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November 7, 2014
The Supreme Court of Delaware recently held, in answering a question certified to it by the United States Court of Appeals for the Second Circuit, that a termination statement authorized to be filed by the secured party becomes effective to terminate the related financing statement regardless of the secured party’s actual intent regarding the filing. Official Committee of Unsecured Creditors of Motors Liquidation Company v. JPMorgan Chase Bank, 2014 WL 5305937 (Del. Supr. Oct. 17, 2014) (General Motors). The case presents the difficult issue of whether or when a lender can rely on the UCC record and, in particular, the effectiveness of a filed UCC termination statement.

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November 5, 2014
An interesting case on securities accounts from the United States Bankruptcy Court for the Eastern District of Pennsylvania addressed the issue of whether a creditor’s perfected security interest in a securities account remained perfected in sub-accounts that were created post-closing. In re GEM Refrigerator Co., 512 B.R. 194 (Bankr. E.D. Pa. 2014).
November 3, 2014
Late Friday afternoon (October 31, 2014), the Center for Medicare & Medicaid Services (CMS) announced it will not be enforcing the regulations relating to unique health plan identifiers (HPIDs) until further notice. The enforcement delay applies to all HIPAA-covered entities, including health plans.
October 29, 2014

California is now the second state in the country to pass a statewide paid sick leave law. The Healthy Workplaces, Healthy Families Act (the “Act”) requires nearly every employer in the state to provide its employees with one hour of paid leave for every 30 hours worked, up to 24 hours per year. The Act’s benefit entitlement provision takes effect July 1, 2015, although some provisions arguably take effect sooner.

October 24, 2014

It has been a while since the SEC moved forward with any rulemaking under the Dodd-Frank Act. In fact, the last action taken by the SEC was in December 2013 when it approved amendments to Nasdaq listing rules relating to compensation committee independence. Nothing has happened since then. The SEC’s previous rulemaking schedule indicated some action would be taken by the end of October 2014.

October 23, 2014
October 15, 2014
October 8, 2014

On September 22, 2014 the U.S. Department of Treasury announced new rules targeting companies that try to avoid U.S. income taxes by moving their headquarters overseas (a so-called “inversion”).

October 7, 2014

Marc Lieberman of the firm's Scottsdale office recently co-authored “What Me Worry? What Contributions Qualify as ‘Proceeds of Municipal Securities’ for Purposes of the Municipal Advisors Rule.” Benefits Magazine (Web Exclusive) (October 2014).

October 7, 2014

Mark Lasee of the firm's Scottsdale office recently co-authored “What Me Worry? What Contributions Qualify as ‘Proceeds of Municipal Securities’ for Purposes of the Municipal Advisors Rule.” Benefits Magazine (Web Exclusive) (October 2014).

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