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Court Watch
Franchisor's Decision Not to Renew Franchisee's Lease
A U.S. District Court in New Jersey has held that if a franchisor, as sublessor of the lease of the franchised location, elects not to renew its master lease, it may terminate a Franchise Agreement denominated as a Commission Marketer Agreement (“CMA”) that was coterminous with the lease. In Luso Fuel Inc. v. BP Products North America, Inc. CCH Bus. Franchise Guide '14,166 (D. N.J., June 29, 2009), the plaintiff became a gasoline station franchise in July 2007 as the transferee of a prior owner. Since 1970, the defendant franchisor and its predecessor had a ground lease on the station premises that it subleased to its franchisee. The ground lease was to expire in December 2008, unless the defendant renewed it, which it had the right to do “at its election.” The CMA stated that the term of the franchise was subject to the term of the ground lease. In June 2008, the plaintiff was notified by the defendant that the defendant had lost its right to continue its tenancy, and, therefore, the CMA would terminate at the end of 2008. The plaintiff spent a considerable sum of money on the location based, it claimed, on the defendant's assurance that the lease would be renewed.
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.
Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability
This article explores legal developments over the past year that may impact compliance officer personal liability.