Limiting the Effect of BAPCA
April 27, 2007
This article first discusses <i>In re Dana Corp.</i>, 351 B.R. 96 (Bankr. S.D.N.Y. 2006)(<i>'Dana I'</i>), in which the Southern District of New York bankruptcy court denied a debtor's proposed employee 'incentive' program. The article then highlights the differences between the program proposed in <i>Dana I</i> and the program approved by the Southern District of New York in <i>In re Dana Corp.</i>, 2006 WL 3479406 (Bankr. S.D.N.Y. 2006) (<i>'Dana II'</i>). Finally, this article proposes options other than those utilized in the foregoing cases that might be available to bankruptcy practitioners in need of a way to ensure that their clients' top executives do not walk out the door.
Ad Hoc Committee Disclosure Requirements
April 27, 2007
An essential part of the Chapter 11 process is constructive dialogue and negotiation among all stakeholders involved in the bankruptcy case with a view toward building a consensus on the terms of a confirmable Chapter 11 plan. The Bankruptcy Code establishes a framework to promote such interaction by providing for the appointment of official committees of creditors and shareholders entrusted by statute with the duty to participate in the formulation of such a plan.
Associate Costs from the Viewpoint of In-House Counsel
April 27, 2007
In late January, Simpson Thacher & Bartlett LLP announced that it was hiking its first-year associate pay to $160,000. Since then, the legal press has noted that an increasing number of firms in every major legal market plan to follow suit.
Partnership Investments
April 27, 2007
With profits per partner continuing to rise, many attorneys have more discretionary income available for investment. In addition to investing directly in both traditional and nontraditional sources, some partners may choose to invest (either inside or outside their law firms) in opportunities that arise in the law firm setting.
Valuing the Closely Held Business
April 27, 2007
Aside from the many important and critical issues involving children and family, the valuation of a closely held business or professional practice may be one of the most significant issues a practitioner will face when resolving the financial aspects of matrimonial matters. In that regard, one of the most important aspects that the valuator is confronted with is the establishment of a reasonable level of replacement compensation to assign to the owner in the valuation of an ownership interest.
Compensating the Rising Star
April 27, 2007
A young, dynamic partner is rapidly building a practice. She is active, visible, and well connected in the market. She aggressively pursues business opportunities. She is known for her keen intellect, is highly respected, and her work is first rate. Clients regularly comment on her ability to seamlessly blend pragmatic legal and business advice that advances their agendas in very positive ways. Other firms have periodically made runs at her beginning around her mid- to-senior associate years, but she began her career here and feels much attached to the firm.
News Briefs
April 27, 2007
Highlights of the latest franchising news from around the country.
Antitrust Scrutiny of Lyme Guidelines
April 27, 2007
A state attorney general's novel investigation into the development of treatment guidelines for Lyme disease should put health care and professional medical societies on alert to a possible new front in antitrust litigation, say antitrust lawyers and others. Connecticut Attorney General Richard Blumenthal late last year issued a subpoena to the Infectious Diseases Society of America (IDSA) for information on how it established its latest guidelines on the diagnosis and treatment of Lyme disease ' guidelines that were subsequently adopted by the Centers for Disease Control and Prevention (CDC). While IDSA has responded to the subpoena, Blumenthal said his investigation is ongoing. 'We've reached no conclusion,' he said.
How New Technology Reduces the True Cost of e-Discovery
April 27, 2007
For years, technology has been used to improve the efficiency of countless business activities and functions. Recently, a number of technology tools have emerged that enable companies to do the same with their electronic discovery process.