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Employee-Benefits Bankruptcy Issues That Law Firms Need to Know
Impact of Bankruptcy Legislation on IRAs
This article provides an update on the protection of an individual retirement account (IRA) from creditors after the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (the Act). In general, the Act, which took effect on Oct. 17, 2005, expands the bankruptcy protections previously available for a debtor's 'ERISA-qualified' retirement funds.
In a bankruptcy proceeding, a bankruptcy estate is created to collect funds for the payment of the debtor's debts. The bankruptcy estate consists of all of the debtor's legal and equitable property interests. The debtor can seek to protect his retirement funds from creditors by claiming either an exclusion from the bankruptcy estate or an exemption. Historically, there were limitations on the effectiveness of both kinds of protection with respect to IRAs. (Note: Funds which qualify for an exclusion are never brought into the bankruptcy estate. If an exclusion does not apply, the funds technically do become part of the bankruptcy estate but can be effectively shielded from creditors' claims by an exemption.)
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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.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?