FCPA Compliance Report-Episode 389, Shawn Rogers on Tailored and Effective Compliance Training at GM
Blecker: GM Recalls Show Need for Harsher Penalties for "Red Collar" Criminals
The Second U.S. Circuit Court of Appeals recently held that a secured creditor’s $1.5 billion security interest was invalidated due to an error in the preparation of its UCC-3 termination statement. A disastrous result which...more
On January 21, 2015, the U.S. Court of Appeals for the Second Circuit issued an opinion regarding a mistaken UCC-3 termination statement that all loan market participants should consider carefully. The Second Circuit held...more
Action Item: When a secured loan is being paid off, lenders routinely authorize the borrower’s counsel to prepare and file UCC termination statements releasing the lender’s security interest in the borrower’s property. ...more