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The Dilemma of Liquidated Damages: Even after Default, Fairness Remains a Key Component of Enforceability
A recent court decision striking down the liquidated damages provision of an aircraft lease should cause lessors to rethink (and possibly redraft), their standard remedies clauses.
In AAR International, Incorporated v. Nimelias Enterprises S.A., Vacances Heliades S.A. and Princess Airlines S.A., 2004 WL 2966659 (N.D. ILL.), No. 99 C 8090 (Dec. 1, 2004), the U.S. District Court for the Northern District of Illinois, applying Illinois law, declared the lessor's liquidated damages clause in an aircraft lease as an unenforceable penalty since such calculation both: 1) permitted spontaneous recovery by lessor of both actual and liquidated damages, and 2) did not take into account the early recapture of the leased aircraft and credit lessee with the difference between the estimated residual value at the end of the lease term and the greater value of the aircraft when it was repossessed.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.