News & Analysis as of

Perfected Security Interest

Hogan Lovells

Court of Appeal overturns Hamersley Iron v. Forge Group Power – set off rights in liquidation restored

by Hogan Lovells on

In July 2017, we wrote about the case of Hamersley Iron Pty Ltd v Forge Group Power Pty Ltd (in liquidation) (receivers and managers appointed), in which the Western Australian Supreme Court held that rights of set off...more

Miller Starr Regalia

Got Privity? Understanding Privity Of Estate And Privity Of Contract In California Real Property Leases

by Miller Starr Regalia on

Parties to real estate contracts often change over time, whether as the result of an assignment, financing, or otherwise. Relatedly, additional parties (beyond those named in the underlying contract) may claim a property...more

White & Case LLP

Mortgages of Movable Property: a welcome update

by White & Case LLP on

This article examines the implementation of the Mortgage Law (as defined below) and its potential impacts on the UAE debt finance market....more

Pullman & Comley, LLC

A Critical Law Firm Risk Management Story: Confirming The Client's Plan To Perform Tasks On Its Own

by Pullman & Comley, LLC on

A recent decision by the New York State Appellate Court highlights why a law firm should precisely identify in its written engagement agreement what tasks the client should and should not expect the firm will perform. Genesis...more

Weiner Brodsky Kider PC

Nebraska Amends Provisions Regarding Security Instruments

by Weiner Brodsky Kider PC on

Nebraska recently enacted legislation clarifying the requirements for a lender to release its lien upon the satisfaction of the obligation secured thereby and receipt of a written request for release, and the consequences for...more

Dentons

PSC Regime – issues when taking Scottish share security

by Dentons on

The UK persons with significant control regime (the PSC Regime) continues to cause uncertainty for lenders seeking to take security over shares in Scottish companies. The main concern is whether the security could cause the...more

Miles & Stockbridge P.C.

Check it Twice! A Helpful Reminder to Drafters of UCC-1s

by Miles & Stockbridge P.C. on

For a creditor, the difference between a perfected and unperfected security interest can mean the difference between full repayment and receiving mere pennies on the dollar (or nothing) in a bankruptcy. On August 30, 2017, a...more

Snell & Wilmer

What Happens When a Secured Creditor Files a Late Claim in an Equity Receivership?

by Snell & Wilmer on

Pitting a receivership court’s inherent equitable powers against pre-existing property rights can lead to some pretty interesting questions. In SEC v. Wells Fargo Bank, N.A., 848 F.3d 1339, 1343-44 (11th Cir. 2017), the...more

Jones Day

Judicial Guidance about "Perfection by Possession" under Australia's Personal Property Securities Act

by Jones Day on

The Federal Court of Australia has provided judicial guidance about what constitutes taking possession by seizure under the Personal Property Securities Act 2009 (Cth) ("PPSA"). Knauf Plasterboard Pty Ltd v Plasterboard West...more

Bradley Arant Boult Cummings LLP

Big Win for Servicers and Lenders of Fannie and Freddie Owned Loans against Nevada HOA Foreclosures

Last week, the U.S. Court of Appeals for the Ninth Circuit issued a significant decision in favor of lenders and mortgage servicers fighting off claims that their mortgage liens were extinguished by Nevada homeowners...more

Bracewell LLP

Third Circuit Holds that Automatic Perfection Provisions Are Not So Automatic

by Bracewell LLP on

Close to ten years have passed since the filing of the chapter 11 cases of Tulsa, Oklahoma-based SemCrude L.P., but this week, the Third Circuit Court of Appeals affirmed a 2015 district court ruling that resolved a dispute...more

White & Case LLP

Ten things to consider when you do a leveraged finance deal in Belgium

by White & Case LLP on

European Leveraged Finance Alert Series: Issue 7 - With the leveraged finance market staying hot, an increasing number of international sponsors are making acquisitions in Belgium, and upcoming changes in the law will make...more

Jones, Skelton & Hochuli, P.L.C.

Perfecting and Renewing Judgment Liens

A judgment is only as good as your ability to get it satisfied. That means you need to ensure that your judgment is properly recorded and turned into a valid lien....more

Dentons

Taking Security Guide

by Dentons on

In our interconnected global economy, banking and finance transactions are becoming increasingly complex and regulatory frameworks are constantly evolving. The act of taking security, that is, the creation and enforcement of...more

Williams Mullen

Stock: Are Your Interests Perfected in the Digital Age?

by Williams Mullen on

In a secured loan transaction, it is critical for you, as the secured lender, to ensure that your security interest in the collateral is perfected in accordance with the Uniform Commercial Code (UCC) requirements. In the case...more

Miles & Stockbridge P.C.

Tax Lien Takes Priority Over Earlier Interest Where Deed is Improperly Executed

by Miles & Stockbridge P.C. on

In the recent case of The Bank of NY Mellon v. Ashley, et al., 119 AFTR 2d 2017-1207 (D.C. Md. 2017), the U.S. District Court for the District of Maryland held that, where taxpayer-husband alone executed a deed of trust in...more

Blank Rome LLP

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

Sullivan & Worcester

Hague Securities Convention Takes Effect to Clarify Applicable Law Governing Securities Accounts Held by Intermediaries

by Sullivan & Worcester on

On April 1, 2017, the Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary (the "Convention") will take effect in the United States. On December 15, 2016, the United...more

Norris McLaughlin, P.A.

The Hague Securities Convention – IV. What effect does the Hague Securities Convention have on perfection by filing?

by Norris McLaughlin, P.A. on

The Convention does not affect perfection of a lien by taking physical possession of the securities. However, the Convention may affect perfection of a lien by filing, including the place where the security interest or other...more

Bryan Cave Leighton Paisner

Are the Assets in Custody?

by Bryan Cave Leighton Paisner on

Lenders to funds and other borrowers often extend credit based on a security interest over assets that are held in custody. The lender is granted a security interest in the relevant custody account and all of the cash,...more

Shumaker, Loop & Kendrick, LLP

Construction Liens in Florida – The Timing and Manner of Perfection are Critical

Among the hottest and most relevant blog and article topics is the subject of construction liens. No matter the quantity or ubiquity of such articles, construction liens are and will always be among the most highly discussed...more

Ervin Cohen & Jessup LLP

Imperfect!!! – Recordation Alone May Not Be Suficient To Perfect Deeds Under California Law

by Ervin Cohen & Jessup LLP on

Once a lender records a deed of trust, isn’t that sufficient under California law to perfect the deed against a Chapter 7 trustee’s attempt to set it aside? Based on the recent bankruptcy court decision of In re Nowlin, the...more

Bennett Jones LLP

The Lease of Your Worries: Preserving the Priority of a Lessor’s Interest in an Asset

by Bennett Jones LLP on

Unless a long-term lease of an asset is registered in the Personal Property Registry (PPR), the leasing arrangement may fail to protect the priority of the lessor’s ownership interest. The Alberta Court of Appeal in Fast...more

Sheppard Mullin Richter & Hampton LLP

The Ninth Circuit Holds That Enforcing A Security Interest Is Not Necessarily Debt Collection

On Oct. 19, 2016, the Ninth Circuit held that merely enforcing a security interest is not “debt collection” under the federal Fair Debt Collection Practices Act (“FDCPA”). In so holding, the Ninth Circuit disagreed with...more

Murtha Cullina

Collateral 101: Perfecting Security Interests in Common and Uncommon Collateral

by Murtha Cullina on

As most people (at least in the banking world) know, a security interest is the granting of an interest in property to secure obligations, usually loan debt. If the borrower defaults under its obligations, the bank can...more

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