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Secured Lender's Loss of Possessory Lien Affirmed Image

Secured Lender's Loss of Possessory Lien Affirmed

Lawrence S. Goldberg, David M. Hillman & Michael L. Cook

The U.S. Bankruptcy Appellate Panel for the Eighth Circuit held on March 25, 2013, that a lender "lost its possessory lien when it turned the Debtor's account funds over to the Trustee without first seeking adequate protection.

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Financing the Cloud Image

Financing the Cloud

Ron Arrington

One subject not getting near enough attention is the role IT financing will play as companies migrate to the cloud in a bid to save costs and bring added flexibility to their business models.

Circular Lien Priorities: Tackling Three-Party Subordination Image

Circular Lien Priorities: Tackling Three-Party Subordination

Alan M. Christenfeld & Barbara M. Goodstein

This article discusses the priority issues that can arise where three or more creditors claim a security interest in the same collateral and a recent Seventh Circuit case, <i>Caterpillar Financial Services v. Peoples National Bank,</i> that addresses this infrequently adjudicated problem.

Features

Recovery of Make-Whole Premiums Image

Recovery of Make-Whole Premiums

David M. Hillman & Karen S. Park

Earlier this year, the U.S. Bankruptcy Court for the Southern District of New York added to the debate on alender's right to recover a make-whole premium as part of its allowed claim in a bankruptcy case.

Cyberinsurance: Making the Policy Fit Image

Cyberinsurance: Making the Policy Fit

Judy Selby & Brian Esser

It seems that everyone these days, from President Obama to Facebook account holders, is concerned about cybersecurity. Data breaches and cyberintrusions are front page news, and businesses are warned to take a 'when, not if' approach to these threats.

Features

Online Retailers Lose Challenge to New York's Internet Tax Image

Online Retailers Lose Challenge to New York's Internet Tax

Shari Claire Lewis

In a case that has far-reaching ramifications because of the exponential expansion of cyberspace in general, and because of the growth of e-commerce in particular, the New York Court of Appeals has rejected challenges by two major online retailers to New York's 'Internet tax,' which requires collection of a sales tax on online purchases made by New York residents.

Features

e-Discovery 3.0: Preparing for a New Era of Forensic Collections Image

e-Discovery 3.0: Preparing for a New Era of Forensic Collections

Greg Cancilla

When a corporation involved in a high-profile lawsuit last year wanted to find an incriminating text message that a former employee intentionally deleted from his mobile phone, its legal team did not conduct a nationwide manhunt for the sender's device or subpoena his wireless carrier. In the modern era of high-tech litigation, the company's forensic specialists simply used the UFED Touch Ultimate data extraction, decoding and analysis tool from Israel-based Cellebrite Ltd.

Features

The War on Cybercrime Heats Up Image

The War on Cybercrime Heats Up

Gabrielle T. Kelly, Mark Mermelstein & James Hsiao

Cybercrime is neither rare nor isolated these days. You no longer need to be a major bank, retailer, credit card company, social media site or government to become a target. Every company with an online presence, or even a connection to the Internet, has become fair game.

Features

DMCA 'Safe Harbor' Consensus Among Circuits Evolves Image

DMCA 'Safe Harbor' Consensus Among Circuits Evolves

J.T. Westermeier

The Ninth Circuit recently issued an important ruling in <i>UMG Recordings, Inc. v. Veoh Networks, Inc.</i> relating to DMCA 'safe harbor' protection .

Features

Using an Online Deadline Management System To Reduce Risk Image

Using an Online Deadline Management System To Reduce Risk

Troy Rackham

Managing deadlines is a critical part of every law practice. Missed deadlines are frequently one of the most common reasons lawyers get sued or their clients file grievances.

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    “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.
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    Insiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.
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