Delaware Harmonizes Alternative Entity Series and UCC Article 9

Delaware statutory trusts, limited liability companies, and limited partnerships (collectively, “Alternative Entities”) can form separate series of assets that, if certain statutory requirements are met, cannot be reached by creditors of the entity as a whole or of any other series. Many practitioners and commentators have been concerned that such series may not fall under the UCC’s definition of “person” and thus may not be “debtors” for purposes of Article 9 of the UCC. This article reviews the series provisions in the acts governing Delaware Alternative Entities and provides a framework for analyzing questions regarding the perfection of security interests in the assets of a series.

Committed to Diversity and Thought Leadership, Temple Launches New Institute For Law, Innovation & Technology

Temple University is launching a new institute that will serve as a hub and organizing platform for the school’s expanding engagement on law and high tech. The Institute for Law, Innovation & Technology (“iLIT”) will have a mission to advance diversity, equity, and empowerment of members of underrepresented groups in technology-related fields and practice areas.