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Case Briefs
The Emission of Greenhouse Gases Was Not an Occurrence
The Virginia Supreme Court held in The AES Corp. v. Steadfast Insurance Co., 2011 WL 4139736 (Va. Sup. Ct. Sept. 16, 2011) (“Steadfast“) that an insurer was not obligated to defend or indemnify its insured against a lawsuit alleging that the insured's actions resulted in climate change. The decision was based, in large part, on the fact that the underlying plaintiff alleged that the insured knew or should have known that its emission of carbon dioxide and greenhouse gases would harm the plaintiff. Because the plaintiff alleged intentional conduct ' not a fortuitous event or accident ' the court held that the claim was not covered. There may be more to come, however, as the court has recently allowed a request for rehearing. No date has been set as of press time.
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.