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The Queen Is Dead, Long Live the Queen?
The automatic stay of 11 U.S.C. § 362 is one of the most important principles of bankruptcy law. It provides crucial breathing space for the debtor to reorganize or liquidate, and avoids the piecemeal dismemberment of the estate's assets. Among other things, it stays “the commencement or continuation … of a judicial, administrative, or other action or proceeding against the debtor that was or could have been commenced before the commencement of the case under this title.” While the scope of the automatic stay's protection is broad, it is generally limited to a debtor.
However, in rare instances, courts have extended stay protection to non-debtors through 11 USC § 105. This is considered extraordinary relief reserved for unusual circumstances, and may be analogized to the inherent power of federal courts under their general equity powers. The high burden to grant this extraordinary equitable relief includes: 1) “danger of imminent, irreparable harm”; 2) “reasonable likelihood of a successful reorganization”; 3) “balancing the relative harm as between the debtor and the creditor”; and 4) “balancing of the public interest in successful bankruptcy reorganizations with competing societal interests.” In re SDNY 19 Mad Park, LLC, 2014 WL 4473873, at *3 (Bankr. S.D.N.Y. 2014).
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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.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.