News & Analysis as of

UCC Financing Statements Liens

Holland & Knight LLP

Lenders and Borrowers Beware: EIDL Fraud Alert

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Holland & Knight has learned through customary deal due diligence that some borrowers – especially those who received a Paycheck Protection Program (PPP) loan through the U.S. Small Business Administration (SBA) – may have...more

Gray Reed

Texas Legislature to Consider Oil and Gas Lien Law Amendment

Gray Reed on

Texas lien law in some cases does not require the filing of a financing statement for priority perfection. However, as you might have learned in In re First River Energy, the Delaware Uniform Commercial Code did not recognize...more

Foley & Lardner LLP

Uniform Commercial Code Protections Affecting Vendor Claims: Purchase Money Security Interests and Reclamation

Foley & Lardner LLP on

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

Troutman Pepper

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

Troutman Pepper on

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

Gray Reed

The Model Form JOA in Hard Times (and Farewell, Rally Possum)

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Good morning class. Welcome to an advanced course on what can go wrong with the Model Form just when you need it. FIRST CASE - Do you know where to file your UCC financing statement?...more

Poyner Spruill LLP

When a Driver’s License Is More Than a Bad Picture: Is Your UCC Financing Statement Still Effective?

Poyner Spruill LLP on

UCC Financing Statements Must Contain the Debtor’s Correct Name - “[A] financing statement is sufficient only if it [among other things] . . . provides the name of the debtor. “ N.C. Gen. Stat. § 25-9-502(a)(1) (emphasis...more

Buchalter

Factor Beware: A Judgment Lien Creditor in California May Have Priority Over Your Security Interest

Buchalter on

A factor may receive notice from a judgment creditor that the judgment creditor holds a judgment lien on the accounts of the factor’s client, and be tempted to ignore the notice, since the judgment lien is later in time than...more

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