News & Analysis as of

Uniform Commercial Code (UCC) Liens Commercial Bankruptcy

Nelson Mullins Riley & Scarborough LLP

A Rose by Any Other Name Might Get Your Lien Stripped Under Florida Law

To the long list of things people love about lawyers we can add last week’s holding by the Eleventh Circuit Court of Appeals that “Blvd.” is utterly unrecognizable as “Boulevard” – at least by Article 9 of the Uniform...more

Lowenstein Sandler LLP

Do Not Take Consignments Lightly

Lowenstein Sandler LLP on

While things worked out for vendors who did not file a UCC-1 in the Sports Authority Chapter 11, you may not be so lucky. Never assume that it is not necessary to properly perfect a consignment arrangement by filing a...more

Gray Reed

Red River Statutory Rivalry: Texas Lien Statute is Fatal to Texas Producers’ Security Interests

Gray Reed on

The lesson from In re First River Energy LLC:  Even though Texas lien law does not require the filing of a financing statement for perfection, file one anyway. It will be helpful in the event a dispute is decided under the...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

Jones Day

Secured Lenders’ Interest Does Not Reach Reorganized Equity

Jones Day on

In In re MPM Silicones, LLC, the U.S. District Court for the Southern District of New York recently affirmed a 2014 opinion by the U.S. Bankruptcy Court for the Southern District of New York in an intercreditor dispute that...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

King & Spalding

Energy Newsletter - August 2017

King & Spalding on

Practical Issues Under Joint Operating Agreements Relating to Withdrawals, Transfers and Changes in Control - In light of their long term objectives and potential future transactions, parties should consider the...more

Gray Reed

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

Gray Reed on

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

Blank Rome LLP

Transformation of Tort Claim into Different Type of Collateral Did Not Give Secured Creditor a Lien

Blank Rome LLP on

An October 2011 decision from the United States District Court for the Northern District of New York highlights the importance of correctly taking all of the steps necessary to obtain a security interest in commercial tort...more

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