When a company enters bankruptcy, its assets are often sold to the highest or best bid. Secured lenders — those who have perfected liens on the company's assets — have a unique advantage under Section 363(k) of the Bankruptcy...more
In the world of commercial leases, a landlord's lien can be a critical tool that provides an additional layer of security for the landlord against tenant defaults. But what exactly does this mean for the landlord, the tenant...more
A recent appellate decision from Alberta, Manitok Energy Inc. (Re), marks another chapter in the developing caselaw surrounding environmental obligations in insolvency proceedings. In the decision, the Alberta Court of Appeal...more
Washington’s recently enacted Washington Wage Recovery Act, SB 5355 (the “Act”), creates a new statutory lien for employees’ unpaid wage claims against their employers. The Act has significant implications for employees,...more
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
Dear YouDig? Guess what? There is a beautiful new ice arena at a major university in Ohio. We know because we supplied the materials, labor and installation services of the entire ice rink including the sub floor heave...more
Dealing with a financially distressed customer requires both vigilance and creativity. Vigilance is critical because closely monitoring a customer’s payment history and overall financial situation will signal whether a...more
Many steps creditors take in the process of directly or indirectly originating a vehicle finance agreement are designed to protect the creditor in the event its credit risk assessment was off and the consumer defaults. A...more
Cases decided recently in Florida and Illinois call into question one legal rule that some might have thought well-settled: a first-perfected security interest in collateral beats a later-perfected lien creditor's interest in...more
It’s a common occurrence – a mortgagor or grantor signs the security instrument a day or two in advance of the loan, or perhaps a note is re-signed a couple of days after closing to correct an error in the original note....more
On Monday, the U.S. District Court for Nevada issued significant decisions in three cases, holding that a foreclosure on a Nevada HOA’s super-priority lien could not extinguish a deed of trust securing a debt owned by a...more
A factor may receive notice from a judgment creditor that the judgment creditor holds a judgment lien on the accounts of the factor’s client, and be tempted to ignore the notice, since the judgment lien is later in time than...more
A lot goes into the making of great wine, and when a winery becomes financially unstable, there are a lot of competing interests that need to be satisfied, including the banks that provide the winery with financing, the...more