Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
A Quagmire of Obligations
Pending in bankruptcy court in Corpus Christi, TX, is In re ASARCO, LLC, et al., the largest environmental bankruptcy case ever filed. Founded in 1899, ASARCO had diverse mining, smelting, and refining operations across the country. Unfortunately, ASARCO's 108 years of operation left a legacy of environmental liability spanning roughly 94 sites in 21 states. As a result, the United States, 16 states, and 73 private potentially responsible persons (PRPs) asserted more than $6 billion in environmental claims against ASARCO's bankruptcy estate.
At present, ASARCO is concluding the estimation of such claims for purposes of allowance (not just for plan voting or feasibility) at more than 30 sites. The estimation proceedings involve numerous unsettled issues arising at the intersection of the Bankruptcy Code and environmental law, including the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). The Bankruptcy Code is premised on granting the debtor a discharge of its pre-bankruptcy obligations while CERCLA was enacted to ensure PRPs are held accountable for the cleanup of contaminated property. When a PRP becomes a debtor, courts struggle to reconcile the competing objectives of these comprehensive statutes.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
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.
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.
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.