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"… [P]ayments owed to a shareholder by a bankrupt debtor, which are not quite dividends but which certainly look a lot like dividends, should be treated like the equity interests of a shareholder and subordinated to claims by creditors of the debtor," held the U.S. Court of Appeals for the Fifth Circuit.

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As the DOJ expands its mismarking inquiries beyond stocks and bonds and into areas like private equity, recent cases illuminate the increasing need for robust internal controls designed to eliminate the incentives for an employee or manager to overvalue assets.

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Firms are struggling to capture compelling business intelligence about themselves. Until recently, most operated with a cadre of legacy operating systems, financial platforms and reporting technologies from different manufacturers that have no mechanism for connecting with each other. The disparate nature of these technologies has exacerbated the struggle to leverage data and display results in a reporting mechanism that helps direct the firm's decision-making.

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Part Two of a Two-Part Article Part One of this article outlined the basic elements of a subordination, non-disturbance and attornment agreement (SNDA), which regulates two competing interests in the same property — tenant's right to possess its premises pursuant to its lease and mortgage lender's security interest in that same premises. Part Two explains the differences between the concepts of "non-disturbance" and "recognition," while contending that lease recognition is more important to the tenant than not having its possession disturbed.

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In Its Motion To Dismiss, Marriott Insisted the Breach Caused No Harm to Its Guests and Attached a Declaration By a Former Government Official Who Wrote: "A U.S. Passport Is Virtually Impossible to Forge Successfully." Marriott is insisting that last year's cyberattack did no harm to its hotel guests, not least of which because hackers cannot use stolen passport numbers.

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Sales of substantially all of a debtor's assets are commonplace in corporate Chapter 11 bankruptcies. The sale is supervised and approved by the Bankruptcy Court. Purchasers desire to know that if the sale is consummated, they will be protected from subsequent attacks on the sale and the sale process and presumably more bidders will participate, resulting in greater returns for the estates and creditors. Issues surrounding the finality of a bankruptcy sale were recently reviewed by the U.S. Court of Appeals for the Eighth Circuit.

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It is easy to understand why many lawyers feel that only certain special individuals are blessed with the qualities necessary to be rainmakers. But almost anyone willing to develop the qualities necessary can become a rainmaker.

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In the face of increasing pressure from online retailers, and declining foot-traffic in malls and other brick-and-mortar locations, distressed retailers like Things Remembered need to act expeditiously to execute going-concern transactions if they are going to survive the market disruption.