News & Analysis as of

Uniform Commercial Code (UCC) Debtors

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

Dot Your “I”s and Cross your “T”s: When It Comes to Perfecting Your Security Interest

by Murtha Cullina on

It always starts so easy. Borrower comes in and wants to borrow money. Lenders want some form of collateral to secure (potentially) a loan and the Borrower happily agrees to provide, or pledge, collateral to secure a loan. ...more

Ontario PPSA Amendments – Is there greater harmony with the UCC?

by Hodgson Russ LLP on

At the end of last year, I received bulletins from Ontario law firms alerting that the amendments to the Ontario Personal Property Security Act (“PPSA”) changing the definition of the “location” of the debtor in the PPSA...more

Settlement Proceeds: When Does Cash Become Quasi Real Estate?

by Pepper Hamilton LLP on

Farmer v. Citizens Nat’l Bank of Athens (In re Davis), 528 B.R. 757 (Bankr. E.D. Tenn. 2015) – A chapter 7 trustee sought a court determination that the trustee had a superior claim to settlement proceeds arising from...more

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

by 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

A Look at the Friendly Foreclosure Option

by Blank Rome LLP on

When a debtor defaults on a loan secured by personal property, the secured lender has several options for repayment. One option is to sell the collateral securing the debt pursuant to Article 9 of the Uniform Commercial Code...more

California Amends Uniform Commercial Code Article 9 Regarding Name of Individual Debtor on Financing Statements

by Buchalter on

The California Legislature passed, and Governor Brown signed, Assembly Bill No. 1858, which changes the way individual debtors are identified in Uniform Commercial Code financing statements. The bill brings California into...more

What’s in a Name? Changes to Article 9 of the California Uniform Commercial Code

by Ervin Cohen & Jessup LLP on

As you are probably aware, the latest revisions to Article 9 of the California Commercial Code became effective on July 1, 2014. Rather than providing an exhaustive list of all of the revisions to Article 9 of the California...more

Is More Always Better? Are Multiple Forms of General Security Agreement Necessary in Every Cross-Border Financing?

by Hodgson Russ LLP on

U.S. and Canadian Forms of General Security Agreement. It is not uncommon in cross-border financing transactions to have multiple U.S. and Canadian entities as borrowers or guarantors. In these transactions, there are often...more

New Amendments to UCC Article 9 Now Effective in Most Jurisdictions

On July 1, 2013, amendments to Article 9 of the Uniform Commercial Code, which governs using personal property as collateral, became effective in most jurisdictions. The changes to Article 9 a ect both existing and future...more

Attention Secured Lenders: The 2010 Amendments to Article 9 are Beginning to Take Effect

by Buchalter on

Article 9 of the Uniform Commercial Code, which governs security interests in transactions secured by personal property, is currently undergoing its first revision since 1998. The 2010 Amendments to Article 9 (the “2010...more

Inside M&A - Summer 2013

by McDermott Will & Emery on

A Closer Look at Leveraged Dividend Recapitalizations - With merger and acquisition activity down over the course of 2012 into 2013, and a weak market for initial public offerings (IPOs), many private equity firms have...more

Brief Summary of Key UCC Article 9 Amendments Effective July 1, 2013

by Dechert LLP on

Typically, from deal to deal, I don’t (and can’t imagine many of my colleagues do) get too worked up about Article 9 of the UCC…I know what it says, I know what to do, especially when it comes to creating and perfecting...more

Article 9 of UCC revisions effective July 1, 2013

by Sands Anderson PC on

Article 9 of the Uniform Commercial Code (the “UCC”) governs secured transactions between lenders and borrowers covering personal property which is pledged as collateral. The provisions of Article 9 apply to borrowers who...more

Are Your Procedures in Compliance with the Updated UCC Article 9?

Despite the lack of fireworks and fanfare, July 1, 2013, ushered in new changes to the Uniform Commercial Code that are important to bankers, lenders and legal practitioners. The revisions to UCC Article 9 (“Article 9”)...more

Changes To The UCC Effective July 1: Are You Prepared?

by Pierce Atwood LLP on

Effective July 1, multiple amendments to the Uniform Commercial Code (UCC) became effective in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and 39 other states. ...more

New Amendments To UCC Article 9

Most states recently adopted the 2010 amendments to the 2001 Uniform Commercial Code ("UCC") Article 9, with an effective date of July 1, 2013. Unfortunately, Arizona and a few other states have not yet adopted the 2010...more

Amendments to UCC Article 9 Take Effect July 1, 2013 in Many Jurisdictions

On July 1, 2013, amendments to Article 9 of the Uniform Commercial Code (UCC), which governs using personal property as collateral, will become effective in many jurisdictions. The changes to Article 9 will affect both...more

Delaware Adopts the 2010 Article 9 Amendments

Requirements for financing statements to be filed in Delaware will change on July 1, 2013 with the adoption of the 2010 Amendments to Article 9 of the UCC. On May 3, 2013, with the signing of HB8 by Governor Jack...more

Recent Changes to Article 9 of the North Carolina Uniform Commercial Code

by Poyner Spruill LLP on

In 2010 the National Conference of Commissioners on Uniform State Laws and the American Law Institute proposed amendments to Article 9 of the Uniform Commercial Code, commonly referred to as the 2010 Amendments. During the...more

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