BY DAVID FRISCH Has it really been twenty-two years since Geoffrey C. Hazard, then director of the American Law Institute, asked Professors Charles W. Mooney and Richard E. Speidel to investigate the need to update Article 2 of the Uniform Commercial Code (U.C.C.)? As a result of their preliminary study, […]
Archive for May, 2012
Application of the U.C.C. to Nonpayment Virtual Assets or Digital Art
BY SARAH HOWARD JENKINS Innovative business practices, novel modes of ordering commercial relationships, and neoteric commercial behavior which deviate from established patterns are challenging the application of existing legal rules and principles to modern day disputes. Yet, wholesale disregard for existing legal principles is often unnecessary as the recent expansion […]
Auction Rate Securities = Auction Risky Securities
BY AMOD CHOUDHARY While the financial world was obsessed with the sub-prime mortgage crisis that resulted in a staggering loss of at least $380 billion dollars, a related and equally potent occurrence in the auction rate securities market did not catch the attention of the American public. The reason for […]
Sarbanes-Oxley Section 307 Domestically and Abroad: Will Section 307 Lead to International Change?
BY SCOTT H. MOLLETT The enactment of the Sarbanes-Oxley Act (the “Act”) was a seminal event in American securities regulation. Prompted by the spectacular collapse of Enron and other corporate scandals, the Act further developed the United States shareholder-oriented corporate governance mechanisms: a more independent, accountable board, and more technical […]
The United States Bankruptcy Code Stamp-Tax Exemption, § 1146(a)…
BY CRAIG JOSEPH SPERLAZZA The United States Supreme Court found in favor of the Petitioner holding that the Bankruptcy Code’s stamp- tax exemption, § 1146(a), applies only to transfers made under the authority of a Chapter 11 plan that has been previously confirmed. Continue Reading>
Injured Investors are Without a Private Right of Action Against Aiders and Abettors of Primary Actors Where the Investors Did Not Rely on the Secondary Actors…
BY DENNIS HOUGH The Supreme Court of the United States affirmed the judgment of the Court of Appeals for the Eighth Circuit by denying an injured investor‘s private right of action against aiders and abettors of the primary actor because the investor did not rely on the secondary actors‘ actions. […]
