By Iohann Le Frapper, Association of Corporate Counsel (ACC)

The Association of Corporate Counsel (ACC) recently elected a global board of directors, with Iohann Le Frapper, general counsel of industrial financing firm ChetWode, named chair. Le Frapper is a truly global in-house professional with stints in the EU, the Middle East and Asia across multiple industry sectors. He discusses below the ACC’s strategic priorities, global reach and educational and networking opportunities for in-house lawyers around the world. His responses have been edited for length and style.
Continue Reading ACC Global Chair Pursues Global Priorities: In-house group seeks cross-border perspective on legal issues

By Robert Max Crane, Peter G. Verniero, Beth S. Rose, Sills Cummis & Gross P.C.

Sills Cummis & Gross recently celebrated its 45th anniversary with a gala reception featuring political commentators David Axelrod and Michael Murphy as befits the firm’s commitment to government service and civic affairs. Sills Managing Partner, Max Crane, and two of its practice leaders, Peter G. Verniero and Beth S. Rose, recently spoke with MCC about the event, the firm’s roots and its future. Their remarks have been edited for length and style.
Continue Reading Sills Celebrates in Civic-Minded Fashion: Firm anniversary brings together law, business, government and policy

By: Joe Calve, Metropolitan Corporate Counsel

In a post this summer to the Seyfarth Shaw blog, Seytlines, Ken Grady, the firm’s “Lean Law Evangelist” and former CEO of SeyfarthLean Consulting, conducted a fascinating thought experiment. Here is how he framed it: “The chatter today is about a world with different types of large law firms. In this essay, I’m going to ask a different question, ‘Is there a future with different types of law departments?’ ”
Continue Reading Backstory: Imagine…

By: Andriana Georgallas, Weil, Gotshal & Manges LLP

Recently, in GSE Environmental, Inc. v. Sorrentino (In re GSE Environmental, Inc.), on a motion for judgment on the pleadings, the Bankruptcy Court for the District of Delaware held that the Chief Executive Officer’s claim for unpaid compensation payable in stock constituted an equity security rather than a general unsecured claim. The facts of GSE Environmental are an all too familiar story in the bankruptcy context: Company files for chapter 11, but certain employees, or in this case executives, were not paid their full compensation before the petition date. Whether such unpaid compensation is treated as a general unsecured claim or equity securities can have a tangible effect on the employee’s recovery in the case. GSE Environmental serves as one example of a variation of unpaid compensation that may be treated as an equity security.


Charles Sorrentino served as interim president and CEO to the debtors, GSE Environmental, Inc. and GSE Holding, Inc., as of July 1, 2013. Pursuant to his original employment agreement, Sorrentino was earning $186,000 per month payable in cash. A month later, the parties amended his agreement to provide that $100,000 of Sorrentino’s monthly compensation would

Continue Reading Get to the Back of the Line: Delaware Bankruptcy Court Holds C-Suite Stock Compensation was Equity Security Not General Unsecured Claim