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Creditors Financial Statements

Holland & Hart LLP

The Vendor's Lender: Secured Creditor's Rights in Receivables Are Paramount

Holland & Hart LLP on

Accounts receivable serve as an important source of collateral – indeed, receivables and other rights to payment represent the lifeblood of asset-based lending, securitizations and factoring arrangements. Article 9 of the...more

Lowenstein Sandler LLP

Risk of Personal Liability Despite Incorporation

Lowenstein Sandler LLP on

One of the fundamental principles of corporate law is that the owners, directors and officers of a corporate entity generally are not personally responsible for the entity’s debts. Without this insulation from personal...more

Adler Pollock & Sheehan P.C.

That’s Bogus! Protecting Your Business Against Fraudulent UCC Financing Statements

In Rhode Island, a “bogus” lien on your business’s assets is always just a few clicks away. Indeed, without consent, warning, or any factual basis, any individual with internet access can allege a secured interest in any...more

Spilman Thomas & Battle, PLLC

The Discharge in Bankruptcy - Open Avenues for Consumer Creditors

In a typical consumer bankruptcy, a debtor seeks the benefit of two concepts. First, the debtor seeks the breathing room afforded that debtor by the automatic stay. Second, the debtor seeks to discharge all debt obligations...more

Spilman Thomas & Battle, PLLC

How to Identify and React to Fraud in the COVID-19 Era

As we have learned through our ghosts of recessions past, the vast majority of those who become unable to pay their debts in economic downturns are honest, but unfortunate, debtors. That said, we also have learned that an...more

Amundsen Davis LLC

Monitor Your Business Liens

Amundsen Davis LLC on

Corporate housekeeping should include a line item for monitoring your business liens. As a debtor, the health of your business is reliant on a good credit score. As a creditor, losing your security interest on a lien could...more

Mintz - Bankruptcy & Restructuring Viewpoints

First Circuit Rules That “Incorporation by Reference” of Collateral Description in UCC Financing Statements May Not Perfect Lien

Tolstoy warned that “if you look for perfection, you’ll never be content”, but Tolstoy wasn’t a bankruptcy lawyer. In the world of secured lending, perfection is paramount. A secured lender that has not properly perfected its...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

Patterson Belknap Webb & Tyler LLP

Solicitor General recommends US Supreme Court review in dischargeability case

On November 9, responding to a request from the U.S. Supreme Court, the Solicitor General filed a brief at the Court recommending that the petition for writ of certiorari in Lamar, Archer & Cofrin, LLP v. Appling, No....more

Spilman Thomas & Battle, PLLC

Revisiting the Post-Bankruptcy Toolbox: Don’t Forget to Compare the Financials

For better or worse, lenders have become increasingly familiar with the strange dynamic that is the post-bankruptcy minefield created by their borrowers filing a bankruptcy petition. Immediately, lenders begin thinking about...more

Partridge Snow & Hahn LLP

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

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