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Liens Financial Statements

Cadwalader, Wickersham & Taft LLP

Chester, PA Chapter 9 Court Confirms Certain Municipal Financing Techniques, Raises Concerns About Others

On November 3, 2023, the Court in the Chapter 9 bankruptcy case of the City of Chester, Pennsylvania issued its ruling in an adversary proceeding challenging the perfection of the liens securing certain revenue bonds issued...more

Adler Pollock & Sheehan P.C.

That’s Bogus! Protecting Your Business Against Fraudulent UCC Financing Statements

In Rhode Island, a “bogus” lien on your business’s assets is always just a few clicks away. Indeed, without consent, warning, or any factual basis, any individual with internet access can allege a secured interest in any...more

Amundsen Davis LLC

Monitor Your Business Liens

Amundsen Davis LLC on

Corporate housekeeping should include a line item for monitoring your business liens. As a debtor, the health of your business is reliant on a good credit score. As a creditor, losing your security interest on a lien could...more

Mintz - Bankruptcy & Restructuring Viewpoints

First Circuit Rules That “Incorporation by Reference” of Collateral Description in UCC Financing Statements May Not Perfect Lien

Tolstoy warned that “if you look for perfection, you’ll never be content”, but Tolstoy wasn’t a bankruptcy lawyer. In the world of secured lending, perfection is paramount. A secured lender that has not properly perfected its...more

Troutman Pepper

Ambiguous UCC Collateral Descriptions: A Snare for Private Equity Companies

Troutman Pepper on

On May 8, the U.S. Bankruptcy Court for the Western District of Missouri in In re 8760 Service Group held that a creditor had a first-priority interest in certain collateral of a debtor, before a subsequent creditor, despite...more

McNees Wallace & Nurick LLC

Driver’s License Please – Article 9 Style

If you are loaning money in Pennsylvania on a secured basis you must use the name of your individual debtor as stated on his/her driver’s license for your financing statement. 13 Pa.C.S.A. § 9503(a)(4). Secured lenders...more

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