Complying with the United State Foreign Corrupt Practices Act

Roger Witten, Kimberly Parker, Jay Holtmeier — Tue, 22 Dec 2009 09:49:50 GMT

Enforcement of the United State Foreign Corrupt Practices Act ("FCPA") has reached record highs in recent years. With this increase in FCPA enforcement attention, companies act at their peril when they do business internationally without a well-developed anti-bribery compliance program. Smaller companies with modest but expanding inte

Transfers of Cash Proceeds Under U.C.C. Article 9

Margit Livingston — Fri, 18 Dec 2009 10:37:06 GMT

Despite a pro-secured creditor treatment of cash proceeds, the Uniform Commercial Code puts at least one significant limitation on the secured party's ability to recover cash proceeds upon the debtor's default. If the debtor transfers cash proceeds to certain good faith transferees, those transferees take free of even perfected security interes

The Proposed Consumer Financial Protection Agency

Jennifer Martin — Mon, 14 Dec 2009 15:59:33 GMT

A Consumer Financial Protection Agency has been put forth as one of the proposals to address regulatory deficiencies that allowed of institutions offering those selling consumer financial products to overreach. Professor Jennifer Martin looks at the proposed legislation to create a new federal consumer protection agency.

Changes to the Illinois Franchise Disclosure Law Effective October 1, 2009

Beata Krakus — Mon, 07 Dec 2009 16:47:24 GMT

In light of the Amended FTC Franchise Rule, the Illinois Attorney Generals Office undertook an ambitious project to revise the Illinois Franchise Disclosure Act of 1987 and certain related statutes to make the statute fit better with the federal regulatory scheme, and also remedy some other ailments of the Act. This analysis discusses the key c

New Texas Series LLC Provisions in Texas Business Organizations Code

Daryl B. Robertson — Mon, 07 Dec 2009 09:28:15 GMT

Excerpt:

New amendments have been made to the Texas Busine

Hertz Corp. v. Melinda Friend, et al.

James M. Wilson, Jr. — Mon, 30 Nov 2009 09:32:28 GMT

On November 10, 2009, the Supreme Court heard oral argument in Hertz Corp. v. Melinda Friend, case to determine an unsettled jurisdictional question that arises in federal courts: for purposes of diversity jurisdiction, where is a company’s principal place of business? That term, which was added to Section 1332 of the USC purportedly to p

Recent Activity Regarding Waiver of Article 9 Security Interests in the Third Circuit

Margit Livingston — Wed, 25 Nov 2009 16:21:40 GMT

Article 9, provides that a security interest continues in collateral notwithstanding sale or other disposition of the collateral unless the secured party authorized the disposition free of the security interest. A 2009 Third Circuit opinion faced the issue of whether the secured partys passive acquiescence in the debtors disposition of collater

The Federal Stimulus Packages Impact on Executive Compensation

Laurie E. Leader — Mon, 23 Nov 2009 13:23:53 GMT

While TARPs requirements are technically limited to the most highly paid employees in the companies receiving TARP funds, they promise to have far-reaching implications for executive compensation best practices. This Emerging Issues Analysis discusses the current requirements for executive compensation under TARP, their potential long-range eff

Collateral Descriptions on Article 9 Financing Statements

Margit Livingston — Tue, 13 Oct 2009 08:27:15 GMT

Under the U.C.C., to be effective, a filed financing statement must contain the debtors name, the secured partys name (or the name of its representative), and an indication of the collateral. In a recent decision, the Eighth Circuit Court of Appeals held that the secured party’s indication of collateral, although containing some errors, w

Benton on the Jurisdictional Provisions of the Carmack Amendment

Eric R. Benton — Wed, 23 Sep 2009 12:32:43 GMT

Pursuant to the North American Free Trade Agreement (NAFTA), shipments to and from the United States to Canada and Mexico are increasing. When a shipment is lost or damaged, the courts are faced with the question of whether the full liability provisions of the Carmack Amendment are applicable or whether the limited liability provisions of Mexico and Canada should be applied. This commentary by Eric B

The 10 Commandments in Preventing Cyber Crime for Small Businesses

Lee M. Zeichner — Tue, 22 Sep 2009 16:35:33 GMT

Statistics show that cyber criminals increasingly are targeting small businesses to steal personal information because they lack the cyber defenses in which large enterprises have begun to invest significant time and resources. As small businesses increasingly find themselves in the crosshairs of cyber crime, they must ensure they implement the

Trade Names on Article 9 Financing Statements

Margit Livingston — Tue, 22 Sep 2009 16:24:10 GMT

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Beware the "Zombie" Debt Collectors: Consumer Rights Abuses by Purchasers of Old and Uncollected Debt

Michael Forbes — Mon, 21 Sep 2009 08:57:58 GMT

One of the most profitable sub-industries within the credit card industry is what is known as "Zombie" debt collection. Zombie debt is old and uncollected debt purchased for pennies on the dollar by collection agencies, which then collect on debt for which they couldnt otherwise sue. The Fair Debt Collection Practices Act provides onl

First Do No Harm: The Discount Protection Consumer Protection Act And The Potential Procompetitive Effects Of Resale Price Maintenance

James A Wilson — Tue, 25 Aug 2009 11:56:47 GMT

Few antitrust decisions of the Supreme Court have evoked the rhetorical intensity of Leegin Creative Leather Products, Inc. v. PSKS, Inc. ("Leegin"), in which the Supreme Court held that minimum resale price maintenance should be judged under a rule-of-reason rather than a per se standard.1 Senator Herb Kohl has asserted that "[o]ur experience since the Leegin decision is

A Return to the Classic Analysis of Liquidated Damages Clauses

Dr. John Murray, Jr. — Mon, 27 Jul 2009 13:01:52 GMT

The links below may be accessed by lexis.com subscribers. Non-subscribers may obtain research packages by the day, week, or month at lexisONE

Mandatory Combined Reporting -- A North Carolina Practice Insight

Andrew W. Swain — Mon, 20 Jul 2009 13:24:40 GMT

Many multi-state corporations operate in states that do not require combined reporting and that employ one or more tax-avoidance strategies to reduce their overall tax liability, causing significant declines in corporate tax revenues. Mandatory combined reporting counters such strategies by treating businesses composed of multiple entities as a single entity for tax purposes. In this Analysis, Andrew Swain: (1)

How the Business Community Can Help Judges Crack Down on Identity Theft

Lee M. Zeichner — Tue, 14 Jul 2009 12:52:59 GMT

The U.S. judiciary has looked to the private sector for input on how to strengthen penalties for committing identity theft crimes. Small businesses, in particular, are becoming more frequent targets for hackers and cyber criminals because they lack the information security defenses in which large enterprises have begun to invest significant time and resources.

Backgrounder: FACTA Truncation Requirements and Card Expiration Dates

Matthew Bender Editorial Staff — Mon, 22 Jun 2009 15:55:23 GMT

The Fair Credit Reporting Act requires that the credit and debit card information printed on customer receipts not display the expiration date of the card and no more than the last five digits of the card number. This backgrounder examines that requirement.

     The

Backgrounder: Obama Administrations Plan for Financial Regulatory Reform

Matthew Bender Editorial Staff — Mon, 22 Jun 2009 15:11:44 GMT

On June 17, 2009, President Obama proposed plans for sweeping changes to our financial regulatory system to better oversee the complex system of financial products and services and prevent future financial crises. This backgrounder provides an overview of that plan.

     For m

Emerging Issues for Nonprofits--Release or Modification of Restrictions on the Use of Funds

James M. Wilson, Jr. — Mon, 15 Jun 2009 16:26:33 GMT

As the economy worsens and donations dwindle, many nonprofit charities are experiencing increasing financial strains just to keep the doors open. Tapping into reserves to cover general costs in tough times is not always an option. If a donor does not wish his contribution to fund administrative or general overhead costs, then the nonprofit may face hur

Backgrounder: Cities Try to Recoup Foreclosure Costs From Lenders/Developers

Matthew Bender Editorial Staff — Mon, 15 Jun 2009 13:51:47 GMT

The current financial crisis began quietly in the subprime mortgage market and quickly attained a level unimaginable just a short time ago. Nearly two years later, large cities across our nation are dealing with a host of issues related to the rising tide of foreclosures. Several cities have tried to recoup their costs related to the epidemic of foreclosures, both in federal and state court, and under a variety o

Lapine on City of Cleveland v. Ameriquest Mortgage Securities, Inc.

Ken Lapine — Mon, 15 Jun 2009 13:05:00 GMT

In City of Cleveland v. Ameriquest Mortg. Sec., Inc., 2009 U.S. Dist. LEXIS 41303 (N.D. Ohio May 15, 2009),

The Legislative Effort to Reverse the Supreme Court's Leegin Decision

James M. Wilson, Jr. — Thu, 04 Jun 2009 14:50:33 GMT

In 2007, the U.S. Supreme Court overturned the rule that prohibited suppliers from setting the minimum resale price at which retailers could sell their products. This decision was viewed as a threat to the retail market, including small businesses and internet retailers that rely on discounting to attract customers. In response, federal legislation is

Current Developments in State and Federal Regulation of Swaps and Derivatives

James S. Gkonos and Mark C. Cawley — Mon, 01 Jun 2009 09:39:51 GMT

Recent pronouncements from the New York Insurance Department and the Missouri Insurance Department have concluded that some credit derivatives are "insurance" and are to be regulated as such. In this Commentary, James Gkonos and Mark Cawley explore recent proposals to exert regulatory authority over the largely unregulated credit default swap market by the New York Insurance Department and the federal government. Th

Strict Foreclosure Under U.C.C. Article 9

Margit Livingston — Wed, 29 Apr 2009 16:05:03 GMT

In the current troubled economic climate, secured creditors and debtors alike are finding themselves in the unenviable position of having to go through default and foreclosure. When debtors are no longer able to make their monthly installment payments, secured parties are faced with having to repossess collateral and either conduct a foreclosur

Backgrounder on the Treasury Department's Public-Private Investment Program

Matthew Bender Editorial Staff — Mon, 27 Apr 2009 08:02:56 GMT

This backgrounder briefly describes the U.S. Treasury Department's latest plan for dealing with the banking and financial crisis, the Public-Private Investment Program. It states in part:

     On March 23, the U.S. Treasury Department outlined its latest plan for deali

Pangrace and Lapine on the Consumer Credit Card Account Practices Rules

Kenneth M. Lapine and Nathan J. Pangrace — Wed, 22 Apr 2009 08:59:08 GMT

In January 2009, the Federal Reserve Board, the OTS (Office of Thrift Supervision), and the NCUA (National Credit Union Administration) adopted the Consumer Credit Card Account Practices Rules designed to protect consumers who use credit cards from unfair acts and practices. In this Commentary, Nathan Pangrace and Ken Lapine explain each of the five new rules, effective July 2010, that apply to financial institutions and specu

New Disclosures for Subprime Mortgages Under the Truth in Lending Act

Margit Livingston — Mon, 13 Apr 2009 18:45:13 GMT

As the national economic crisis has worsened throughout 2008 and into 2009, many homeowners have faced the prospect of foreclosure. Some of these homeowners entered into subprime mortgages that carried higher than average interest rates. These borrowers found themselves unable to keep up with their relatively high monthly mortgage payments, very little

LexisNexis Commercial: Commercial

Joint Patent Owners, Although Free to Use Patented Technology Without Regard to the Other, May Vary Their Rights by Contract

New Legal Duty of Care for Disaster Preparedness for Businesses

Putative Leases as Article 9 Secured Transactions

The Supreme Court's Decision in Hertz Corp. v. Melinda Friend, et al.

Materialmen's Liens in Texas

New Federal Reserve Rules Require Customers to Opt-In to Overdraft Services

Complying with the United State Foreign Corrupt Practices Act

Transfers of Cash Proceeds Under U.C.C. Article 9

The Proposed Consumer Financial Protection Agency

Changes to the Illinois Franchise Disclosure Law Effective October 1, 2009

New Texas Series LLC Provisions in Texas Business Organizations Code

Hertz Corp. v. Melinda Friend, et al.

Recent Activity Regarding Waiver of Article 9 Security Interests in the Third Circuit

The Federal Stimulus Packages Impact on Executive Compensation

Collateral Descriptions on Article 9 Financing Statements

Benton on the Jurisdictional Provisions of the Carmack Amendment

The 10 Commandments in Preventing Cyber Crime for Small Businesses

Trade Names on Article 9 Financing Statements

Beware the "Zombie" Debt Collectors: Consumer Rights Abuses by Purchasers of Old and Uncollected Debt

First Do No Harm: The Discount Protection Consumer Protection Act And The Potential Procompetitive Effects Of Resale Price Maintenance

A Return to the Classic Analysis of Liquidated Damages Clauses

Mandatory Combined Reporting -- A North Carolina Practice Insight

How the Business Community Can Help Judges Crack Down on Identity Theft

Backgrounder: FACTA Truncation Requirements and Card Expiration Dates

Backgrounder: Obama Administrations Plan for Financial Regulatory Reform

Emerging Issues for Nonprofits--Release or Modification of Restrictions on the Use of Funds

Backgrounder: Cities Try to Recoup Foreclosure Costs From Lenders/Developers

Lapine on City of Cleveland v. Ameriquest Mortgage Securities, Inc.

The Legislative Effort to Reverse the Supreme Court's Leegin Decision

Current Developments in State and Federal Regulation of Swaps and Derivatives

Strict Foreclosure Under U.C.C. Article 9

Backgrounder on the Treasury Department's Public-Private Investment Program

Pangrace and Lapine on the Consumer Credit Card Account Practices Rules

New Disclosures for Subprime Mortgages Under the Truth in Lending Act