Legal Research

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Subscription required for online access unless otherwise noted:International Environmental Law
Thursday, December 24, 2009
By Stephen L. Kass

" Stephen L. Kass, a partner at Carter Ledyard & Milburn and an adjunct professor of international environmental law at Brooklyn Law School, writes: Representatives from 193 nations, the United Nations and several thousand NGOs descended on Copenhagen in early December to try to agree on a coordinated international strategy to limit global climate change and help the most vulnerable nations adapt to its now inevitable impacts. I attended the second week of the conference, eager to see whether, after 17 more years of climate science since the United Nations Framework Convention on Climate Change was first adopted, international negotiations, pressure from NGOs at home and abroad, and a more enlightened U.S. administration, the world was ready for effective long-term action on climate change. The answer at Copenhagen was: not yet, but almost."

OUTSIDE COUNSEL:

New York Needs a Residual Exception to the Hearsay Rule
Thursday, December 24, 2009
By Arthur M. Diamond

" Arthur M. Diamond, a Supreme Court Justice sitting in Nassau County, writes: I think all trial lawyers will agree that there are times when courts' strict adherence to evidentiary rules works an injustice to one party or the other. I came across just such a case recently, one which provides a very good illustration of why the rule that a witness' prior inconsistent statement may only be used to impeach that witness and may not be offered as evidence in chief to prove a fact in issue needs to be re-evaluated."

CORPORATE UPDATE:

Distressed Mergers and Acquisitions
Thursday, December 24, 2009
By Corinne Ball

" Corinne Ball, a partner at Jones Day, writes: The past year has been extraordinary for distressed M&A. Although 2009 will be remembered as the year of mega-363 sales in Chrysler and General Motors, 2009 also saw a unique twist in Lehman, and multiple cases, including Delphi and Metaldyne, giving rise to the "collective action" doctrine. Lyondell set the record for compensating prepetition lenders extending new credit as rollover debtor-in-possession financing, Charter broke new ground on reinstatement of prepetition debt, and Tousa voided the 'savings' provision used in many complex enterprise financings to insulate upstream guaranties from fraudulent conveyance attack. Finally, responsibilities of the board of a troubled company as established in North American Catholic provided the key support for a critical decision in General Growth Properties and will likely be revisited in the Capmark chapter 11 case."