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<i> 'Momentive'</i> Provides a Reminder About Intercreditor Agreements
The growth in mezzanine and junior financing has spawned a rise in litigation over lien intercreditor agreements ' agreements between creditors that govern their relative rights and remedies with respect to shared collateral.
These often intensely negotiated, and sometimes poorly drafted, documents have continued to confound courts, motivating such professional groups as the American Bar Association to encourage the market toward more standardized terms. See Alan M. Christenfeld and Barbara M. Goodstein, “New ABA Model Intercreditor Agreement Offers Guidance,” N.Y.L.J., Aug. 5, 2010. The migration of intercreditor arrangements from “silent seconds” heavily favoring first lienholders to a more complex balancing of rights and obligations between creditor groups has also placed greater pressure on document drafters.
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.