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Appeals › Security Agreements

King & Spalding

Eleventh Circuit Holds that D’Oench Doctrine Bars Lack of Authority Defense

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On January 12, 2023, the U.S. Court of Appeals for the Eleventh Circuit reversed the dismissal of a claim against Renasant Bank seeking to invalidate a security interest that Renasant acquired through an FDIC receivership....more

Kramer Levin Naftalis & Frankel LLP

Financing Statement Collateral Descriptions that Indicate Collateral by Reference Are Permissible under Article 9 of the UCC

Kramer Levin Naftalis & Frankel LLP on

Recently in In Re: 180 Equipment, LLC, a case of first impression, the United States Court of Appeals for the Seventh Circuit determined that the Illinois version of Article 9 of the Uniform Commercial Code (Illinois UCC)...more

Troutman Pepper

A Win for Lenders: Seventh Circuit Finds UCC-1 Collateral Description Reference Sufficient

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In a win for lenders, on September 11, the U.S. Court of Appeals for the Seventh Circuit reversed the U.S. Bankruptcy Court for the Central District of Illinois, holding that the collateral description in the UCC-1 financing...more

Burr & Forman

Fifth Circuit Holds that Statute of Limitations Extended by Cross-Collateralization Clause

Burr & Forman on

Under the Mississippi law a deficiency suit must be brought “within one-year from the date of the foreclosure or sale” of the collateral. See Miss. Code Ann. § 15-1-23. The United States Court for the Fifth Circuit has...more

Bennett Jones LLP

Limitation Law and the Enforcement of Credit and Security Agreements

Bennett Jones LLP on

In June 2018, we wrote on the British Columbia Court of Appeal decision in Leatherman v 0969708 BC Ltd, 2018 BCCA 33, where the court considered sections 14 and 15 of the "new" Limitation Act, SBC 2012, c. 13 in the context...more

Stoel Rives LLP

Debtor May Be Entitled to Credit for “Reasonable Value” of Property Purchased by Lender at Mortgage Foreclosure Sale

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In Idaho, it has long been understood that a secured creditor that has foreclosed a mortgage may be able to also get a judgment against the debtor for the remainder of the debt, if the proceeds of the foreclosure sale are not...more

Blank Rome LLP

Lender Beware: The Pitfalls of Narrowly Defined Secured Obligations

Blank Rome LLP on

A recent decision by the United States Court of Appeals for the Seventh Circuit underscores the substantial risks secured lenders take when they narrowly define the obligations intended to be secured by their borrowers’...more

Snell & Wilmer

California Case Requires Arbitration Despite Lack of Actual Controversy

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For parties to litigate a contract dispute in a court of law, the parties’ disagreement must have ripened into an actual controversy presenting more than a mere academic difference of opinion. But under a recent California...more

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