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In the Courts
NCUA Win in Barclays Case May Hurt Credit Suisse, Other Banks
In a decision likely to have a spillover effect on other big banks, a federal appeals court has reinstated claims by the National Credit Union Administration (NCUA) against Barclays PLC over the sale and underwriting of allegedly shoddy mortgage-backed securities.
The U.S. Court of Appeals for the Tenth Circuit last month revived an NCUA lawsuit alleging that Barclays' residential mortgage-backed securities (RMBS) business played a role in the collapse of two major federal credit unions. Barclays, defended by Sullivan & Cromwell, is one of several banks the NCUA has accused of misrepresenting the quality of RMBS they sold prior to the financial crisis.
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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?