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Prepping for the 2010 Amendments to Article 9 of the UCC
As many readers are aware, substantial revisions to Article 9 of the Uniform Commercial Code (“UCC”) became effective in all 50 states and the District of Columbia in 2001 or shortly thereafter. See Revised Article 9. Secured Transactions (with conforming amendments to Articles 1, 2, 2A, 4, 5, 6, 7, and 8). Although these amendments have worked well and simplified commercial law and practice in important respects, enough ambiguities and frictions between theory and practice have arisen over the past decade to justify statutory fine tuning. Accordingly, in 2008, the Uniform Law Commission (“ULC”) and the American Law Institute (“ALI”) set to work on evaluating and improving Article 9. A set of amendments which were completed in May 2010 by the ULC and the ALI (“2010 amendments”) reflecting these efforts is ready for consideration by state legislatures. This article discusses some of the troublesome issues that prompted the work of these commercial law grandees and the solutions contemplated by the 2010 amendments.
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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.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.