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In the Marketplace
State Bank of Long Island, NY, has signed an agreement with Main Street Bank of Kingwood, TX, for the sale of substantially all of the assets of State Bank's leasing subsidiary, Studebaker-Worthington Leasing Corp. Studebaker will operate as a division of Main Street Bank and continue its national equipment leasing business from its present office in Jericho, NY. Studebaker's senior management, including Kenneth Paston, its Chief Executive Officer, will continue with the company. The sale is scheduled to close in the second quarter of 2008. State Bancorp, Inc. is the holding company for State Bank of Long Island, the largest independent commercial bank headquartered on Long Island.
Aquiline Capital Partners of New York announced that Laird M. Boulden has joined the firm as a senior adviser. Boulden, a long-time member of the commercial finance industry, served most recently as president and Chief Executive Officer of RBS Asset Finance, a subsidiary of Citizens Financial Group. Prior to joining RBS Asset Finance, Boulden was founder and president of RBS Lombard, where he was responsible for the consolidation and integration of the U.S.-based RBS equipment finance businesses within Citizens Financial Group. At Aquiline, a private equity firm investing in financial services, Boulden will be responsible assisting in the evaluation of future opportunities in the commercial and specialty finance sectors.
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.
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.
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.