End of an era nears for Delaware courts; defender of powers of directors ponders a life of study, not judging
Article Abstract:
William T Allen's anticipated retirement as chancellor, or chief judge, of the Delaware Chancery Court will end a 12-year era when he presided over many vast struggles for control of the nation's largest corporations. It will also deprive the Delaware judiciary of its most celebrated intellect, one capable of sophisticated reasoning that considered social implications in making decisions. Vice Chancellor Jack B Jacobs, considered less scholarly and more critical of corporate boards, hopes to succeed Allen, who will enter academe.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1996
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Was culture a player in Daiwa's illegal cover-up? Japanese bank's in-house probe carries no weight with prosecutor. Are American businesses treated the same?
Article Abstract:
By building a relationship with their Japanese clients US lawyers may avoid the debacle that engulfed Daiwa Bank, which postponed revealing to US officials a rogue employee's actions. On Feb 28, 1996, the bank agreed to a $340 million criminal fine covering 16 felonies. It only consulted its long-time US lawyers, Sullivan & Cromwell, at the last moment, though it spoke with Japan's Ministry of Finance fully a month before talking with authorities in the US. Lawyers are often out of the loop in Japan's business culture.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
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