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New UCC Legislation: The Creation of a Substantial Debtor Name Due Diligence Burden
Two states recently enacted non-uniform amendments to UCC Article 9 that should be of urgent concern to the equipment leasing and finance industry. Legislation in both Tennessee and Nebraska extends added protection to UCC filers from the risk created by uncertainty over sufficiency of individual debtor names. A secured party must provide the correct name of the debtor when filing to perfect a security interest. Yet, Article 9 offers no guidance to help a secured party determine the correct name of an individual.
Unfortunately, the new protection for UCC filers really just shifts the risk of debtor name variations to prospective lenders. As a result, lenders must exercise a heightened level of due diligence before entering into transactions with individuals in these states. This article discusses the individual debtor name problem, explains the effect of this legislation, and recommends due diligence best practices for lenders dealing with individuals located in Tennessee and Nebraska.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.