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Profiting from the Downturn: Bankruptcy Asset Sales
The recent turmoil in the financial markets has caused many businesspeople to actively seek out opportunities in undervalued or distressed assets. Buying assets out of a bankruptcy case represents one of the best ways to profit from financial distress. However, just as there is no typical bankrupt company, there is no typical asset sale in a bankruptcy case. Bankruptcy and distressed company investing, while potentially lucrative, is also complex and oftentimes contentious.
Bankrupt debtors seek to sell assets that range from entire businesses to individual pieces of equipment. Old, worn-out, or obsolete assets are as likely to be on the block as new, freshly purchased or produced materials. The range and quantity of assets sold by debtors means that opportunities abound for purchasers able to quickly and efficiently analyze the value of assets and close transactions. Spectacular tales of outrageous returns realized by so-called vulture investors abound. Less often told are the stories of would-be vultures spending significant time and money chasing deals that end up going nowhere. While it is true that the assets of bankrupt companies can often be purchased for literally pennies on the dollar, the bankruptcy asset purchase process can be challenging and the legal aspects of bankruptcy asset sales place severe demands on any would-be vulture.
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.
CLE Shouldn't Be the Only Mandatory Training for Attorneys
Each stage of an attorney's career offers opportunities for a curriculum that addresses both the individual's and the firm's need to drive success.