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The Scope and Limits of Article 9
When one thinks of personal property collateral, one surely thinks of Article 9 of the U.C.C. Article 9 covers not only the obvious types of personal property collateral like equipment and chattel paper, but it also covers many types of collateral one might not have expected, such as commercial tort claims, certain health care insurance receivables, letters of credit, nonpossessory statutory agricultural liens, public finance transactions, security interests arising under Articles 2, 2A, 4 and 5 of the U.C.C., software and supporting obligations. Article 9 even applies to consignments and sales of accounts, chattel paper, payment intangibles and promissory notes. Despite its breadth, however, there are many types of personal property excluded from Article 9. Additionally, in some cases, Article 9 applies only in part, such as where it defers to specific state or federal laws for perfection or priority issues, but still governs enforcement.
The following is a discussion of the three major categories of personal property liens excluded from Article 9, in whole or in part.
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.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
One Overlooked Element of Executive Safety: Data Privacy
Executives have access to some of the company's most sensitive information, and they're increasingly being targeted by hackers looking to steal company secrets or to perpetrate cybercrimes.