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From Cradle to Grave: Using Bankruptcy Skills to Advise Clients on New Deals
Part Two of a Two-Part Article
Last month, we discussed the fact that of the many hats worn by leasing attorneys, one is of the bankruptcy practitioner. It is a skill set that usually comes into play at the end of a transaction gone bad. This article continues outlining the case for ending this practice and having bankruptcy counsel get involved in lease deals from the outset.
SIXTH RULE: GET A SECURITY INTEREST. Unsecured creditors may be last on line to get a distribution in a bankruptcy case, if any, and are unable to obtain relief from the stay to enforce their remedies. Secured creditors also get post-petition interest and attorneys' fees to the extent that the value of their collateral exceeds the amount of their pre-petition claim. They also are entitled to adequate protection if their collateral is used or sold, and have special protections in a cram down, giving them great leverage in a bankruptcy case. Accordingly, bankruptcy lawyers know that it is a good idea to find out what free assets a debtor has before the deal is done and bargain for a first priority security interest.
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.
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.
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.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?