News & Analysis as of

Uniform Commercial Code (UCC) Liens

How commodities haulers can keep on truckin’ through the agricultural downturn

by Hellmuth & Johnson PLLC on

With three straight years of depressed economic conditions in the agricultural marketplace, many farmers are really feeling the strain. When farmers feel the strain for long periods of time, eventually their service providers...more

Energy Newsletter - August 2017

by King & Spalding on

Practical Issues Under Joint Operating Agreements Relating to Withdrawals, Transfers and Changes in Control - In light of their long term objectives and potential future transactions, parties should consider the...more

10 Key Intellectual Property Issues for M&A Deals

by Holland & Knight LLP on

Intellectual property (IP) issues are increasingly important factors in merger and acquisition (M&A) transactions. Of the various industry sector transactions included in recent American Bar Association (ABA) Business Law...more

The Model Form JOA in Hard Times (and Farewell, Rally Possum)

by Gray Reed & McGraw on

Good morning class. Welcome to an advanced course on what can go wrong with the Model Form just when you need it. FIRST CASE - Do you know where to file your UCC financing statement?...more

District Court Confirms Netting/Setoff Practices

by Reed Smith on

In a recent decision related to the SemCrude bankruptcy, the federal district court upheld the Bankruptcy Court’s rulings on the efficacy of certain common risk-mitigation tools used in the energy trading and marketing...more

Settlement Proceeds: When Does Cash Become Quasi Real Estate?

by Pepper Hamilton LLP on

Farmer v. Citizens Nat’l Bank of Athens (In re Davis), 528 B.R. 757 (Bankr. E.D. Tenn. 2015) – A chapter 7 trustee sought a court determination that the trustee had a superior claim to settlement proceeds arising from...more

When a Driver’s License Is More Than a Bad Picture: Is Your UCC Financing Statement Still Effective?

by Poyner Spruill LLP on

UCC Financing Statements Must Contain the Debtor’s Correct Name - “[A] financing statement is sufficient only if it [among other things] . . . provides the name of the debtor. “ N.C. Gen. Stat. § 25-9-502(a)(1) (emphasis...more

Factor Beware: A Judgment Lien Creditor in California May Have Priority Over Your Security Interest

by Buchalter on

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

Commercial Restructuring & Bankruptcy Newsletter - June 2014

by Reed Smith on

In this issue: - Are Breakup Fees at Risk? - Credit Bidding Rights Limited, Capped by Debt Purchase Amount - Court Upholds Creditor’s Security Interest Despite Post-Petition Lapse of Financing Statement...more

Growers Can Lien on Distressed Wineries

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

Be Secure In Understanding Secured Interests

by Sands Anderson PC on

When a business borrows money, especially when it’s a new business, the lender wants to make sure it will be repaid even if the business fails. The lender often asks for additional security that it will be paid. Additional...more

General Motors Bankruptcy Court Applies the Brakes to Unauthorized Termination Statements

Last week, the United States Bankruptcy Court for the Southern District of New York held that a UCC-3 termination statement is effective to terminate a financing statement under the Uniform Commercial Code only if the filing...more

Transformation of Tort Claim into Different Type of Collateral Did Not Give Secured Creditor a Lien

by Blank Rome LLP on

An October 2011 decision from the United States District Court for the Northern District of New York highlights the importance of correctly taking all of the steps necessary to obtain a security interest in commercial tort...more

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