More Bad News for Structured Finance?
While politicians scramble to preserve <i>Fannie Mae</i> and <i>Freddie Mac</i>, more trouble for financial markets looms on the horizon. Proposed changes to accounting rules for securitization vehicles could decrease the significant role of structured finance in providing the liquidity that sustained recent economic expansion.
Equitable Subordination Still Requires Proof of Harm
The U.S. Court of Appeals for the Fifth Circuit reversed a bankruptcy court's equitable subordination order on June 20, 2008. ccording to the court, subordination of the insiders' secured claims was "inappropriate" because the bankruptcy trustee had failed to show that the defendant insiders' "loans to the debtor harmed either the debtor or the general creditors." This article discusses the repercussions of that ruling.
New York Strengthens Wage Laws
In light of recent aggressive enforcement efforts of New York's Labor Laws by both the New York State Attorney General's Office and the New York State Department of Labor ("NYSDOL"), prudent employers should consider the effect of these new enactments on their pay and leave practices and take action to ensure compliance.
Competing Definitions of 'Mass Layoffs' Under the WARN Act
The Retraining and Notification Act ("WARN" or The Act) creates some uncertainty for employers because it contains two potentially conflicting definitions of the term "mass layoff" ' one that looks to a 30-day period and another that aggregates layoffs over a 90-day period. This article analyzes a recent ruling that addresses the problem.
Retaliation Claims
Part One of this article, which appeared in the June issue of Employment Law Strategist, discussed proof of retaliation claims. The conclusion herein addresses what conduct is protected.
Panel Affirms Award Against Wal-Mart in Disability Bias Case
Staking out an exception to the general rule that the requirement to accommodate is normally triggered by a disabled employee's request, the Second U.S. Circuit Court of Appeals said an employer must take action "if the employer knew or reasonably should have known that the employee was disabled." <i>Brady v. Wal-Mart Stores Inc.</i>, 06-5486-cv.
DIVERSITY DOES NOT MEAN "PREFERENCES
DIVERSITY DOES NOT MEAN "PREFERENCES": In my last post, I described a very surprising reaction from a well respected AGC about diversity meaning preference. Again, I do not believe he is racially or gendered biased. But he appears not to be receptive to the message that diversity and business development consultants deliver about the need to foster a nurturing environment that will increase female and minority retention rates. He believed that diversity initiatives involve preferences.…
IS DIVERSITY A PREFERENCE OR A VALUE ADDED? II.
A SURPRISE EXAMPLE - Recently, I was genuinely surprised by a most well respected Associate General Counsel of a global corporation. This lawyer was huffing and puffing because his colleague at a competitor company had received an accolade from the local newspaper praising her as one of the tope in-house counsel in the region. The award itself as well as the press coverage focused in large measure on her outstanding record in recruiting women and…
