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Duane Morris LLP has named associates William Heuer in New York and Christopher Winter in Wilmington, DE, to the firm partnership. Heuer practices in the area of business and financial restructuring, bankruptcy law and creditors' rights litigation. He has been involved in a number of landmark bankruptcy cases decided by the U.S. Supreme Court. Winter represents debtors, creditors' committees and secured and unsecured creditors in Chapters 11 and 7 business bankruptcies, and has represented trustees and defendants in bankruptcy and related litigation in the state and federal courts of Delaware. He also represents borrowers, lenders and investors in a variety of financing transactions, including secured and asset-based credit facilities and venture capital financings.
Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, has elected Alice Belisle Eaton and Elizabeth R. McColm to the firm partnership in the bankruptcy department. Eaton will target her practice on corporate restructurings and Chapter 11 cases, focusing on transactions arising in the context of out-of-court workouts, post-petition financings, asset sales and emergence transactions, including exit financings and rights offerings. McColm will focus on insolvency matters for debtors, official creditors committees, ad hoc bondholder groups, investors and acquirers.
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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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