New York Law Journal | Analysis
By Carlos J. Cuevas | December 4, 2019
An egregious willful violation of the automatic stay can be traumatic. Courts should award emotional distress damages when a debtor has been traumatized by an egregious willful violation of the automatic stay.
New York Law Journal | Analysis
By John C. Coffee Jr. | November 20, 2019
Mutual funds have become significant investors in IPO financings, typically seeking two types of provisions: (1) redemption rights that allow them to escape (possibly if the IPO is delayed), and (2) a pricing "ratchet" that entitles them to additional shares in the event that the IPO prices below the valuation reflected in the final private-equity round. With WeWork's recent spectacularly failed IPO as an example, John C. Coffee Jr. discusses ratchet provisions in this month's edition of his Corporate Securities column.
New York Law Journal | Analysis
By Philip M. Berkowitz | November 13, 2019
2019 has been a year of increased regulatory scrutiny of banks' and other financial institutions' whistleblower investigation protocols and codes of conduct. Two recent enforcement actions present extraordinary cautionary tales. As Philip M. Berkowitz discusses in his Employment Issues column, each of these matters involved individuals with high level compliance responsibilities, who apparently made very bad decisions, which resulted in enormous monetary and reputational damage to their employers as well as themselves.
New York Law Journal | Analysis
By David A. Katz and Laura A. McIntosh | October 30, 2019
The slight but noticeable growth of the nascent movement against the use of environmental, social, and political factors in corporate decision-making is an early warning signal to CEOs and directors that a challenge in coming years will be to manage divisive political issues without alienating large groups of stakeholders. In their Corporate Governance column, David A. Katz and Laura A. McIntosh write that this is likely to be an increasingly difficult task.
New York Law Journal | Analysis
By Corinne Ball | October 23, 2019
In her Distress Mergers and Acquisitions column, Corinne Ball discusses a decision that addressed the scope of the channeling injunction contained in W.R. Grace's plan of reorganization, and specifically, whether the channeling injunction enjoins a state-court lawsuit against one of W.R. Grace's insurers. Importantly, it also addresses a bankruptcy court's jurisdiction, a rationale that would extend beyond asbestos provisions and reach channeling injunctions used in other circumstances.
New York Law Journal | Analysis
By Elliot Pisem and David E. Kahen | October 16, 2019
In their Taxation column, Elliot Pisem and David E. Kahen address two recent items of Treasury and IRS guidance relating to market-induced changes and their potential tax impact on owners of financial instruments, non-debt contracts and cryptocurrency: the change from the commonly used LIBOR rate to other reference rates in debt instruments and non-debt contracts, and "hard forks" in cryptocurrency where new units of cryptocurrency are received.
New York Law Journal | Analysis
By Joseph M. McLaughlin and Shannon K. McGovern | October 9, 2019
In their Corporate Litigation column, Joseph M. McLaughlin and Shannon K. McGovern discuss the recent pair of federal court decisions—'House v. Akorn' and 'Scott v. DST Systems'—which highlight courts' willingness to probe supplemental disclosures to ascertain whether shareholders received a material benefit warranting an award of attorney fees, as part of a settlement or otherwise.
New York Law Journal | Analysis
By Barbara M. Goodstein | October 2, 2019
In her Secured Transactions column, Barbara M. Goodstein discusses a recent Seventh Circuit decision in which the court reversed the lower court and held that a UCC-1 collateral description with nothing but a cross-reference to an unattached security agreement did "sufficiently indicate" the collateral for purposes of UCC Article 9.
New York Law Journal | Analysis
By David A. Katz and Laura A. McIntosh | September 25, 2019
In their Corporate Governance column, David A. Katz and Laura A. McIntosh write: The short-term/long-term, shareholder/stakeholder debate is likely to become more intense, and more political, in the near future. As the landscape of corporate governance shifts around them, companies should seek firm ground on a foundation of business success by creating and implementing a strategic plan over a time horizon that will maximize both growth and profitability.
New York Law Journal | Analysis
By Philip M. Berkowitz | September 11, 2019
In his Employment Issues column, Philip Berkowitz discusses issues surrounding global workplace harassment investigations. Because U.S. anti-harassment policies were engineered for the U.S. at-will employment environment, simply exporting these tools into overseas investigations may cause problems. American companies must consider local law and custom overseas before carrying out an investigation—just as we would expect an overseas-based company to do prior to carrying out an investigation in the United States.
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