United States: Unauthorized UCC Filings: A Cautionary Tale In The Absence Of Requisite Authority To File, A UCC Termination Statement Is Ineffective To Bring A Perfected Security Interest To An End - Milbank, Tweed, Hadley & McCloy LLP
A recent decision by the United States Bankruptcy Court for the Southern District of New York found that a UCC-3 termination statement filed on behalf of a secured creditor was not effective because it lacked the proper authorization.
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Found 1 month ago on channel
Mondaq
Hay — the Stuff Horses Eat — Is the Latest Weird Item Targeted by Thieves
Never mind hunting for a needle in a haystack — what if you’re hunting for the actual haystack? Last summer’s drought across the nation’s agricultural belt has led to a spate of hay thefts as farmers face record prices for this crucial livestock feed. Industry publication Farm Progress reports that hay that should have been worth around $200 sold for record highs of around $320 a ton at auction. It’s just supply and demand, auction manager Dale Leslein told the magazine. Oklahoma is screaming for hay… Missouri is running short; Nebraska is very tight as is Iowa, Wisconsin, Illinois, Indiana, Tennessee and Kentucky. They’re all running out of hay. Some thieves will just sneak away with a couple of bales and hope the owner doesn’t notice them missing, authorities in Missouri say. Others are more brazen: The Denver Post says one group of criminals made off with $5,000 worth of hay in a front-end loader back in September. The biggest problem for farmers is that it’s virtually ...
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SAC Capital: Feds Are Probing Insider Trading Scandal
SAC Capital, the giant hedge fund run by billionaire Wall Street titan Steven A. Cohen, informed its clients on Wednesday that the firm is under investigation by the Securities and Exchange Commission, according to multiple reports. In a brief 8 a.m. conference call, Tom Conheeney, SAC’s president, told clients that the $14 billion hedge fund has received a so-called Wells Notice from the SEC, which is often a precursor to formal charges, according to multiple reports. SAC is grappling with the fallout from a federal insider trading investigation, following the arrest of one of its former portfolio managers, Mathew Martoma, who is accused of orchestrating a $276 million fraud. Martoma, who appeared on $5 million bail in U.S. federal court on Monday in New York City, has been charged with misusing information he got from a University of Michigan doctor involved in an important pharmaceutical drug trial in 2008. Martoma, a 38-year-old graduate of Stanford Business School, has been charged ...
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Twitter CEO Dick Costolo on Jack Dorsey, ad revenue, going public
Friday, October 12, 2012 - 03:00 Justin Sullivan/Getty Images Twitter CEO Dick Costolo. Corner Office Interview: Biz Stone and Evan Williams Twitter unveils advertising platform Twitter and your privacy Twitter may block tweets in certain countries Listen: Twitter solves mobile ad riddle Twitter CEO Dick Costolo rarely gives interviews. But just a week after the Silicon Valley executive made headlines in The New York Times for alleging that Twitter founder Jack Dorsey’s role in the company was diminished, Marketplace Morning Report host Jeremy Hobson got more than 140 characters worth of answers from Costolo in a one-on-one interview. He answers questions about Dorsey’s current involvement with the company, Twitter's position on censorship, the company's advertising business, and he responds to rumors about Twitters plans to go public. Jeremy Hobson: It was created in 2006, it is the home of 140 character tweets and it now has hundreds of millions of users. I am talking, of course, about ...
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Exclusive: Credit Suisse probed by U.S. over mortgages - sources
NEW YORK - U.S. federal and state authorities are investigating Credit Suisse AG over mortgage-backed securities packaged and sold by the bank, people familiar with the probe said on Thursday.
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Found more than 1 month ago on channel
Reuters