Features
A Broadening Consensus to Narrow Asset Forfeiture
The Supreme Court as a whole appears aligned and motivated to review critically federal and state asset forfeiture procedures. In addition, Attorney General Sessions last month restored the federal forfeiture of property seized by state and local law enforcement ("federal adoptions"), but with certain additional safeguards.
Features
Reflections on <b><I>Kokesh v. SEC</I></b>
<b><I>Potential Ramifications of SEC Disgorgement Being a Penalty</b></i><p> <b><i>Part One of a Two-Part Article</I></b><p>In reference to <I>Kokesh</I>, most commentators have focused on the five-year limitations period, which certainly carries important ramifications for the SEC. But as we describe here, the Supreme Court's ruling that "SEC disgorgement constitutes a penalty" has more far-reaching ramifications.
Features
Serving Two Masters: When 'Bankruptcy-Remote' Meets Public Policy
Structured financing transactions make extensive use of entities formed for the specific purpose of reducing the likelihood that assets will be involved in a potential bankruptcy proceeding. Known as "bankruptcy-remote entities," or "BREs," these entities are subject to structures and covenants in financing documents and their own formation documents, which are designed to reduce the likelihood that the BRE will file for bankruptcy protection.
Features
The Fork in the Road: The SEC and Preemption
<b><I>Part One of a Two-Part Article</I></b><p>With the preemption issue pretty well teed up, what do the courts say (to date)? A look at one recent ruling.
Features
The 'Faltering Company' and 'Unforeseen Business Circumstances' Exceptions Under The WARN Act
<b><i>Traps for the Unwary or Lifesavers for the Unlucky?</b></i><p>The WARN Act contains several affirmative defenses that provide employers with a complete defense to liability under the statute when a company's exigent condition forces an immediate cessation of operations. This article identifies the key features (including the benefits and drawbacks) of each.
Features
Quarterly State Compliance Review
This edition of the Quarterly State Compliance Review looks at some legislation of interest to corporate lawyers that went into effect between May 1 and July 1, as well as some recent cases of interest from the courts of Delaware, Michigan, and Texas.
Features
Compensation Plans: Director-Specific Limits
A recent decision by the Delaware Court of Chancery serves as a reminder that boards of directors of Delaware corporations should consider amending their companies' director compensation plans to include specific limits on the amount of compensation that a director may be awarded in a given year, and obtaining stockholder approval of such compensation plans.
Features
What Can We Tell About the Trump Administration's Focus on Compliance?
There are a few early signs that the Trump administration will continue to hold companies to the “way of compliance.” But after the first five months of his presidency, there are still questions about where enforcement is heading in specific compliance areas.
Features
Does the Auxiliary Aids Standard Apply To Websites?
<b><i>Gil v. Winn-Dixie Stores, Inc.</b></i><p>After years of demand letters, complaints and settlements, a website accessibility lawsuit under Title III of the Americans with Disabilities Act finally went to trial. The case is remarkable not just because it is the first of its kind to go to trial, but also because the court's opinion does not consider whether a website owner can employ alternatives other than WCAG 2.0 to make website content "accessible."
Features
Antitrust Corporate Dispositions
This article provides critical background on DOJ policy and practice, and highlights some of the steps corporate counsel can take during leniency or plea negotiations to secure non-prosecution protection for the company's employees as part of any antitrust corporate disposition.
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