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Articles 1 - 16 of 16
Full-Text Articles in Secured Transactions
Ordering The Judicial Process Lien And The Security Interest Under Article Nine: Meshing Two Different Worlds Part I—Secured Parties And Post-Judgment Process Creditors, Thomas M. Ward
Maine Law Review
The clash between a creditor with a consensual security interest in personal property and a general creditor with a judicially created lien in the same property generates fundamental problems for the commercial lawyer. The respective rights of these two parties hinge upon a determination of priority. Because the interests of the parties are governed by distinct bodies of state law whose interrelationship remains unclarified, the resolution of priority problems in this context is difficult. Article Nine of the Uniform Commercial Code, which purportedly contains a comprehensive priority system, regulates the consensual security transfer, and a variety of independent state statutory …
Total Return Meltdown: The Case For Treating Total Return Swaps As Disguised Secured Transactions, Colin P. Marks
Total Return Meltdown: The Case For Treating Total Return Swaps As Disguised Secured Transactions, Colin P. Marks
Faculty Articles
Archegos Capital Management, at its height, had $35 billion in assets. But in the spring of 2021, in part through its use of total return swaps, Archegos sparked a $30 billion dollar sell-off that left many of the world's largest banks footing the bill. Mitsubishi UFJ Group estimated a loss of $300 million; UBS, Switzerland's biggest bank, lost $861 million; Morgan Stanley lost $911 million; Japan's Nomura lost $2.85 billion; but the biggest hit came to Credit Suisse Group AG, which lost $5.5 billion. Archegos itself lost $20 billion over two days. The unique characteristics of total return swaps and …
Virtual Currency As Crypto Collateral Under Article 9 Of The Ucc: Trying To Fit A Square Peg In A Round Hole, Sharon E. Foster
Virtual Currency As Crypto Collateral Under Article 9 Of The Ucc: Trying To Fit A Square Peg In A Round Hole, Sharon E. Foster
Arkansas Law Review
This Article addresses the current state of academic discussion regarding the problems of creating an enforceable security interest under Article 9 of the Uniform Commercial Code (UCC) using virtual currency, such as bitcoin, as collateral. While academic discussion is helpful and, indeed, may one day be adopted by a court and become law, the primary problem in using virtual currency as collateral is the uncertainty regarding using Article 9 to create an enforceable security interest in virtual currency. Simply put, Article 9 does not specifically address virtual currency as collateral, and we have no case law at this time to …
The Hierarchy Of Priority, Paul Wangerin
The Hierarchy Of Priority, Paul Wangerin
The Journal of Business, Entrepreneurship & the Law
The analysis in this article suggests that there is a hierarchy of priorities in Article 9 of the UCC and that this hierarchy is relatively simple to describe. The analysis here describes this hierarchy by engaging in a two-part analysis. Part I suggests that the rules for priorities in Article 9 come out of the interaction of a number of variables, variables that are well-known to everybody who is familiar with Article 9. Part II suggests that the variables described in Part I allow us to put all of the important rules about priorities into a simple chart that shows …
The Imperfect State Of Patent Perfection, Yongae Jun
The Imperfect State Of Patent Perfection, Yongae Jun
Akron Intellectual Property Journal
The state of the law regarding perfection of security interests in patents is uncertain. Attorneys advise their clients to record with both the state and the federal registration systems in order to perfect their security interests. Moreover, the Supreme Court missed its opportunity to clarify the ambiguity when it denied certiorari to Cybernetic Services. This comment will attempt to make sense of this area of the law and formulate an opinion as to what the law should be. Part II of this comment will interpret Section 261 through textual analysis, canons of construction, and legislative history. Part III will explore …
The Value Of Public-Notice Filing Under Uniform Commercial Code Article 9: A Comparison With The German Legal System Of Securities In Personal Property, Jens Hausmann Dr.
The Value Of Public-Notice Filing Under Uniform Commercial Code Article 9: A Comparison With The German Legal System Of Securities In Personal Property, Jens Hausmann Dr.
Georgia Journal of International & Comparative Law
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
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.
Rejection Of Nonresidential Leases Of Real Property In Bankruptcy: What Happens To The Mortgagee's Security Interest? , William E. Winfield
Rejection Of Nonresidential Leases Of Real Property In Bankruptcy: What Happens To The Mortgagee's Security Interest? , William E. Winfield
Pepperdine Law Review
No abstract provided.
The Immovable Object Versus The Irresistable Force: Rethinking The Relationship Between Secured Credit And Bankruptcy Policy, Lawrence Ponoroff, F. Stephen Knippenberg
The Immovable Object Versus The Irresistable Force: Rethinking The Relationship Between Secured Credit And Bankruptcy Policy, Lawrence Ponoroff, F. Stephen Knippenberg
Michigan Law Review
The last leaf in O. Henry's classic short story was hanging by a delicate thread, but it never fell. It never fell, of course, because it wasn't real; Old Behrman had painted it (and caught pneumonia for his trouble) in order to give Johnsy the will to live. The Supreme Court's decision in Dewsnup v. Timm is also hanging by a thread, following a barrage of scholarly criticism and more than four years of limiting case law and legislative incursions on the case's core conceptual rationale. But the holding in Dewsnup, unlike the last leaf, is very real. It has …
The Intersection Of Articles 2 And 9, Steven L. Harris, James J. White
The Intersection Of Articles 2 And 9, Steven L. Harris, James J. White
Other Publications
I. Standard Form Contracts II. Buyer in Ordinary Course; Prepaying Buyer III. Consignments IV. Seller's Right to Reclaim Delivered Goods
The Intersections Of Articles 2 And 9: Recommendations For Clarification And Revisions, Richard E. Speidel, James J. White
The Intersections Of Articles 2 And 9: Recommendations For Clarification And Revisions, Richard E. Speidel, James J. White
Other Publications
Both Article 2, Sales and Article 9, Secured Transactions are under revision. The process of coordination is underway, but there is still much work to do. The following materials identify the major issues at the intersections and some tentative solutions. All references are to the 1990 Official Text of the Uniform Commercial Code unless otherwise stated. When stated, references are to the October, 1995 Draft of Article 2 and the July, 1995 Draft of Article 9.
Clear Title For Farm Products: Congress And The Arkansas Legislature Attempt To Solve A Troublesome Problem, D. Fenton Adams
Clear Title For Farm Products: Congress And The Arkansas Legislature Attempt To Solve A Troublesome Problem, D. Fenton Adams
University of Arkansas at Little Rock Law Review
No abstract provided.
Toward Maximum Facilitation Of Intent To Create Enforceable Article Nine Security Interests, Harold R. Weinberg
Toward Maximum Facilitation Of Intent To Create Enforceable Article Nine Security Interests, Harold R. Weinberg
Law Faculty Scholarly Articles
Article Nine of the Uniform Commercial Code generally facilitates individual autonomy in the creation of consensual security interests by imposing limited form and content requirements on security agreements. Private autonomy is subordinated, however, where the Article's draftsmen believed that certain other policies required a degree of regulation. Through the process of interpreting and applying a number of Code provisions which set forth the requirements for creating security interests, a court can effectuate what it considers to be the appropriate balance between facilitating the parties' intent to create a security interest and insuring that regulatory policies, such as protecting creditors and …
Real Estate Investments As Securities: The Sufficiency Of The Howey Test Student Symposium - Interpreting The Statutory Definition Of A Security: Some Pragmatic Considerations., John W. Mcleod
St. Mary's Law Journal
The purpose of this article is to examine the kind of protection afforded to real estate investors through the securities acts passed the 1930s. The Supreme Court decision in SEC v. W.I. Howey Co. (1946) held that a security exists when (1) there is an investment of money (2) in a common enterprise (3) with profits to come solely from the efforts of others. This study considers the criticisms of Howey by two legal commentators of the late 1960s, Professor Coffee and Professor Long, in its examination of three main types of real estate investments: land syndications, condominiums, and cooperative …
Bankruptcy Preferences-Secured Transactions-Security Interest In After-Acquired Property Is Voidable Preference If Received Within Four Months Of Bankruptcy-In Re Portland Newspaper Publishing Co., Michigan Law Review
Michigan Law Review
In an effort to provide employment for several hundred workers who had lost their jobs in an unsuccessful strike against Portland's two largest newspapers, the local printers' unions and several civic leaders organized the Portland Reporter Publishing Co. (Reporter) to publish a rival newspaper. The unions also formed the Rose City Development Co. (Rose City), which leased facilities and equipment to Reporter and subsequently made several emergency operating loans to it. These loans were secured by an agreement designating as collateral all of Reporter's previously unsecured accounts receivable, both present and after-accruing. This type of agreement -securing after-acquired property of …
Uniform Commercial Code Article 9 Filing Procedures For Railroad, Utility, And Other Corporate Debtors: Some Suggestions, Daniel R. Elliott Jr.
Uniform Commercial Code Article 9 Filing Procedures For Railroad, Utility, And Other Corporate Debtors: Some Suggestions, Daniel R. Elliott Jr.
Michigan Law Review
After a brief discussion of the provisions of Article 9 peculiarly applicable to the long-term mortgage, a portion of this comment will review the relevant statutes and case authority in force prior to the effective date of the Code in various states and still applicable in others. More specifically, it will examine the special treatment accorded certain types of corporate indentures, particularly those securing the debt of railroads and other public utilities. Second, an attempt will be made to explain the probable solutions to the problems raised by the filing requirements of Article 9 as promulgated in each jurisdiction and …