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Uniform Commercial Code (UCC) › Commercial Loans › Chapter 11

Shumaker, Loop & Kendrick, LLP

When Worlds Collide: Article 2 of The Uniform Commercial Code and Chapter 11

Shumaker, Loop & Kendrick, LLP on

Picture the scene: You have just received word that your customer has filed Chapter 11. You had followed my advice (see article Reducing a Customer’s Accounts Receivable in the Zone of Insolvency), and put the customer on a...more

Eversheds Sutherland (US) LLP

Delaware Supreme Court Finds UCC Termination Filings Valid Despite Lack of Lender’s Intent

Eversheds Sutherland (US) LLP on

On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending...more

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