Uniform Commercial Code/Article 9

SIPA Bars General Unsecured Claims for Failure to Transfer Accounts Before Filing

The trustee for a bankrupt broker can ignore an individual customer’s request to transfer securities to a solvent broker and may instead transfer customer accounts in bulk.

Future-Advance Clauses: Saving Lien Priority and Perfection in Subsequent Loans

April 2018

Litigation Finance and the Issues It Creates in Bankruptcy

April 2018

A Future Advance Clause Saved a Loan from Being Unperfected

Potential harm to the debtor is not a factor in deciding to avoid an unperfected lien.

Keeping Consigned Merchandise Away from a Consignee’s Creditors

Dec 2017

Reperfecting a Mortgage Isn’t Grounds for a Fraudulent Transfer

Mistakenly cancelling a mortgage can result in a preference but not a fraudulent transfer if the cancellation is later rescinded.

Benchnotes November 2017

Nov 2017

Short Arguments on Interesting Chapter 11 Topics

Goods Delivered Directly to a Debtor’s Customers Never Qualify for 503(b)(9)

Judge Shannon writes an important decision for the era of ecommerce.

Receipt under Section 503(b)(9) Occurs on Physical Possession, Third Circuit Holds

Third Circuit aids suppliers because ‘receipt’ can occur after ‘delivery.’