Third Circuit SemCrude Decision Impacts Oil Producers and Purchasers

Insight Douglas J. Schneller Douglas J. Schneller · September 04, 2017
Applying Delaware law, the United States Circuit Court of Appeals for the Third Circuit issued a ruling that will significantly affect the rights of upstream producers of oil and gas and secured creditors generally. The court determined that upstream oil producers did not have automatically perfected security interests in oil they sold

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No Certainty in Future of Privacy Shield as Transatlantic Consultations Set to Begin

Insight Stephen Díaz Gavin Stephen Díaz Gavin · Claudio Palmieri Claudio Palmieri · August 08, 2017
Differences between the U.S. and the EU regarding transfers of Personal Data continue to haunt relations between the two trade giants. Commerce between the U.S. and EU depends on the ability to engage in regular transfer of data.  The Privacy Shield agreed to only last year by the EU and the US was intended to provide companies on both sides

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ICOs, Cryptocurrencies and Tokens – the SEC Speaks

Insight Dror Futter Dror Futter · August 04, 2017
The SEC has issued its first, much anticipated statement on the regulatory status of ICOs (Initial Coin Offerings).   Click here to read our analysis of the questions the SEC answered and, perhaps more importantly, the questions that remain unresolved. Mr. Futter has more than 20 years of high tech and business experience. He

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Non-U.S. Companies Fined for OFAC Violations

Insight Jill M. Williamson Jill M. Williamson · August 03, 2017
Having historically targeted banks, OFAC shows interest in penalizing banks’ customers that send illegal payments through the U.S. financial system.  OFAC's action is significant because it appears to be the first time the entity penalizes a non-U.S., non-financial company for “causing” sanctions violations by

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3rd Circuit and Delaware Bankruptcy Court Hold That “Receipt” Under Bankruptcy Code Section 503(b)(9) Requires Physical Possession

Insight Douglas J. Schneller Douglas J. Schneller · August 03, 2017
Section 503(b)(9) of the Bankruptcy Code provides a seller of goods with an administrative expense claim equal to the value of goods received by the debtor within the 20 day period prior to the bankruptcy filing. Two recent decisions provide important guidance for sellers and buyers of goods on the eve of a debtor’s bankruptcy. Read more

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Getting Rid of the ROT: A Q&A on Data Disposition with John Isaza

Insight John Isaza John Isaza · July 27, 2017
ROT data (Redundant, Outdated, or Trivial) has increasingly become an issue for all types of corporations. Not being able to differentiate between the data that must be kept and the irrelevant data can represent a significant cost and create potential regulatory and other repercussions, such as spoliation sanctions, etc. Many

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U.S. Sanctions Developments: New Opportunities and Risks in Cuba, Iran and Sudan

Insight Jill M. Williamson Jill M. Williamson · July 21, 2017
In the last few years, drastic liberalization has changed the comprehensive U.S. sanctions against Iran and Cuba that had been maintained for decades. Iran sanctions were first enacted in 1979 (with the broad secondary sanctions for foreign subsidiaries only in place since 2012). Cuba sanctions began in 1960. Garnering less fanfare, the U.S. also

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Insolvency of Alitalia Puts Creditors on Notice to Make Claims

Insight Douglas J. Schneller Douglas J. Schneller · Emma R. Larson Emma R. Larson · Stephen Díaz Gavin Stephen Díaz Gavin · Claudio Palmieri Claudio Palmieri · July 20, 2017
The May 2, 2017 bankruptcy filing for Alitalia might be the end of the journey for the troubled Italian flag carrier, but creditors in the U.S., Italy and elsewhere might still have a ticket to recover some claims. Alitalia has now also filed for bankruptcy protection in the U.S. under Chapter 15 of the Bankruptcy Code. Chapter 15 was added

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Maintaining Your Legal Entity Identifier (LEI) Just Got More Invasive

Insight Robin Powers Robin Powers · James Ballard James Ballard · July 17, 2017
Global Market Entity Identifier Utility (GMEI), an LEI issuer, is now requesting information relating to the parents of its registered entities.  The past information collected on an LEI entity, which consisted of self-identifying information, is known as “Level 1 Data.”  The additional information now being requested is

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U.S. Supreme Court: Filing a Time-Barred Claim in a Chapter 13 Bankruptcy Case Does Not Violate the Fair Debt Collection Practices Act

Insight Douglas J. Schneller Douglas J. Schneller · July 11, 2017
The U.S. Supreme Court recently issued a 5-3 decision holding that a creditor filing a proof of claim in a Chapter 13 bankruptcy case for a time-barred debt was not false, deceptive, misleading, unconscionable or unfair conduct in violation of the Fair Debt Collection Practices Act (FDCPA). Learn more here. > You may also find

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