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Full-Text Articles in Law

Rwu Law News: The Newsletter Of Roger Williams University School Of Law, Michael M. Bowden, Gregory W. Bowman, Brooklyn Crockton Apr 2022

Rwu Law News: The Newsletter Of Roger Williams University School Of Law, Michael M. Bowden, Gregory W. Bowman, Brooklyn Crockton

Life of the Law School (1993- )

No abstract provided.


Law School News: Sanctions On Russia: Imperfect But Necessary 03-02-2022, Gregory W. Bowman Mar 2022

Law School News: Sanctions On Russia: Imperfect But Necessary 03-02-2022, Gregory W. Bowman

Life of the Law School (1993- )

No abstract provided.


True Sales Or Secured Transactions? The Contract Is Not Dispositive, Daniel Mosayov Jan 2022

True Sales Or Secured Transactions? The Contract Is Not Dispositive, Daniel Mosayov

Bankruptcy Research Library

(Excerpt)

Receivables are debts owed to a company for goods or services. A company seeking liquidity may sell the future interest in receivables generated through operations or use the future interest in receivables as collateral to secure a loan. The parties’ rights will vary depending on whether the receivables are sold or used as collateral. If sold, the buyer holds absolute ownership of the acquired receivables protected from other interests. If the transaction is a loan, the lender holds a security interest in the receivables, which may be junior to other interests.

A bankruptcy court can recharacterize a transaction as …


Secured Credit And Effective Entity Priority, Christopher W. Frost Jan 2019

Secured Credit And Effective Entity Priority, Christopher W. Frost

Law Faculty Scholarly Articles

The historical and doctrinal development of secured transactions and bankruptcy law has created a priority system that is asset based. Secured creditor priority is tied to the value of specific assets that constitute the secured creditor’s collateral and not to the value of the debtor itself. And yet, in corporate bankruptcy cases, lenders and their attorneys often assert broad claims to the entire enterprise value of the entity—that is, to the present value of the cash flows that the entity will generate as a going concern. The doctrinal basis for such claims is often unstated, however, and several commentators have …


The Standard For Taking A Security Interest In Fixtures, Mark J. Lobiondo Jan 2019

The Standard For Taking A Security Interest In Fixtures, Mark J. Lobiondo

Bankruptcy Research Library

(Excerpt)

Creditors that have a security interest in the same collateral will often dispute the priority of each other’s liens. In general, the security interest that is first perfected will be entitled to priority over subsequent liens. A security interest is generally perfected by filing a financing statement that satisfies the requirements of section 9-502 of the UCC. Section 9-502 provides that a financing statement is sufficient only if it: (1) provides the name of the debtor; (2) provides the name of the secured party or a representative of the secured party; and (3) indicates the collateral covered by the …


A Rash Decision In Sunnyslope: Confusion Lingers Over Collateral Valuation, Michael D. Manzo Sep 2018

A Rash Decision In Sunnyslope: Confusion Lingers Over Collateral Valuation, Michael D. Manzo

St. John's Law Review

(Excerpt)

This Comment argues that the Ninth Circuit’s Sunnyslope decision misconstrued the Rash Court’s holding and is divorced from the text and structure of the Code. Rash does not provide a brightline rule that answers valuation questions in cramdowns; it offers a flexible standard that is compatible with the Code’s protections for both debtors and secured creditors. Further, this Comment also argues that Sunnyslope could have been answered not as a valuation issue, but as a lien priority issue. In any event, the Ninth Circuit completely missed the mark in interpreting the Supreme Court’s holding in Rash and in understanding …


The Cfpb’S Endaround, Chris O'Brien May 2018

The Cfpb’S Endaround, Chris O'Brien

Catholic University Law Review

The financial crisis of 2008 led Congress to enact the Dodd-Frank Wall Street Reform and Consumer Protection Act and establish the Consumer Financial Protection Bureau (CFPB) to better protect consumers. Although Dodd-Frank and the CFPB introduced sweeping changes to many areas of financial lending, automobile dealers and financers were expressly excluded from oversight by the CFPB. Despite this express limitation on the CFPB’s authority, the Bureau nonetheless expanded its definition of “larger participants” to encompass automobile dealers and financiers. This action has resulted in duplicative regulatory oversight and increased costs to consumers, which in turn, imposes additional burdens on those …


Courts Override Underlying Contractual Obligations In The Chapter 11 Surrender And Abandon Of Aircraft Equipment And Vessels, Lisa Strejlau Jan 2017

Courts Override Underlying Contractual Obligations In The Chapter 11 Surrender And Abandon Of Aircraft Equipment And Vessels, Lisa Strejlau

Bankruptcy Research Library

(Exceprt)

When chapter 11 airline debtors seek to abandon and surrender collateral under a financing agreement, they are not required to do so in any particular condition under the Bankruptcy Code. This leaves the question of who bears the burden of associated costs unresolved. This memo will discuss how courts interpret the issue of costs associated with the surrender and return of aircraft and related equipment.

Financers of aircraft and related equipment receive special privileges under section 1110 of the Bankruptcy Code (“the Code”). Section 1110 permits a party to take possession of an aircraft in the custody of a …


Choice-Of-Law Rules For Secured Transactions: An Interest-Based And Modern Principles-Based Framework For Assessment, Charles W. Mooney Jr. Jan 2017

Choice-Of-Law Rules For Secured Transactions: An Interest-Based And Modern Principles-Based Framework For Assessment, Charles W. Mooney Jr.

All Faculty Scholarship

This essay examines the law applicable to secured transactions. It addresses in particular the codification of the choice-of-law rules for secured transactions (STCOL rules). These rules address the laws applicable to the creation, perfection, priority, and enforcement of security interests (security rights)—a form of legislative or statutory dépeçage. It draws on the 2016 UNCITRAL Model Law on Secured Transactions (Model Law) as well as relevant North American law (Uniform Commercial Code Article 9 and the Canadian provincial Personal Property Security Acts). The STCOL rules lie at the heart of the emerged and emerging modern principles of secured transactions law …


Criminal Law And Procedure, Aaron J. Campbell Nov 2016

Criminal Law And Procedure, Aaron J. Campbell

University of Richmond Law Review

No abstract provided.


Article 9 And The Characterization And Treatment Of Tenant Security Deposits, William H. Henning, R. Wilson Freyermuth Jul 2015

Article 9 And The Characterization And Treatment Of Tenant Security Deposits, William H. Henning, R. Wilson Freyermuth

William H. Henning

No abstract provided.


Beyond The Right To Counsel: Increasing Notice Of Collateral Consequences, Brian M. Murray May 2015

Beyond The Right To Counsel: Increasing Notice Of Collateral Consequences, Brian M. Murray

University of Richmond Law Review

This article responds to these questions by focusing on the primary roots of this justice issue, namely the prevalence of guiltypleas and the continued efforts of legislatures to increase the life- long price of a conviction. Part I begins with a discussion of these practical realities within the criminal justice system. Part II then examines the law of guilty pleas under the Fifth Amendment, including constitutional standards for valid pleas, and how current jurisprudence fails to account for the collateral consequences mentioned in Part I. Part II also discusses the right to effective assistance of counsel under the Sixth Amendment, …


Corporate Speak And “Collateral Recruitment”: Surfing The Student Body, Colleen Mcgloin Jan 2015

Corporate Speak And “Collateral Recruitment”: Surfing The Student Body, Colleen Mcgloin

Faculty of Law, Humanities and the Arts - Papers (Archive)

‘‘Corporate speak,’’ the language of neoliberalism, has for so long been integrated into higher education institutions that many academics greet new terms wanly with the tedium of overkill; academic practice is scrutinized and regulated through terms such as performance indicators, benchmarking, service providers, and clients. As part of a discursive field where ideological shifts continue to apply marketized frames of reference as neoliberalism tightens its grip, new terms and phrases are commonplace.


Placeholders: Engaging The Hayekian Critique Of Financial Regulation, Annelise Riles Dec 2014

Placeholders: Engaging The Hayekian Critique Of Financial Regulation, Annelise Riles

Annelise Riles

Since Friedrich Hayek, debates about the proper relationship between the state and the market, and about the optimal design of regulatory institutions, often turn on assumptions about the workings of legal expertise — and in particular about the difference between public expertise (bureaucratic knowledge) and private expertise (private law). Hayek’s central argument, adopted uncritically by a wide array of policy-makers and academics across the political spectrum, is a temporal one: bureaucratic reasoning is inherently one step behind the market, and hence effective market planning is impossible. In contrast, Hayek argues, private ordering is superior because it is of the moment, …


Appellate Division, First Department, People V. Ramirez, Nicole Compas Nov 2014

Appellate Division, First Department, People V. Ramirez, Nicole Compas

Touro Law Review

No abstract provided.


Supreme Court, New York County, People V. Vasquez, Jessica Goodwin Nov 2014

Supreme Court, New York County, People V. Vasquez, Jessica Goodwin

Touro Law Review

No abstract provided.


Secured Credit And Insolvency Law In Argentina And The U.S.: Gaining Insight From A Comparative Perspective, Guillermo A. Moglia Claps, Julian B. Mcdonnell Oct 2014

Secured Credit And Insolvency Law In Argentina And The U.S.: Gaining Insight From A Comparative Perspective, Guillermo A. Moglia Claps, Julian B. Mcdonnell

Georgia Journal of International & Comparative Law

No abstract provided.


When Is A Dog’S Tail Not A Leg?: A Property-Based Methodology For Distinguishing Sales Of Receivables From Security Interests That Secure An Obligation, Steven L. Harris, Charles W. Mooney Jr. Jan 2014

When Is A Dog’S Tail Not A Leg?: A Property-Based Methodology For Distinguishing Sales Of Receivables From Security Interests That Secure An Obligation, Steven L. Harris, Charles W. Mooney Jr.

All Faculty Scholarship

There are two principal ways in which a firm that is owed money payable in the future but needs the money now may use its rights to payment (“receivables”) to obtain the needed financing. It might sell its receivables, or it might borrow and use the receivables as collateral to secure the loan. Different legal consequences follow depending on whether the transaction is a true sale or is a security interest that secures an obligation (a “SISO”).

These legal consequences are particularly salient when the firm enters bankruptcy. If the transaction is a sale, then the buyer can collect the …


Article 9 And The Characterization And Treatment Of Tenant Security Deposits, William H. Henning, R. Wilson Freyermuth Jul 2013

Article 9 And The Characterization And Treatment Of Tenant Security Deposits, William H. Henning, R. Wilson Freyermuth

University of Arkansas at Little Rock Law Review

No abstract provided.


Collateral Matters: Housing Code Compliance In The Mortgage Crisis, Kermit J. Lind Jun 2012

Collateral Matters: Housing Code Compliance In The Mortgage Crisis, Kermit J. Lind

Northern Illinois University Law Review

This article begins by describing the paradigm shift in mortgage loan servicing produced over the past two decades by securitization and exotic financing products using residential property for collateral. It shows how current mortgage servicing and debt collection practices ignore mortgage collateral and renders conventional housing code compliance procedures obsolete. It then suggests that new strategic thinking is needed to redesign and retool code compliance processes. Residential neighborhoods and communities need to protect themselves against the wanton lending and servicing practices produced in the wake of the mortgage disaster. There is still immanent disaster not only from the new financial …


Indiana State Police Pension Trust V. Chrysler: A Missed Opportunity To Improve Collateral Valuation Doctrine, Jason A. Pan May 2012

Indiana State Police Pension Trust V. Chrysler: A Missed Opportunity To Improve Collateral Valuation Doctrine, Jason A. Pan

Jason A Pan

Section 506(a)(1) of the Chapter 11 bankruptcy code addresses how to value collateral. This issue arose in Indiana State Police Pension Trust v. Chrysler, but unfortunately the Supreme Court declined to hear the case. As a result the current doctrine on whether to value collateral according to a liquidation versus a going concern standard is Assocs. Commercial Corp. v. Rash, which held that collateral should be valued according to its proposed use. The Rash doctrine, that collateral is to be valued using a going concern standard when proposed to be used in a going concern context, creates opportunity for economic …


Can A Secured Creditor Be Denied The Right To Credit Bid When The Creditor’S Collateral Is Sold Pursuant To A Chapter 11 Plan Of Reorganization?, Marshall E. Tracht Jan 2012

Can A Secured Creditor Be Denied The Right To Credit Bid When The Creditor’S Collateral Is Sold Pursuant To A Chapter 11 Plan Of Reorganization?, Marshall E. Tracht

Articles & Chapters

CASE AT A GLANCE

A bankruptcy plan can only be confirmed over the objection of a secured creditor if the plan is found to be “fair and equitable.” The fair and equitable standard requires, at a minimum, that (i) the creditor may retain its lien on its collateral; (ii) the collateral will be sold subject to the creditor’s right to credit bid its debt; or (iii) the creditor will receive the “indubitable equivalent” of its claim. The Supreme Court must decide whether a plan can provide for the sale of collateral without granting the creditor the right to credit bid …


What Every Guarantor Should Know About The One-Action Rule And Deficiency Actions, David R. Hague Jan 2012

What Every Guarantor Should Know About The One-Action Rule And Deficiency Actions, David R. Hague

Faculty Articles

Personal guarantees are an inherent part of obtaining a business loan. A personal guarantee is an unsecured promise from an individual to make loan payments when the business is not able to do so. In other words, it is simply an added assurance for the lender that the loan will be paid in full. Generally, if the borrower defaults, the lender can file suit against both the borrower and the guarantor for payment. Oftentimes, lenders require another layer of protection, in addition to the personal guarantee: collateral to secure the loan.

Signing a personal guarantee comes with substantial risks, primarily …


Testing The Reach Of Ucc Article 9: The Question Of Tax Credit Collateral In Secured Transactions, Christopher K. Odinet Dec 2011

Testing The Reach Of Ucc Article 9: The Question Of Tax Credit Collateral In Secured Transactions, Christopher K. Odinet

Christopher K. Odinet

This Article addresses the open question related to the use of tax credits as a source of secured capital. It first lays a foundation by analyzing the theoretical underpinnings of the UCC’s category for general intangibles and shows how classification as a general intangible can and should comport with the legal substance of tax credits as a form of secured financing. The work also investigates the theory and nature that forms the basis of tax credits and their economic value. Next, the Article provides an overview of the relatively meager case law on tax credit financing and explains how courts …


Visa As Property, Visa As Collateral, Eleanor Marie L. Brown May 2011

Visa As Property, Visa As Collateral, Eleanor Marie L. Brown

Vanderbilt Law Review

Three decades ago Guido Calabresi and Philip Bobbit famously wrote about "tragic choices," namely tough policy choices which offend deeply held values, and the accompanying "subterfuges," that is, efforts by policy elites to shield such choices from public view.' Strangely, the "tragic choice" framework has not been applied in the context of U.S. immigration law, although current immigration policy is rife with tragic choices and subterfuges. A case in question is the issue of commodification of visas. It is clear that U.S. policymakers remain deeply committed to maintaining an illusion that U.S. visas are not being "sold."2 For example, in …


The Recent Amendments To Ucc Article 9: Problems And Solutions, David Frisch Mar 2011

The Recent Amendments To Ucc Article 9: Problems And Solutions, David Frisch

University of Richmond Law Review

This article examines three of the forthcoming amendments to Article 9 in some detail: (1) the required name of an individual on a financing statement; (2) the perfection of collateral following the debtor's relocation to a new jurisdiction; and (3) collateral acquired by a new debtor. In the interest of brevity, the discussion of other, less noteworthy, amendments of the statutory text and Official Comments is not as complete. The primary purpose of this article is to offer guidance to legal professionals confronting particular issues under current and future Article 9.


Collateral Consequences After Padilla V. Kentucky: From Punishment To Regulation, Margaret Colgate Love Jan 2011

Collateral Consequences After Padilla V. Kentucky: From Punishment To Regulation, Margaret Colgate Love

Saint Louis University Public Law Review

This Article analyzes the scope of Padilla v. Kentucky, concluding that its logic extends beyond deportation to many other severe and certain consequences of conviction that are imposed by operation of law rather than by the sentencing court. It proposes a set of reforms that would limit the disruptive effect of these so-called “collateral consequences” on the guilty plea process and make a defense lawyer’s job easier. Part I describes a case currently pending in the Pennsylvania Supreme Court that may yield some important clues about how broadly the Padilla doctrine will be applied to status-generated consequences other than …


Incorporating Collateral Consequences Into Sentencing Guidelines And Recommendations Post-Padilla, Michael A. Wolff Jan 2011

Incorporating Collateral Consequences Into Sentencing Guidelines And Recommendations Post-Padilla, Michael A. Wolff

Saint Louis University Public Law Review

No abstract provided.


“Collateral” No More: The Practical Imperative For Holistic Defense In A Post-Padilla World . . . Or, How To Achieve Consistently Better Results For Clients, Mcgregor Smyth Jan 2011

“Collateral” No More: The Practical Imperative For Holistic Defense In A Post-Padilla World . . . Or, How To Achieve Consistently Better Results For Clients, Mcgregor Smyth

Saint Louis University Public Law Review

No abstract provided.


The Recent Amendments To Ucc Article 9: Problems And Solutions, David Frisch Jan 2011

The Recent Amendments To Ucc Article 9: Problems And Solutions, David Frisch

Law Faculty Publications

This article examines three of the forthcoming amendments to Article 9 in some detail: (1) the required name of an individual on a financing statement; (2) the perfection of collateral following the debtor's relocation to a new jurisdiction; and (3) collateral acquired by a new debtor. In the interest of brevity, the discussion of other, less noteworthy, amendments of the statutory text and Official Comments is not as complete. The primary purpose of this article is to off er guidance to legal professionals confronting particular issues under current and future Article 9.