UCC

North Dakota Amends UCC To Require Electronic Recording

by BuckleySandler LLP on 5/8/2013

On April 30, North Dakota enacted HB 1136, which compels the Secretary of State to provide an electronic means for filing any record required to be filed under the state Uniform Commercial Code. ...more

Negotiating Construction Equipment Leases; Getting Beyond the Battle of the Forms

by Lawrence Melton | Nexsen Pruet, PLLC on 4/29/2013

A. THE PROBLEM: “I want it on the jobsite yesterday!” In buying out a construction project, a general contractor (GC) or a subcontractor will likely negotiate and enter into equipment leases that cost, on an...more

Paris Energy Series No. 7: Take-or-pay Conditions in Gas Supply Agreements

by Michael Polkinghorne | White & Case LLP on 4/19/2013

I. Introduction - Take-or-pay provisions are now fairly common in long-term offtake and supply agreements in the energy sector, a notable example being gas supply agreements. In essence, take-or-pay provisions...more

In Addition To Natural Gas Providers And Water Providers, Bankruptcy Courts Are Now Allowing Electricity Providers To Claim...

by Elizabeth Aboulafia, Gregory G. Nickson | Cullen and Dykman LLP on 3/21/2013

Recent case law may allow electricity providers to benefit from a payment priority for the value of electricity provided to a bankrupt debtor during the twenty (20) days preceding the date of the debtor’s bankruptcy filing...more

A Key Lesson for Owners and Prime Contractors About Payments

by Duane Morris LLP on 3/14/2013

Consider the following scenario: A prime contractor with a financially-shaky subcontractor agrees with the subcontractor's secured lender to make payments directly to the lender, but the word is not passed along to the...more

When NJ Banks Are Liable For 3rd-Party Fiduciary Breach

by Steven Beckelman | McCarter & English, LLP on 1/30/2013

Originally published in Law360, New York on January 29, 2013. Banks, broker/dealers and other financial institutions often are the subject of claims by noncustomer investors, businesses, and estate and trust...more

EU Customs Practice Group - December 2012

by White & Case LLP on 1/22/2013

In This Issue: EU CUSTOMS POLICY: - MCC recast/UCC - 2012 revision of the Electronic Customs Multi-Annual Strategic Plan - Council Conclusions on the Progress on the Strategy for the Evolution of the...more

Montana Bankruptcy Court Confirms Electricity Is a “Good” Under the Bankruptcy Code

by Hugh McCullough, Vidhya Prabhakaran | Davis Wright Tremaine LLP on 1/14/2013

The United States Bankruptcy Court for the District of Montana in connection with In re Southern Montana Electric Generation and Transmission Cooperative, Inc. held that electricity was a “good” for purposes of section...more

Real Estate Tip – Avoid a Grinch-y No Coverage Surprise: Add a UCC Policy to Your Title Insurance Checklist

by Richard Smith | Bernstein Shur on 12/15/2012

No matter the time of year, an unknown lien against income producing assets may turn the jolliest landlords and tenants into humbugs. Owner’s or leasehold owner’s title insurance policies protect real estate interests, but as...more

Recent Changes to Article 9 of the North Carolina Uniform Commercial Code

by Brian F. Corbett, Charles A. Pettigrew | Poyner Spruill LLP on 12/13/2012

In 2010 the National Conference of Commissioners on Uniform State Laws and the American Law Institute proposed amendments to Article 9 of the Uniform Commercial Code, commonly referred to as the 2010 Amendments. During the...more

Check Lender Reservations on Hotel Deals: Asset-specific issues prompt a closer look from lenders at hotel collateral

by Lorelei A. Schumacher | Bilzin Sumberg Baena Price & Axelrod LLP on 12/8/2012

Funding is returning slowly for hotel properties, as many lenders have learned the hard way that hotels can be tricky collateral. Commercial mortgage brokers can expect these lenders to be more cautious when reviewing hotel...more

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