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Newcomers Help Reed Smith Venture into New York
A stronger New York presence has developed for Reed Smith with the addition of 21 Hall Dickler lawyers from New York and Beverly Hills, who joined Reed Smith at the beginning of the month. Hall Dickler, which was 70 years old and concentrated on advertising law, has now come to an end. Several other Hall Dickler lawyers had left during 2003 to join Los Angeles-based Manatt, Phelps & Phillips.
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The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
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