand the consequences of its current hiring prac-tices so it can develop standard operating procedures to better ensure compliance with anti-discrimination laws. Because this sort of pro-active, self-reflective investigation generally proceeds in the absence of outside scrutiny, counsel has the time and space to conduct a deliberate investigation.
