The UCC‑1 form is a staple of any secured lending practice. In the wake of the 2022 proposed Uniform Commercial Code (UCC) amendments, which have been adopted in 24 jurisdictions, many jurisdictions have updated their UCC‑1...more
In our prior alert over the summer, we highlighted the Delaware Supreme Court’s decision in Stream TV Networks, Inc. v. SeeCubic, Inc., 279 A.3d 323, 329 (Del. 2022) (“Stream TV”), which held an insolvent corporation could...more
As discussed in Part I of this series, NFT-based lending is pioneering a new avenue of investment and activity on the blockchain that will enable new and innovative use cases. In this Part II, we will discuss the implications...more
On July 5, 2022, cryptocurrency brokerage Voyager Digital filed for chapter 11 in the Southern District of New York Bankruptcy Court, citing a short-term “run on the bank” due to the “crypto winter” in the cryptocurrency...more
7/18/2022
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Cryptoassets ,
Cryptocurrency ,
Financial Services Industry ,
Liquidation ,
Proposed Amendments ,
Reorganizations ,
Uniform Commercial Code (UCC)
Megamergers that deprive the American consumer of competition are illegal. But the urge to merge is often so strong that antitrust risks rarely prevent behemoths from the attempt. Long before parties sign deals, issue press...more
10/12/2020
/ Acquisitions ,
Breach of Contract ,
Competition ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
Hell or High Water Clauses ,
Merger Agreements ,
Mergers ,
Permanent Injunctions ,
Risk Allocation
The COVID-19 pandemic has fundamentally altered the way we live and conduct business. Most non-essential businesses have closed their offices and established entirely remote workforces, and many individuals may be in...more
4/24/2020
/ Best Practices ,
Choice-of-Law ,
Coronavirus/COVID-19 ,
E-SIGN ,
E-Signatures ,
Electronic Agreements ,
Executive Orders ,
Federal Reserve ,
Public Notaries ,
Remote Working ,
Signatures ,
State and Local Government ,
Telecommuting ,
UETA ,
Uniform Commercial Code (UCC) ,
Virtual Notarization Procedures ,
Written Agreements
Last July, the Uniform Law Commission completed a uniform model state law, known as the Uniform Regulation of Virtual-Currency Businesses Act (“URVCBA” or the “Act”) (Steve Weise participated in the preparation of the Act)....more
Under a New York law in effect for decades, the top 10 shareholders of a privately held New York corporation can be held liable in certain circumstances for amounts owed to the corporation's employees. On January 19, 2016,...more