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Dealer Protection Statutes Level the Playing Field for Heavy Equipment Dealers
Dealers who sell and lease expensive heavy equipment, and therefore those who finance them, are often at the mercy of the manufacturers whose products the dealers sell or lease. Disparities in bargaining power between a local equipment dealership and a national or international manufacturer can force the dealership to accept unfair or oppressive terms. And if the manufacturer arbitrarily terminates the dealership agreement, the thriving business that the equipment dealer built can be totally ruined, often with little or no legal recourse, thereby also putting those who finance the dealer at peril.
Recognizing the need to level the playing field, some states have enacted laws to protect equipment dealers from arbitrary cancellation of dealership agreements. These laws often cover dealers in equipment and machinery used in the construction, forestry, maritime, mining, and other industries. Several states ' Virginia, Delaware, Georgia, Maryland, Mississippi, Tennessee, and West Virginia ' have laws that prohibit a manufacturer from terminating an equipment dealer without good cause and an opportunity to cure. Garner, 2 Franchise and Distribution Law and Practice, '16:5 (Thompson/West 2005). These dealer protection statutes take various forms. Some states require manufacturers to repurchase the dealer's inventory after termination; others require the manufacturer to compensate the dealer for the value of its premises. Id. In one form or another, '[t]hirty-five states have statutes protecting dealers in farm equipment and similar heavy equipment.' Id.
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.
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.
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.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.