Browsing by Author "Bateman, Hal M."
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Item 1975 Amendments to the Texas Business Corporation Act and the Texas Securities Act(Texas Tech Law Review, 1975) Bateman, Hal M.Professor Bateman discusses recent changes to the Texas Business Corporation Act and the Texas Securities Act, including changes to restrictions on transferability of shares, close corporations, corporate formalities, option exemptions, State Securities Board, exempt transactions, and receiverships.Item Missouri Uniform Securities Act(Missouri Law Review, 1969) Bateman, Hal M.Despite the spectacular events of recent years in the field of federal securities law, the less glamorous arena of state securities regulation – better known as "blue sky laws" – continues to play an important and regular role in the securities lawyer's practice. The new Missouri Uniform Securities Act must therefore be carefully considered and analyzed by Missouri attorneys. It is the purpose of this article to assist in such consideration and analysis.Item Post-Bankruptcy Transfers: An Old Problem in Need of a New Solution(Cornell Law Review, 1968) Bateman, Hal M.In a perfect world, a notice of bankruptcy would reach each creditor instantaneously and prevent any further disposition of the debtor’s assets. Unfortunately, we do not live in a perfect world and instead Congress has enacted sections 70a, 70d, and 21g of the Bankruptcy Act. In this article, Professor Bateman evaluates the intended and unintended consequences of these sections and provides a solution to fix the problems of a well-intended statute.Item Pragmatic Interpretation of Section 16(b) and the Need for Clarification(St. John's Law Review, 1971) Bateman, Hal M.Despite its ostensible simplicity and the general wholesomeness of its stated purpose, section 16(b) of the Securities Exchange Act of 1934 has had both a litigious and a controversial history. Nevertheless, it has endured without statutory change for thirty-seven years. Designed to prevent unfair use of corporate information by insiders in short-swing, speculative trading in the securities of the company, this provision makes all profits realized by such insiders from such trading recoverable by the corporation. It is the purpose of this article to review in general outline the transition which has occurred in the courts' approach in interpreting the section, to examine some of the recent cases which have undertaken the application of the new pragmatic method of interpretation, and to comment on the directions the courts should consider in future cases.Item Recent Developments in Bankruptcy(Missouri Law Review, 1967) Bateman, Hal M.Although bankruptcy deals primarily with the interpretation and application of the Bankruptcy Act, which was enacted in 1898, significant new developments continue to occur which are of importance both to the bankruptcy specialist and to the general practitioner. This results from the interplay of repeated amendments to the Act by Congress, new authoritative decisions on points of previous uncertainty in the interpretation of the Act, and the steady evolution of new commercial forms and new factual situations. This article will review several of the more important recent developments which illustrate each of these factors.Item Review of O'Neal Close Corporations(1972) Bateman, Hal M.Since its original publication in 1958, the first edition of Hodge O'Neal's treatise on close corporation law and practice has ranked as the definitive work on the subject. Important among its many significant contributions was the fact that this treatise served to focus national attention on the distinctive needs and legal problems of closely held corporations and to urge courts, legislatures and lawyers to recognize these problems and adjust to meet them. In addition, this treatise provided both practitioner and scholar with a sophisticated resource on all aspects of the subject. Due in significant respect to O'Neal's pioneering work in the area, there have been substantial changes over the intervening years in both legislative and judicial recognition of and provisions for the particular problems of close corporations, and today close corporation law and practice has become recognized as a distinct and highly complex branch of general corporate law and practice. These events-plus the fact that there have been many other developments of importance to close corporations in the areas of corporate, securities and tax law since 1958-make the publication of the second edition of O'Neal's treatise extremely timely and welcome.Item Securities Litigation: The 1977 Modernization of Section 33 of The Texas Securities Act(Houston Law Review, 1978) Bateman, Hal M.This article reviews and analyzes the 1977 revision of section 33 of the Texas Securities Act. The first section discusses the background and context of section 33. Section two analyzes the 1977 revisions to section 33. Part A of section two discusses liability issues under the statute, explaining that the number of liabilities has been substantially enlarged. Part B of section two discusses procedural and remedial provisions of the statute, explaining that the rights of parties have been far more comprehensively defined and more evenly balanced as between plaintiffs and defendants. The article concludes by noting that the 1977 revision of section 33 represents extensive modernization and improvement in the statutory rights of action under the Texas Securities Act. While acknowledging a few problems that remain in the revised section of 33 due to the complex drafting process that led to the 1977 revisions, the article posits that the 1977 revision of section 33 is a major improvement in the quality of Texas securities litigation law.Item State Securities Registration: An Unsolved Dilemma and a Suggestion for the Federal Securities Code(Southwestern Law Journal, 1973) Bateman, Hal M.Vigorous debate over the past twenty-five years has failed to provide a coherent answer to the problems of the interaction of federal securities law and state blue sky laws. This Article will attempt to analyze the nature and historical sources of the problem, review the various arguments advanced in the debate over its solution, and propose a new approach to a resolution of the dilemma which might be considered for inclusion in the proposed Federal Securities Code.Item Statutes of Limitations Applicable to Private Actions under SEC Rule 10b-5: Complexity in Need of Reform(Missouri Law Review, 1974) Bateman, Hal M.In 1964, the landmark decision of the United States Supreme Court in J.I. Case Co. v. Borak authoritatively established the availability of implied civil actions to redress injuries resulting from violations of SEC antifraud rules and became the springboard for an explosion of litigation based on SEC Rule 10b-5. The result has been that the question is no longer whether an implied civil action exists for violations of Rule 10b-5, but rather the definition of the legal requisites for and the available remedies in civil actions under Rule 10b-5 in a kaleidoscopic variety of factual contexts. The great volume of cases has produced considerable confusion and many unresolved issues with respect to the substantive aspects of civil actions under Rule l0b-5. The purpose of this article is to review the development of the law thus far with respect to this problem, to examine the issues presented, and to focus particular attention on the need and the prospects for reform.