May 31, 2012

Inside Business Law

Focus on the Commercial Finance and Uniform Commercial Code Committees

The Spring 2012 issue of the Commercial Law Newsletter, published by the Commercial Finance and Uniform Commercial Code Committees, contains a wealth of timely and outstanding content. The newsletter's many significant articles include:

  • Lisa Schweitzer and Robin Baik provide a detailed analysis of a recent Second Circuit opinion regarding the statutory requirement for a federal district court to abstain from hearing state law claims that are related to a bankruptcy case when those claims can be timely adjudicated in a state court in "Second Circuit Holds District Court Must Mandatorily Abstain From Deciding Parmalat State Court Action Related to U.S. Ancillary Bankruptcy Proceeding."
  • Carol Tello provides an excellent summary of recent regulations proposed by the IRS regarding the Foreign Account Tax Compliance Act in "FATCA Proposed Regulations Confirm Revolving Credit Facilities Covered By 'Grandfather' Provision."
  • Thomas S. Hemmendinger, Kieran Marion, and R. Wilson Freyermuth have authored an important update entitled "Uniform Law Commission's Study Committee on Real Estate Receiverships: Project Update and Request for Comments," and they need your help! Here's the background: in 2011 the Uniform Law Commission established a study committee to review whether a Uniform Act on the appointment and powers of real estate receivers would be appropriate and well-accepted by U.S. states. The study committee has identified seven broad issue areas. The linked update describes those seven areas and, if you have relevant knowledge, seeks your input. If you have input, please contact these authors and share it with them!

Community Economic Development

The Spring 2012 Community Economic Development Committee Newsletter is out, and contains some fabulous content:

Private Equity and Venture Capital Update

If your practice includes private equity and venture capital transactions, you won't want to miss the Spring 2012 edition of Preferred Returns, the newsletter of the Private Equity and Venture Capital Committee. This most recent edition provides summaries of M&A and capital markets trends in " 2011 Market Overview," venture capital trends in the life sciences sector in "Trends in Terms of Venture Financings for the Life Sciences Sector (Fourth Quarter, 2011)," and other superb articles, including:

Class Actions and Stockholder Derivative Suits for Boards of Directors

Class action and stockholder derivative suits present companies with the real potential of significant monetary damages and major changes to corporate governance structures, and the wise corporate counsel knows that one of the best ways to avoid and deal with such challenges is through educating the board of directors. To help with such education, this critical compendium of recent trends and case law related to both class action and stockholder derivative suits is an essential tool: "A Spoonful of Sugar: Educating Boards of Directors About Class and Derivative Action Exposure, Avoidance and Procedure." 

Contemporary Ethical Dilemmas in Client and Practice Development

Today's media- and technology-rich environment has greatly expanded the potential for attorney networking, advertising, and business development. How exactly can business lawyers rely on this new technological paradigm to grow their practice while remaining within the bounds of existing ethics regulations? For a thoughtful, provocative answer to this question, be sure to check out the Career and Practice Development Committee's presentation from the Business Law Section's Spring 2012 meeting entitled "Saints and Sinners: Ethical Issues and Dilemmas in Client and Practice Development."