Dealing with a financially distressed customer requires both vigilance and creativity. Vigilance is critical because closely monitoring a customer’s payment history and overall financial situation will signal whether a...more
Lenders often finance items that are installed in and/or affixed to their customers’ other leased or financed assets. When these items, known as “accessions,” are part of the transaction, they are usually “perfected” by the...more
What is a “Purchase Money Security Interest”? A “purchase-money security interest” (or “PMSI”) is a security interest securing a “purchase-money obligation”, or an obligation incurred by a debtor to buy collateral...more