Barbara M. Goodstein

April 01, 2021 | New York Law Journal

On March 4th, the PEB issued four new draft commentaries, which address choice-of-law rules, enforcement of obligations of securities intermediaries, and priority of liens on receivables perfected by financing statements. In this edition of her Secured Transactions column, Barbara M. Goodstein surveys all four draft commentaries and touches on their importance as they relate to finance practitioners.

By Barbara M. Goodstein

11 minute read

February 03, 2021 | New York Law Journal

In her Secured Transactions column, Barbara M. Goodstein discusses 'In re Le Tote', which involved an attempt by a secured creditor to enforce payment obligations of Lord & Taylor under a master lease agreement for 24 retail stores. U.S. Bankruptcy Judge Keith Phillips rejected that attempt, citing numerous reasons, but among them being that the plain language of §9-109 applied and the exception under §9-604 did not.

By Barbara M. Goodstein

8 minute read

December 02, 2020 | New York Law Journal

In this edition of her Secured Transactions column, Barbara M. Goodstein discusses a recent ruling by the New York Court of Appeals in a case involving strict foreclosure. She writes: While the decision has received considerable attention for the potential power it gives to minority noteholders, it also leaves unanswered questions as to whether the effects on that foreclosure of UCC §$9-620-9-622 were properly considered.

By Barbara M. Goodstein

11 minute read

August 05, 2020 | New York Law Journal

Delineating between property acquired post-filing and post-filing proceeds of pre-petition property can be a daunting task. This column discusses how a Federal District Court Judge and a panel of judges on the First Circuit grappled with this issue in the recent 'Andalusian' case.

By Barbara M. Goodstein

10 minute read

June 03, 2020 | New York Law Journal

Uncertainties in regard to the treatment of series under various legal regimes have discouraged their widespread acceptance. In an effort to advance their use, the Uniform Law Commission in 2017 promulgated a model Uniform Protected Series Act for LLCs, but questions remained. More recent strides in the form of 2019 amendments to the Delaware LLC Act and the Delaware UCC and, just this past April, a draft commentary issued by the UCC Permanent Editorial Board, may finally bring some needed clarity to this area for practitioners, as Barbara M. Goodstein discusses in this edition of her Secured Transactions column.

By Barbara M. Goodstein

10 minute read

April 01, 2020 | New York Law Journal

In a moment of true prescience in light of current circumstances, last year Congress amended the U.S. Bankruptcy Code by enacting the Small Business Reorganization Act of 2019 (SBRA). The SBRA is the federal government's latest effort to make bankruptcy reorganization a more attractive option for small businesses, something particularly important given the potential crippling economic effects of the current pandemic. Barbara M. Goodstein discusses the Act in this edition of her Secured Transactions column.

By Barbara M. Goodstein

8 minute read

February 05, 2020 | New York Law Journal

In mid-2018, the American Law Institute and National Conference of Commissioners on Uniform State Laws adopted amendments to the Official Text of UCC §§9-406 and 9-408 that would make those sections inapplicable to a security interest in a general partnership, limited partnership or limited liability company. Barbara M. Goodstein discusses those amendments in this edition of her Secured Transactions column.

By Barbara M. Goodstein

9 minute read

October 02, 2019 | New York Law Journal

In her Secured Transactions column, Barbara M. Goodstein discusses a recent Seventh Circuit decision in which the court reversed the lower court and held that a UCC-1 collateral description with nothing but a cross-reference to an unattached security agreement did "sufficiently indicate" the collateral for purposes of UCC Article 9.

By Barbara M. Goodstein

10 minute read

July 31, 2019 | New York Law Journal

In her Secured Transactions column, Barbara M. Goodstein discusses two recent decisions in the Sports Authority bankruptcy which underscore the continuing challenge to UCC commentators in guiding courts and practitioners effectively through the world of consignments.

By Barbara M. Goodstein

11 minute read

June 05, 2019 | New York Law Journal

In her Secured Transactions column, Barbara M. Goodstein discusses 'In re Aegean Marine Petroleum Network', which attempts to send a clear message to lenders and other non-debtors in the bankruptcy process that the road to non-consensual third-party releases, even in a jurisdiction that will allow them, is not easily traveled

By Barbara M. Goodstein

9 minute read