Expert Analysis

• ABA Opinion Should Help Clarify Which Ethics Rules Apply

  

  A recent American Bar Association opinion provides key guidance on interpreting ABA Model Rule 8.5's notoriously complex choice-of-law analysis — and should help lawyers authorized to practice in multiple jurisdictions determine which jurisdiction's ethics rules govern their conduct, say attorneys at HWG.

• How Crypto-Friendly Bank Failures Will Change Tech Industry

  

  The recent failures of Silicon Valley Bank, Signature Bank and Silvergate Capital are likely to result in significant shifts in how the global tech industry and its financial partners address legal, compliance, regulatory and business risks, says Erin Bryan at Dorsey & Whitney.

• 4 Ways To Reboot Your Firm's Stalled Diversity Program

  

  Law firms that have failed to see real progress despite years of diversity initiatives can move forward by committing to tackle four often-taboo obstacles that hinder diversity, equity and inclusion efforts, says Steph Maher at Jaffe.

• Opinion

  'Day-In-Court' Ideal Is Distracting From Victim Recovery

  

  As the number of high-profile, mass tort claims rises, preserving a few victims' right to a day in court should not permeate discussions — the overriding objective should be securing a collective of meritorious claimants the largest recovery possible on the shortest timeline, often through bankruptcy, says Samir Parikh at Lewis & Clark Law School.

• Top Questions, And Lessons, After Banking's Wild Weekend

  

  While regulators alleviated some immediate concerns related to Silicon Valley Bank and Signature Bank, even companies with minimal exposure to the failed institutions should monitor unfolding policy changes, cash management issues and increasing scrutiny on risk disclosures for public companies, say attorneys at Morgan Lewis.

• DOJ's Google Sanctions Motion Shows Risks Of Auto-Deletion

  

  The U.S. Department of Justice recently hit Google with a sanctions motion over its alleged failure to preserve relevant instant-messaging communications, a predicament that should be a wake-up call for counsel concerning the danger associated with automatic-deletion features and how it's been handled by the courts, say Oscar Shine and Emma Ashe at Selendy Gay.

• How Companies Can Use Gov't Funding Amid Bankruptcy

  

  As the risk of economic dislocation continues, a look back at four pandemic-era Chapter 11 cases — including their dismissal and eventual reinstatement — highlights a strategy businesses may use where government conditions financial assistance on an applicant not being in bankruptcy, say Matthew McGuire and Howard Robertson at Landis Rath.

• What To Expect From A Litigation Finance Industry Recession

  

  There's little data on how litigation finance would fare in a recession, but a look at stakeholders' incentives suggests corporate demand for litigation finance would increase in a recessionary environment, while the number of funders could shrink, says Matthew Oxman at LexShares.

• A Look At The Feds' Extraordinary Reaction To SVB Collapse

  

  With the receiverships of two banks in almost as many days, the emerging pattern of regulatory response holds the banking sector as a whole responsible for losses at individual institutions, a scenario that may not end with special assessments to cover Silicon Valley Bank and Signature Bank, say attorneys at WilmerHale.

• Key Considerations For Taxpayers Deducting Crypto Losses

  

  While a recent Internal Revenue Service memorandum is helpful in providing insight into how the agency is considering guidance related to cryptocurrency, questions remain with respect to whether a taxpayer can claim a tax deduction for cryptocurrency losses, say attorneys at McDermott.

• J&J Unit Ch. 11 Case Shows Texas 2-Step May Be Wrong Move

  

  The Third Circuit's recent ruling in the Chapter 11 case of Johnson & Johnson's talc-related damages unit raises new questions about the viability of divisional merger transactions as a means to manage mass tort liabilities through bankruptcy, especially when there is a robust funding arrangement, say attorneys at Mayer Brown.

• Highland Ch. 11 Remand Reinforces Gatekeeping Availability

  

  A Texas bankruptcy court recently weighed in on the Highland Capital matter on remand, highlighting the viability of gatekeeping provisions and their broad potential scope even in those circuits, like the Fifth Circuit, that have limited the availability of exculpation for third parties, say attorneys at Orrick.

• Bankruptcy Ruling Affirms High 9th Circ. Evidentiary Standard

  

  A California bankruptcy court’s recent ruling in the Mariner Health matter shows that practitioners seeking extraordinary relief from any court should present a complete record, and that nondebtor parties in the Ninth Circuit should be aware that a proper evidentiary record and the relief sought may be illusory, says Brian Shaw at Cozen O'Connor.

• FDCPA Ruling Clarifies Bankruptcy-Related Case Precedent

  

  For debt collectors and their counsel, a Puerto Rico federal court's recent decision in Carrasquillo v. CICA Collection Agency serves as a shield to potential Fair Debt Collection Practices Act claims in circumstances where a collector doesn't have knowledge of a consumer's bankruptcy filing, say attorneys at Troutman Pepper.

• Justices Leave Questions Open On Dual-Purpose Atty Advice

  

  The U.S. Supreme Court's recent dismissal of In re: Grand Jury on grounds that certiorari was improvidently granted leaves unresolved a circuit split over the proper test for deciding when attorney-client privilege protects a lawyer's advice that has multiple purposes, say Susan Combs and Richard Kiely at Holland & Hart.