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The Bankruptcy Hotline
'Bona Fide Dispute' Should Be Determined ASAP in Involuntary Filing
The Second Circuit has held that a bankruptcy court's determination that a debt is the subject of a 'bona fide dispute' under the Bankruptcy Code should be made as soon as possible in an involuntary proceeding. Key Mechanical Inc. v. BDC, 56 LLC, 02-5029 (May 21).
Section 303(b), states that an involuntary case against a debtor is commenced when three or more entities have a claim 'that is not contingent as to liability or the subject of a bone fide dispute.' The timing for this determination, however, has divided courts, with some judges finding the question should be decided immediately, and others allowing the question to be resolved later in the proceedings.
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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.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?