Publications - Gibson Dunn

Publications

Our lawyers provide sophisticated analysis, practical guidance and thought leadership on a wide range of topics. We encourage our readers to review this collection of client alerts, articles and white papers and benefit from the authors’ exceptional experience, market knowledge, practiced judgment and singular insights.

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UK Employment and Labour Law — Quarterly Executive Summary (January 2009)

As a result of the current market conditions companies of all sizes and in all sectors are looking at ways of controlling costs. Cost cutting plans will inevitably include ways of reducing employee costs and headcount.

Client Alert | January 28, 2009

Amending Debt Terms – Important Tax Considerations

Recent instability in the debt markets has increased the tax risks associated with amending loan terms.  Proposed amendments to any loan should be examined to determine whether the amendment will result in a deemed exchange of the unmodified debt obligation for the modified debt obligation for U.S.

Client Alert | January 23, 2009

NYSE Temporarily Reduces Market Capitalization Requirement to $15 Million

On January 22, 2009, the New York Stock Exchange LLC (the "NYSE") filed a rule change with the Securities and Exchange Commission (the "SEC") that proposes to temporarily reduce from $25 million to $15 million the average market capitalization required of listed companies under Section 802.01B of the NYSE's Listed Company Manual (the "NYSE Manual").

Client Alert | January 23, 2009

Joint Justice Department and Manhattan District Attorney Investigation Results in Record $350 Million Payment for OFAC Violations

On January 9, 2009, the U.S. Department of Justice (see press release) and the New York County District Attorney's Office  ("NYDA") (see press release) announced that Lloyds TSB Bank plc ("Lloyds") agreed to forfeit $350 million and take other actions to resolve its liability for violating the International Emergency Economic Powers Act ("IEEPA") and U.S.

Client Alert | January 20, 2009

Short Selling Update: Developments from Global Regulators

Responding to market conditions in September 2008, the U.S. Securities and Exchange Commission (the "SEC" or "Commission") and other regulatory and governmental authorities around the globe took dramatic steps to address the market turmoil resulting from potentially manipulative short selling.  The measures released in September 2008 have been updated, particularly in the U.K.

Client Alert | January 19, 2009

Deadline Approaching for the Filing of Customer Claims in the SIPA Liquidation of Lehman Brothers Inc.

The bar date for the filing of customer claims in the SIPA liquidation of Lehman Brothers Inc. is fast approaching. We would like to remind you that claims must be received by the Lehman SIPA Trustee by January 30, 2009 in order to ensure that you maximize your recovery on the claim.

Client Alert | January 16, 2009

Financial Markets in Crisis: Summary Table of Federal Rescue Programs

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | January 15, 2009

Financial Markets in Crisis: Congressman Frank’s TARP Reform Bill

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.

Client Alert | January 13, 2009

Fifteen Years of Antichurning: It’s Time to Make Butter

New York partner Romina Weiss is the author of "Fifteen Years of Antichurning: It's Time to Make Butter" [PDF] published in the January 12, 2009 issue of Tax Analysts.

Client Alert | January 12, 2009

2008 Year-End Hedge Fund Update: Enforcement and Regulatory Developments and Compliance Considerations

I.  Hedge Fund Enforcement Update   A.  Introduction 1.  2008--A Watershed Year in Hedge Fund Enforcement By virtually any measure, 2008 was a watershed year on the hedge fund enforcement front.  Driven by the turmoil that has reshaped our capital and credit markets, enforcement efforts soared to new heights.

Client Alert | January 9, 2009

SEC Reports to Congress on Mark-to-Market Accounting Study

On December 30, 2008, the Securities and Exchange Commission delivered to Congress a report, mandated by the Emergency Economic Stabilization Act, on mark-to-market accounting standards and their application to financial institutions.  The report concludes that fair value accounting standards should not be suspended, but makes eight recommendations to improve their application, including additional guidance for determining fair value in inactive markets.  The report finds that investors generally believe fair value accounting increases transparency and facilitates investment decision-making.  The report also observes that fair value accounting did not appear to play a meaningful role in the bank failures of 2008, but rather that those failures appeared to be the result of gr

Client Alert | January 9, 2009

Labor and Employment Changes Expected in Obama Administration

With the seating of a new Congress this week and the Presidential Inauguration fast approaching, significant changes to a variety of federal labor and employment laws figure prominently on the political agenda.  The labor movement spent hundreds of millions of dollars to support President-elect Obama and elect a near filibuster-proof Senate through which it hopes to enact far-reaching legislation giving unions the upper hand with management so that they can reverse decades of declining membership.  The President-elect and sizeable majorities of the House and Senate also believe that many current employment laws disfavor employees, and that enforcement in the Bush Administration was lax.  Political observers expect employment legislation, regulation, and enforcement to be amo

Client Alert | January 9, 2009

2008 Year-End False Claims Act Update

I. Introduction Today's headlines are riddled with allegations of fraud and fraudulent schemes--against investors, markets, homeowners, individuals, corporations, and the government.

Client Alert | January 8, 2009

2008 Year-End Criminal Antitrust Update

Introduction The dramatic surge in worldwide criminal antitrust enforcement over the last decade continued at a remarkable pace in 2008, with no signs of ebbing on the horizon.

Client Alert | January 7, 2009

A Wider Scope of Primary Liability?

New York partner Mark K. Schonfeld and Dallas associate Akita St. Clair are the authors of "A Wider Scope of Primary Liability?"  [PDF] published online by Law360 on January 7, 2009 at law360.com.

Client Alert | January 7, 2009

2008 Year-End Update on Corporate Deferred Prosecution and Non-Prosecution Agreements

2008 – A Dynamic Year in Corporate Deferred Prosecution AgreementsIn the post-Enron and WorldCom era, the U.S. Department of Justice ("DOJ") often uses corporate deferred prosecution agreements ("DPAs") to resolve federal criminal investigations.

Client Alert | January 6, 2009

Accounting for Climate Impacts Under the California Environmental Quality Act

Los Angeles partner Jeffrey D. Dintzer and associate Margaret A. Farrand are the authors of "Accounting for Climate Impacts Under the California Environmental Quality Act" [PDF] published in BNA Inc.'s Daily Environmental Report.

Client Alert | January 5, 2009

You Do Have A Voice In The Speaker’s Race

Dallas associate Lawrence VanDyke is the author of "You Do Have A Voice In The Speaker's Race" [PDF] published in print and online by the Austin-American Statesman on January 5, 2009.

Client Alert | January 5, 2009

Financial Markets in Crisis: Details of Federal Reserve MBS Purchase Program

The Gibson, Dunn & Crutcher Financial Markets Crisis Group is tracking closely government responses to the turmoil that has catalyzed dramatic and rapid reshaping of our capital and credit markets.We are providing updates on key regulatory and legislative issues, as well as information on legal issues that we believe could prove useful as firms and other entities navigate these challenging times.This update focuses on the Federal Reserve Board's announcement that it expects to begin purchasing mortgage-backed securities (MBS) in early January 2009.On November 25, 2008, the Federal Reserve announced three major new initiatives as follows: The Term Asset-Backed Securities Loan Facility (TALF) -- under which the Federal Reserve Bank of New York, with Treasury credit protection in

Client Alert | January 5, 2009

Delay in Implementing Certain Aspects of the U.S.-Iraq SOFA against U.S. Contractors

The Status of Forces Agreement (SOFA) between the United-States and Iraq was scheduled to take effect on January 1, 2009.  Since the SOFA agreement became final on November 28, 2008, contractors operating in Iraq have had numerous questions on how the SOFA will be implemented and what effect it will have on their business operations.  One of the primary concerns for U.S.

Client Alert | January 5, 2009