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A Cure By Any Other Name
Section 1123 (a)(5)(G) of the Bankruptcy Code provides that, “[n]otwithstanding any otherwise applicable nonbankruptcy law, a plan shall ' provide adequate means for the plan's implementation, such as ' curing or waiving of any default.” But what, exactly, does it mean to cure a default?
The concept of a “cure” ' both in life and law ' suggests a return to the status quo: What once was ill is ill no longer. However, courts have struggled to come to a consensus on the meaning of cure. With respect to a secured loan, we are all familiar with two standard remedies afforded to a lender as a cure for a sick loan ' default interest and late fees. The question has long been the extent to which a secured lender remains entitled to one or both of these remedies as a condition to cure in a confirmed Chapter 11 plan.
Historical Background
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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?