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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 more than 1 month ago on channel Mondaq

United States: Narrow Interpretation Of "Customer" Under SIPA Is Affirmed By The Second Circuit - Duane Morris LLP

The Second Circuit's affirmation of the narrow interpretation of customer under SIPA is likely to have a broad impact on the remaining Madoff cases before Judge Rakoff in the Southern District of New York, as well as the various SIPA cases currently working their way through courts across the United States.        

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Found more than 1 month ago on channel Mondaq

Senate confirms Mary Jo White as SEC chair 

WASHINGTON -- Mary Jo White, a former federal prosecutor known for being tough on mobsters and terrorists, was confirmed Monday by the Senate as the new head of the Securities and Exchange Commission Monday by the Senate. White received wide bipartisan support in the Senate thanks to her reputation as a former U.S. Attorney for the Southern District of New York. It's a critical time for SEC, t...

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Found more than 1 month ago on channel MSNBC

United States: Second Circuit Upholds Enforceability Of Arbitration Agreements That Bar Title VII Class Actions, Finding That There Is No Substantive Statutory Right To Pursue A Pattern-Or-Practice Claim - Sheppard Mullin Richter & Hampton

The Second Circuit has recently issued its opinion in Parisi v. Goldman Sachs & Co., Case No. 11-5229, reversing a decision from the Southern District of New York, and holding that arbitration agreements which preclude Title VII class actions are enforceable.        

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Found more than 1 month ago on channel Mondaq

United States: SDNY Denies Payment Of Administrative Expense Claim By Relying On The Operative Document As A Whole And Rejecting A Statutory Rule Of Construction - Cadwalader, Wickersham & Taft LLP

On December 13, 2012, Judge Vincent L. Briccetti from the United States District Court of the Southern District of New York denied the appellant Notes Trustee’s request to compel payment of an administrative expense claim.        

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Found more than 1 month ago on channel Mondaq