Secured Transactions Commons^™

Death And Resurrection Of Secured Credit, James J. White

Articles

The Bankruptcy Reform Act of 1978 (the Code) posed palpable threats to secured creditors. It was drafted by a commission that was at least as concerned with the rights of debtors as with the rights of creditors. It was modified and adopted by a Congress that might have been the most liberal since World War II and signed into law by President Carter at the apogee of the left's power, two years before the Reagan election that marked the rise of the right and the beginning of the left's decline. The power of the left was exerted most forcefully on …

Impossible, Impracticable, Or Just Expensive? Allocation Of Expense Of Ancillary Risk In The Cmbs Market, 36 J. Marshall L. Rev. 653 (2003), Georgette Chapman Poindexter

UIC Law Review

No abstract provided.

Are Security Deposits "Security Interests"? The Proper Scope Of Article 9 And Statutory Interpretation In Consumer Class Actions, R. Wilson Freyermuth

Faculty Publications

Assume that Jane Doe leases an automobile from a General Motors dealer, pursuant to a lease contract under which Jane makes a cash security deposit. Under the lease, the lessor agrees to “refund” the deposit at the conclusion of the lease term in the event that Jane fully performs her obligations under the lease. Is this transaction governed by Article 9--i.e., has the lessor taken a “security interest” in Jane's cash deposit to secure Jane's obligations under the lease agreement?

A Day In The Life Of A Residential Mortgage Defendant, 36 J. Marshall L. Rev. 687 (2003), Harold L. Levine

UIC Law Review

No abstract provided.

Secured Transaction History: The Impact Of English Smuggling On The Chattel Mortgage Acts In The Spanish Borderlands, George Lee Flint Jr, Marie Juliet Alfaro

Faculty Articles

Spanish colonies, including the territories of Florida, Louisiana, and southwestern America, acknowledged the jurisdiction of Spanish royal decrees. The colonies approached the registration of mortgages in a similar but more tentative fashion, recognizing the distances between the borderlands and the registrar’s offices. The law developed differently in Florida and Louisiana, which were administered by a different governmental body. While the registration process was required for chattel mortgages on slaves, there is no evidence the rules were enforced or applied to other types of mortgages on personalty. However, in 1770, Louisiana adopted a filing requirement for chattel mortgages for all slaves …

Unification Of The Law Governing Secured Transactions: Progress And Prospects For Reform, Hannah Buxbaum

Articles by Maurer Faculty

This article was published in connection with UNIDROIT's 75th anniversary conference on worldwide harmonization of private law and regional economic integration. It begins by addressing the commercial need for harmonization in the area of secured transactions, discussing both traditional conflicts analysis in that field and particular obstacles to reform. It then outlines the specific reform initiatives that have been implemented to date, grouping them into sectoral instruments and regional instruments. It concludes by speculating on the future of harmonization efforts in security law.

Is Revised Ucc Article 9 An Anti-Bankruptcy Act? Yes, G. Ray Warner

Faculty Publications

(Excerpt)

Professor Harrell's article is an excellent addition to the discussion that I hoped to stimulate with my article on the bankruptcy implications of the Article 9 revision. I will not attempt here to respond to each specific point he has made, as I believe that my original article adequately sets forth my views.

I was, and I remain, convinced that the Article 9 revision project had as an agenda changing bankruptcy law and I believe that, as a result, the drafters exceeded the proper role of a non-governmental, state-based, supposedly neutral, law reform institution. My earlier anti-bankruptcy article was …

Tracing Principles In Revised Article 9 § 9-315(B)(2): A Matter Of Careless Drafting, Or An Invitation To Creative Lawyering?, William Stoddard

Nevada Law Journal

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

Scholarly Works

It is not the purpose of this study to argue for or against changes in the secured credit or insolvency law of Argentina or the U.S. The perpetual clash of interested noted by James Madison and the contemporary pressures of the global economy are likely to assure that these areas of law will be subject to continuing scrutiny in both countries. Instead, we first urge that the law governing the creation and enforcement of security devices and the way in which insolvency laws impact these devices be considered together as part of one system of financing. The power which secured …

22nd Annual Conference On Legal Issues For Financial Institutions, Office Of Continuing Legal Education At The University Of Kentucky College Of Law

Continuing Legal Education Materials

Materials from the 22nd Annual Conference on Legal Issues for Financial Institutions held by UK/CLE in April of 2002.

Reorganizations And Stochastic Collateral Value, Royce De R. Barondes

Faculty Publications

Bebchuk and Fried propose using a series of auctions to implement a market-based methodology for valuing secured claims in a reorganization. This Article demonstrates their procedure can result in a secured creditor receiving more than its ex ante bargain, and that the probability distribution of possible collateral values can be relevant to fulfilling the ex ante bargain. This Article further develops and examines a refinement of the Bebchuk and Fried procedure that provides an approximate solution to the overcompensation of secured creditors. This refinement reconceptualizes collateral as comprising two components: (i) a call option on that property, exercisable at the …

Venture Capital On The Downside: Preferred Stock And Corporate Control, William W. Bratton

Michigan Law Review

When stock indices drop precipitously, when the startup companies fizzle out, and when it stops raining money on places like Wall Street and Silicon Valley, attention turns to downside contracting. Law and business lawyers, sitting in the back seat as mere facilitators on the upside, move up to the front and sometimes even take the wheel. The job is the same on both the upside and downside: to maximize the value of going concern assets. But what comes easily on the upside can be dirty work on the down, where assets need to be separated from dysfunctional teams of business …

Proposal For A Centralized And Integrated Registry For Security Interests In Intellectual Property, William J. Murphy

Law Faculty Scholarship

As the world economy enters the twenty-first century, job and wealth creation is increasingly based on innovation and creativity that, in turn, can give rise to important intellectual property rights. For many companies and individuals these intellectual property rights may represent their most valuable assets, or in some cases, their only valuable assets. As a result, intellectual property rights increasingly play a critical the role in financing.

Unlocking the job and wealth creating potential of intellectual property assets requires putting these assets into use, and that often requires a capital investment. Unfortunately, many entrepreneurs and innovators lack the capital necessary …

The Past And Future Of Implied Causes Of Action Under The Investment Company Act Of 1940, Arthur S. Gabinet, George M. Gowen Iii

Villanova Journal of Law and Investment Management (1999 - 2002)

No abstract provided.

Money Laundering Requirements For Broker-Dealers And Hedge Funds Under The Usa Patriot Act Of 2001, Marc C. Cozzolino

Villanova Journal of Law and Investment Management (1999 - 2002)

No abstract provided.

Introduction To The Symposium On Religion And Investing, Mark A. Sargent

Villanova Journal of Law and Investment Management (1999 - 2002)

No abstract provided.

The Bishops And The Corporate Stakeholder Debate, Stephen M. Bainbridge

Villanova Journal of Law and Investment Management (1999 - 2002)

No abstract provided.

Business And The Common Good In The Catholic Social Tradition, Robert G. Kennedy

Villanova Journal of Law and Investment Management (1999 - 2002)

No abstract provided.

Comments On Bainbridge And Kennedy, Margaret Blair

Villanova Journal of Law and Investment Management (1999 - 2002)

No abstract provided.

Investing In Morality, Samuel Gregg

Villanova Journal of Law and Investment Management (1999 - 2002)

No abstract provided.

During The Tender Offer (Or Some Other Time Near It): Insider Transactions Under The All Holders/Best Price Rule, Michael D. Ebert

Villanova Law Review (1956 - )

No abstract provided.

Civil Liability And Remedies In Ohio Securities Transactions, Keith A. Rowley

Scholarly Works

The Ohio Securities Act (“OSA”) was enacted in 1913 to “guard [ ] investors against fraudulent enterprises, to prevent sales of securities based only on schemes purely speculative in character, and to protect the public from swindling peddlers of worthless stocks in mere paper corporations.” The OSA, which is administered by the Ohio Division of Securities (“Division”) and enforced by both the Division and private litigants, regulates the sale and purchase of securities in Ohio. The OSA and the rules and regulations promulgated pursuant to it by the Division are designed both to encourage compliance by those who might otherwise …

Commercial Law Collides With Cyberspace: The Trouble With Perfection – Insecurity Interests In The New Corporate Asset, Xuan-Thao Nguyen

Articles

The recent downturn in the economy, particularly in the e-commerce sector, reveals many e-companies heading toward bankruptcy with cyberassets, such as domain names, as their most valuable corporate assets. Lending institutions and other creditors that have extended loans to such e-companies obviously want to get their hands on these bankrupt estates. Which creditor will have priority in the new cybercollateral of domain names? The answer to creditor priority questions may depend on whether domain names are intangible property for purposes of secured transactions. If so, should security interests in domain names be perfected under the Uniform Commercial Code or under …

Explorations In The Classroom: A Book Review Of Secured Credit: A Systems Approach, Nathalie Martin

Seattle University Law Review

Students are often surprised by how much they enjoy commercial law. Anyone who finds either money or power interesting is likely to see the potential for fun in a class where these issues are discussed. In a capitalist society, "Money Law" reflects virtually all of our societal values in one way or another, reflects the culture of capitalism at work, and is "Law and Society" in the broadest sense. While most people find it hard to get excited about secured transactions, this sentiment is not likely to last long if the teacher uses Secured Credit: A Systems Approach. Part …

The Impact Of Revised Ucc Article 9 On The Law Of Secured Transactions In West Virginia, Martha M. Nepa

West Virginia Law Review

No abstract provided.

A Tale Of Two Creditors Under The Desultory Lien Creditor And Future Advances Provisions Of Revised Article 9, Natalie Cox

Nevada Law Journal

No abstract provided.

Non-Compete Obligations Of Departing Star Partners And The Right Of Clients To Their Continued Services, Tamar Frankel

Villanova Journal of Law and Investment Management (1999 - 2002)

No abstract provided.

Investment Company Act Of 1940: Why The Time Has Come To Revive Section 3(B)(1), Brian J. Lane, Gillian Mcphee

Villanova Journal of Law and Investment Management (1999 - 2002)

No abstract provided.

Mutual Fund Boards And Shareholder Action, David J. Carter

Villanova Journal of Law and Investment Management (1999 - 2002)

No abstract provided.

Infrastructure For Commerce, Michael B. Likosky

Northwestern Journal of International Law & Business

While the government presents the MSC as the embodiment of the future, structurally it bears remarkable resemblance to the colonial legal orders. The enclave nature of the MSC is reminiscent of the colonial dual legal orders. At the same time, the international legal and economic orders have undergone profound changes. The international legal order is now premised on sovereign absolutism and equality among nation-states. The reigning economic paradigm is high technology rather than manufacturing or the spice trade. Discussion of the continuities and discontinuities between colonial and present day transnational legal orders must thus attend to a number of variables. …