News & Analysis as of

Perfected Security Interest

Judicial Guidance about "Perfection by Possession" under Australia's Personal Property Securities Act

by Jones Day on

The Federal Court of Australia has provided judicial guidance about what constitutes taking possession by seizure under the Personal Property Securities Act 2009 (Cth) ("PPSA"). Knauf Plasterboard Pty Ltd v Plasterboard West...more

Big Win for Servicers and Lenders of Fannie and Freddie Owned Loans against Nevada HOA Foreclosures

Last week, the U.S. Court of Appeals for the Ninth Circuit issued a significant decision in favor of lenders and mortgage servicers fighting off claims that their mortgage liens were extinguished by Nevada homeowners...more

Third Circuit Holds that Automatic Perfection Provisions Are Not So Automatic

by Bracewell LLP on

Close to ten years have passed since the filing of the chapter 11 cases of Tulsa, Oklahoma-based SemCrude L.P., but this week, the Third Circuit Court of Appeals affirmed a 2015 district court ruling that resolved a dispute...more

Ten things to consider when you do a leveraged finance deal in Belgium

by White & Case LLP on

European Leveraged Finance Alert Series: Issue 7 - With the leveraged finance market staying hot, an increasing number of international sponsors are making acquisitions in Belgium, and upcoming changes in the law will make...more

Perfecting and Renewing Judgment Liens

A judgment is only as good as your ability to get it satisfied. That means you need to ensure that your judgment is properly recorded and turned into a valid lien....more

Taking Security Guide

by Dentons on

In our interconnected global economy, banking and finance transactions are becoming increasingly complex and regulatory frameworks are constantly evolving. The act of taking security, that is, the creation and enforcement of...more

Perfection of security interests when assets move jurisdictions

by DLA Piper on

When a financing statement is registered to perfect a security interest in collateral, it is the responsibility of the secured party to monitor the registration to ensure that a new financing statement is filed if the goods...more

Stock: Are Your Interests Perfected in the Digital Age?

by Williams Mullen on

In a secured loan transaction, it is critical for you, as the secured lender, to ensure that your security interest in the collateral is perfected in accordance with the Uniform Commercial Code (UCC) requirements. In the case...more

Tax Lien Takes Priority Over Earlier Interest Where Deed is Improperly Executed

by Miles & Stockbridge P.C. on

In the recent case of The Bank of NY Mellon v. Ashley, et al., 119 AFTR 2d 2017-1207 (D.C. Md. 2017), the U.S. District Court for the District of Maryland held that, where taxpayer-husband alone executed a deed of trust in...more

Anticipating and Managing Bankruptcy Risk

by Blank Rome LLP on

Blank Rome Partner Ira Herman authored “Anticipating and Managing Bankruptcy Risk,” a series of articles prepared for the Financial Restructuring & Bankruptcy module of Lexis Practice Advisor, a comprehensive practical...more

Hague Securities Convention Takes Effect to Clarify Applicable Law Governing Securities Accounts Held by Intermediaries

by Sullivan & Worcester on

On April 1, 2017, the Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary (the "Convention") will take effect in the United States. On December 15, 2016, the United...more

The Hague Securities Convention – IV. What effect does the Hague Securities Convention have on perfection by filing?

The Convention does not affect perfection of a lien by taking physical possession of the securities. However, the Convention may affect perfection of a lien by filing, including the place where the security interest or other...more

Are the Assets in Custody?

by Bryan Cave on

Lenders to funds and other borrowers often extend credit based on a security interest over assets that are held in custody. The lender is granted a security interest in the relevant custody account and all of the cash,...more

Construction Liens in Florida – The Timing and Manner of Perfection are Critical

Among the hottest and most relevant blog and article topics is the subject of construction liens. No matter the quantity or ubiquity of such articles, construction liens are and will always be among the most highly discussed...more

Circulating security interests and competing priorities

by DLA Piper on

The recent Federal Court decision (on 1 March 2017) in Langdon, in the matter of Forge Group Limited (Receivers and Managers Appointed) (in Liq) [2017] FCA 170 considered the situation where a sizeable, unexpected tax refund...more

Imperfect!!! – Recordation Alone May Not Be Suficient To Perfect Deeds Under California Law

by Ervin Cohen & Jessup LLP on

Once a lender records a deed of trust, isn’t that sufficient under California law to perfect the deed against a Chapter 7 trustee’s attempt to set it aside? Based on the recent bankruptcy court decision of In re Nowlin, the...more

Taking a security interest in art

by DLA Piper on

If you have tried to borrow monies and use artwork as collateral, or if you have determined to loan money and take a piece of art as security, you may have encountered some interesting challenges....more

The Lease of Your Worries: Preserving the Priority of a Lessor’s Interest in an Asset

by Bennett Jones LLP on

Unless a long-term lease of an asset is registered in the Personal Property Registry (PPR), the leasing arrangement may fail to protect the priority of the lessor’s ownership interest. The Alberta Court of Appeal in Fast...more

The Ninth Circuit Holds That Enforcing A Security Interest Is Not Necessarily Debt Collection

On Oct. 19, 2016, the Ninth Circuit held that merely enforcing a security interest is not “debt collection” under the federal Fair Debt Collection Practices Act (“FDCPA”). In so holding, the Ninth Circuit disagreed with...more

Collateral 101: Perfecting Security Interests in Common and Uncommon Collateral

by Murtha Cullina on

As most people (at least in the banking world) know, a security interest is the granting of an interest in property to secure obligations, usually loan debt. If the borrower defaults under its obligations, the bank can...more

The potential impact of the LMEshield initiative on base metals warehouse financing structures

by Reed Smith on

Parties to warehouse financing structures using LMEshield warehouses will need to revisit their familiarity and assumptions regarding the methods for taking and perfecting security over metal stored in warehouses and over...more

Texas Supreme Court Holds that Individual Beneficiary Had Standing to Bring a Legal Malpractice Claim Involving a Loan From an...

by Winstead PC on

On May 27, 2016, the Texas Supreme Court held that an individual beneficiary of a self-directed retirement account managed by a corporate trustee had standing to bring legal malpractice claims against a law firm based on...more

Italian Floating Charge Over Movable Assets

by Shearman & Sterling LLP on

Law Decree No. 59 of 3 May 2016 introduced a new and long-awaited security instrument in the Italian legal framework: a floating charge over movable assets. The new security called "pegno non possessorio" is meant to...more

Deposit Account Control Agreements. Who Needs Em?

by Murtha Cullina on

You just got your committee approvals for a new relation. It is a borrower you have been after for some time. Approvals are fairly standard and call for a secured credit facility with a priority all business asset lien....more

Reserve-based lending in Nigeria

by Dentons on

2015 was a relatively active year for financing transactions in Nigeria's oil and gas sector. As well as facilities to fund the development of oil and gas assets, a significant number of facilities were provided to Nigerian...more

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