Europe's Reaction Against the SOX Anonymous Whistleblowing Rule
July 31, 2006
The audience of multinational corporations required to comply with SOX and EU data-protection laws ' whether in e-commerce or bricks-and-mortar operations ' can only watch, do their best to implement anonymous whistleblower mechanisms in compliance with both SOX and EU privacy law, and wait until the contest is decided.
Overseas Court Decisions Limit U.S. Internet Speech
July 31, 2006
Australian, English and Canadian court rulings associated with defamatory Internet communications emanating from the United States may limit American speech, a specter that stands to cast a long, haunting shadow over a range of U.S.-based activities, from publishing to online auctions to discussion and criticism.<br>For jurisdictional purposes, Internet publications may be subject to worldwide legal difficulties. Using common law theory, foreign courts have found American Internet publishers liable for harm to readers located in foreign jurisdictions, and have subjected those publishers to foreign-liability law, even though American law holds the sender immune from liability.
Tools to Save Time That You Do Not Have
July 31, 2006
Today, it seems that anyone involved in e-commerce must be online and available, all the time. You know how it is because you live it: Blackberries and Internet-enabled cell phones provide instant delivery of e-mail, wherever you may be ' whether working, or spending time with family and friends. Online etiquette seems to require that you reply instantly, regardless of your other responsibilities or non-work-related activity in which you may be engaged.<br>For most of us, constant connectedness is no longer just a way of life ' it's a job requirement, and the only way to survive. The quick e-mail reply can become the difference between keeping and losing a client and, ultimately, between sanity and burnout. Everyone in our world scrambles to save time ' even a few minutes here and there ' to satisfy client expectations. Only after those obligations are met, if ever, can we perhaps hoard a few minutes for ourselves.
Ordinary-Course Preference Defense
July 31, 2006
Congress' one-word change to the ordinary course of business preference defense will make this already common preference defense even more prevalent. The Bankruptcy Abuse Prevention and Consumer Protection Act's ('BAPCPA') substitution of an 'and' for an 'or' to the defense's elements should significantly assist the typical unsecured creditor in defending a preference claim, and, in most cases, enable the creditor to defend the claim without an expert witness.
The Leasing Hotline
July 31, 2006
Highlights of the latest commercial leasing cases from around the country.
An Appealing Proposition
July 31, 2006
Let's face it, bankruptcy can be frustrating, not to mention costly and lengthy. First is the sober reality that in almost all cases, creditors ' and unsecured creditors especially ' will not be paid in full. Second is the fact that making sure your client's rights are protected, and recoveries maximized, takes time, money, and involvement in the bankruptcy process, all of which can be disruptive to its ongoing operations. The frustration factor, however, reaches its zenith with bankruptcy appeals. Unlike 'normal' appeals in state and federal courts, bankruptcy appeals provide for two levels of automatic appeal. Bankruptcy orders are first appealed to the district court or, in certain jurisdictions, to the bankruptcy appellate panel (BAP), and thereafter each party has the automatic right to appeal anew to the circuit court.
Multiple Debtor Representation
July 31, 2006
The complex structure of modern corporate entities presents unique challenges when it comes time for a Chapter 11 filing. In addition to facing the fundamental questions of whether Chapter 11 is the right course, when it should be filed, and what the ultimate reorganization strategy should be, management and its counsel must grapple with how to manage a multiple debtor filing. For example, which entities should file? How should the filings be timed? How can the separate interests and obligations of each entity be respected and yet be coordinated in such a way as to make reorganization of the overall enterprise manageable from a practical standpoint? The widely accepted approach is to implement an essentially simultaneous filing on behalf of most or all of the entities in the corporate family. In the interest of efficiency and cost control, a single set of debtors' counsel most often represents all the filing entities, with each of the individual cases jointly administered under a common umbrella.
China's Industrial Policy ' Not its Currency Policy ' Threatens American Competitiveness
July 31, 2006
Over the last 6 months, China has embarked on a series of economic policies that, taken together, shed light on what may be the beginnings of an industrial policy aimed at increasing competitiveness in high-technology industries. Surprisingly, this effort has all taken place without much notice inside Washington, where politicians exaggerate the effect of China's overvalued currency on U.S. competitiveness while ignoring a possibly more profound transition in the Chinese economy.
