Software liens must be adequately registered; bankruptcy cases have held that security interests should be filed in the Copyright Office

Article Abstract:

The US District Bankruptcy Court in Arizona ruled in In re Avalon Software that a lender must register both the software and the security interest desired with the US Copyright Office before assuming such an interest. There are conflicting ideas about whether state or federal law governs the practical matters of liens on intellectual property assets. Two federal court decisions before Avalon indicate the federal Copyright Act preempts state uniform commerce codes. Safe practice for those desiring liens on computer software is detailed.

Commercial Banks, Bankruptcy Law, Other Justice, Public Order, and Safety Activities, Mortgage and Nonmortgage Loan Brokers, Consumer Loans, Purchasing, Software, Secured transactions, Arizona, Priorities of claims and liens, Personal loans

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Supreme Court's 'Boggs' decision makes sense

Article Abstract:

The US Supreme Court's 1997 ruling in Boggs v. Boggs that ERISA preempts state community property law was correct and resolved a difference between the appellate courts for the 5th and 9th circuits. The state law at issue allowed the nonparticipant spouse to control, by testamentary instrument, the disposition of his community property interest in the surviving spouse's qualified pension benefits. ERISA, however, denies nonparticipant spouses this testamentary right, and, as confirmed by the ruling, preempts conflicting state law.

Pension funds, Community property

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U.S. Supreme Court rejects FDIC's assertion that federal common law trumps state law in determining standard of liability for officers and directors of banks

Article Abstract:

The US Supreme Court has clarified in Atherton v. FDIC the standard of care for bank directors, an issue which had been in controvery since the Financial Institutions Reform and Regulatory Act had been enacted. The ruling assumes that there must be evidence of a significant conflict between state law and federal policy for federal common law to apply.

Bank directors

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