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<i>Forest Capital</i><br><i><font size="-1">Is It a Case of UCC Article 8 Versus 9?</i></font>
Institutions that maintain and manage securities accounts for businesses and other customers perform a critical function for the securities and lending industries. These intermediaries, consisting primarily of investment managers, broker-dealers and banks, manage more than $62 trillion in assets for both individual and institutional clients. In so doing, they enable customers to hold and borrow against investment property. See Amicus Brief of the Securities Industry and Financial Markets Association, Forest Capital v. Blackrock, No. 15-1551 (4th Cir. Sept. 21, 2015), at 1 (ECF No. 28-1).
UCC Article 8 provides what has been described as the “modern legal structure” for the system of holding securities through intermediaries. And through the interaction of Articles 8 and 9, the UCC both governs and facilitates the use of securities as collateral for obtaining credit. Note, UCC § 8-102(a)(14) defines a “securities intermediary” as a clearing corporation or a “person … that in the ordinary course of its business maintains securities accounts for others and is acting in that capacity.” U.C.C. § 8-102.
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.
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.
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?
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.
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.