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2005 Bankruptcy Act: What Your Company Needs To Know
On April 20, 2005, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (the Act). The Act made significant modifications to the United States Bankruptcy Code (11 U.S.C. Section 101, et seq.) (the Code) and related federal statutes. The Act, its Congressional history, and its changes to the Code can be found at http://thomas.loc.gov/cgi-bin/cpquery/R?cp109:FLD010:@1(hr031).
While initial focus centered on the Act's consumer bankruptcy provisions, the Act also contains provisions that significantly impact businesses and their representatives, including officers, directors and employees. Most of the Act's consumer-related provisions are not effective until 180 days after its passage (Oct. 17, 2005); however, some of the more significant provisions affecting businesses and their representatives were effective on April 20, 2005. One particularly significant provision ' related to conduct addressed in the Sarbanes-Oxley Act of 2002 ' is retroactively effective as of July 30, 2002, the enactment date of Sarbanes-Oxley.
This article discusses some of the more significant changes to the Code made by the Act that are likely to affect businesses and their representatives.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
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.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.