The ABCs of the UCC: Related Insolvency Law

by Miller, Frederick H.

• ISBN13: 9781590310496
• ISBN10: 1590310497
• Format: Paperback
• Copyright: 2002-09-01
• Publisher: Natl Book Network

Summary

This Third Edition's thoroughly updated 40-page index incorporates new Article 9 terms for fast easy look-ups.

Table of Contents

Preface	ix
Overview of Bankruptcy and Insolvency Law	1	(18)
Introduction	1	(1)
Illustrative Bankruptcy Definitions	2	(2)
Eligibility	4	(3)
Introduction	4	(1)
Chapter 7 Eligibility	4	(1)
Chapter 11 Eligibility	5	(1)
Chapter 13 Eligibility	5	(1)
Chapter 12 Eligibility	6	(1)
Overview of Chapter 7 Bankruptcy	7	(1)
The Chapter 7 Bankruptcy Process	7	(3)
Overview of Chapter 11 Bankruptcy	10	(4)
Advantages for the Debtor	10	(1)
The Chapter 11 Plan	11	(2)
The Chapter 11 ``Cram Down''	13	(1)
Other Requirements for Chapter 11 Plan Confirmation	13	(1)
Overview of Chapter 13 Bankruptcy	14	(5)
Purpose of Chapter 13	14	(1)
Chapter 13's Broader Discharge Provisions	15	(1)
Chapter 13's Broader Eligibility Requirements	16	(1)
Chapter 13s Broader Automatic Stay	16	(1)
Modification of Secured Claims under Chapter 13	16	(1)
Managing a Business under Chapter 13	17	(1)
Classes of Claims under Chapter 13	18	(1)
The Bankruptcy Code in General	19	(34)
Introduction	19	(1)
The Automatic Stay	20	(2)
Bankruptcy Priority Rules	22	(2)
Use of Collateral, Proceeds, Cash Collateral, and the Creditor's Right of Setoff	24	(2)
Introduction	24	(1)
Use of Cash Collateral	24	(2)
The Trustees ``Strong Arm'' Powers	26	(20)
Introduction	26	(1)
Code § 544(a): The Trustee's Status as Hypothetical Lien Creditor	27	(2)
Code § 544(b)	29	(1)
Code § 545 and Statutory Liens	30	(3)
Code § 547: Security Interests and Liens as Preferential Transfers	33	(1)
Introduction and Overview	33	(1)
The Purchase-Money Exception	34	(1)
The Automatic Stay and Other Concerns	34	(1)
Extended State Law Grace Periods	35	(2)
The ``Contemporaneous Exchange of Value'' Exception to Code § 547(b)	37	(3)
The Triangular Preference Problem	40	(2)
The Fraudulent Transfer Rules	42	(1)
Introduction	42	(1)
The Security Interest as Fraudulent Transfer	43	(1)
The Durrett Issue	44	(1)
Lien Avoidance under Code § 522(f)	45	(1)
The Right of Setoff in Bankruptcy	46	(7)
Introduction	46	(1)
Bankruptcy Code §§ 362 and 553	47	(1)
Freezing the Account	48	(2)
Post-Petition Setoff	50	(3)
U.C.C. Article 9 and Insolvency Law	53	(32)
Introduction	53	(2)
Summary of the Article 9 Revisions	55	(9)
Introduction and New Vocabulary	55	(1)
Uniform Forms Provided in Statute	56	(1)
Centralized Filing the Norm	56	(1)
Rules for Identifying the Debtor Clarified and the Test of Identification Standardized	57	(1)
Generic Financing Statement Descriptions Allowed	57	(1)
The Debtor Is No Longer Required to Sign the Financing Statement	57	(1)
Risk of Refused Filing Shifted to Filer; Reasons for Refusal Limited	58	(1)
Electronic Agreements Allowed	58	(1)
Definition of ``Proceeds'' Expanded and Tracing Approved	58	(1)
Definition of Purchase-Money Security Interest Expanded and Clarified; Dual-Status Rule Adopted	59	(1)
Choice of Law for Perfection Issues	59	(2)
Changes in Priority Rules	61	(1)
Transition Rules	61	(3)
Enforcement	64	(1)
Expanded Scope of Revised Article 9	64	(8)
Introduction	64	(1)
Sales of Accounts and General Intangibles	65	(2)
Deposit Accounts	67	(3)
Agricultural Liens	70	(2)
Article 9 and the Bankruptcy Strong Arm Powers	72	(3)
Bankruptcy Impact of the Article 9 Filing and Perfection Standards	75	(4)
Contents of Financing Statement	75	(1)
The ``Seriously Misleading'' Rule	76	(1)
Choice of Law	77	(1)
Description of Collateral	77	(1)
Perfection by Possession	78	(1)
Conclusion: Bankruptcy Impact of Revised Article 9	78	(1)
Free Assignability of Contract Rights	79	(1)
Article 9 Proceeds in Bankruptcy	80	(3)
Conclusion: Article 9 and Insolvency	83	(2)
U.C.C. Articles 2 and 2A and Insolvency Law	85	(10)
Scope of Articles 2 and 2A	85	(1)
Reclamation	86	(6)
Right to the Goods on Breach or Default under State Law	86	(1)
Bankruptcy Limitations in Connection with a Lease	87	(3)
Bankruptcy Limitations in Connection with a Sale	90	(2)
Executory Contracts and Unexpired Leases	92	(3)
U.C.C. Articles 3,4 and 4A and Insolvency Law	95	(20)
Article 3	95	(9)
Scope and Function of Article 3	95	(1)
Article 3 and Insolvency Law	96	(1)
Enforcement of the Instrument	96	(2)
Impact of Federal Banking Law	98	(3)
Rights	101	(1)
Bankruptcy Preference Issues	102	(1)
Liability on the Instrument	103	(1)
Article 4	104	(6)
Scope of Article 4	104	(2)
Article 4 and Insolvency Law	106	(1)
Check Kiting	106	(2)
Impact of Article 4 Rules Governing Provisional and Final Payment	108	(1)
Impact of Article 4 in the Event of Bank Insolvency	109	(1)
Article 4A	110	(5)
Scope of Article 4A	110	(1)
Article 4A and Insolvency Law	111	(4)
U.C.C. Article 5 and Insolvency Law	115	(10)
Scope and Operation of Article 5	115	(1)
Preferential Transfers	116	(2)
The Basic Preference Issue	116	(1)
Variations on the Preference Theme	117	(1)
Applicant Insolvency	118	(3)
Other Insolvency Issues	121	(4)
Issuer Insolvency	121	(1)
Transferability and Subrogation	122	(1)
D'Oench Duhme Doctrine	123	(2)
U.C.C. Article 7 and Insolvency Law	125	(8)
Scope and Operation of Article 7	125	(2)
Article 7 and Insolvency	127	(6)
Agricultural Issues	127	(3)
Other Issues	130	(3)
U.C.C. Article 8 and Insolvency Law	133	(8)
Scope of Article 8	133	(2)
Direct Holding	133	(1)
Indirect Holding	134	(1)
Article 8 and Insolvency Law	135	(6)
Direct Holding	135	(3)
Indirect Holding	138	(3)
Conclusion	141	(4)
Bibliography	142	(3)
Uniform Commercial Code	142	(1)
Insolvency Laws	143	(2)
About the Authors	145