Promissory Notes Deemed To Be ‘Securities’
Because the notes were deemed to be securities, the New York Court of Appeals determined that UCC8 governed the rights of the holders thereunder. Highland Capital Management LP v. Schneider, 866 N.E.2d.1020 (N.Y., Apr. 3, 2007).
While the facts of the case are not unusual, they are instructive. A company issued...
To view the full article, register now.