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Uniform Commercial Code (UCC) Personal Property

Troutman Pepper

Bankruptcy Court Holds Title Holder Consent Is Enough to Give Collateral Rights to Debtor to Grant Liens

Troutman Pepper on

On April 28, the U.S. Bankruptcy Court for the N.D. of Oklahoma in Kirtley v. Mabrey Bank (In re Rudick) held that an entity other than the debtor may grant a lien on the debtor’s property, affirming the legal standard that...more

Cadwalader, Wickersham & Taft LLP

Ten Things Every Fund Finance Banker Should Know About the UCC

The initiative to draft a code that would unify commercial transactions across U.S. states came about in 1942. The drafters went to work in a remarkable setting that, aside from a global war, was marked by clashes of...more

Bowditch & Dewey

Getting Paid in Bankruptcy – Part III, Landlords, Leases, and Licenses

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In this series, we look at how various payment rights are treated in bankruptcy. A summary like this could not possibly address every right that might arise in any given bankruptcy case. We have omitted several of the...more

Blank Rome LLP

A Look at the Friendly Foreclosure Option

Blank Rome LLP on

When a debtor defaults on a loan secured by personal property, the secured lender has several options for repayment. One option is to sell the collateral securing the debt pursuant to Article 9 of the Uniform Commercial Code...more

Troutman Pepper

Manufactured Home Lien: Forget Perfection, You Need To Have A Lien In The First Place

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Morris v. Ark Valley Credit Union (In re Gracy), 522 B.R. 686 (Bankr. D. Kan. 2015) – A chapter 7 trustee sought to avoid a credit union’s security interest in a manufactured home by asserting his strong arm powers as a...more

Buchalter

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

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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

Sands Anderson PC

Be Secure In Understanding Secured Interests

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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

Pillsbury Winthrop Shaw Pittman LLP

New Amendments to UCC Article 9 Now Effective in Most Jurisdictions

On July 1, 2013, amendments to Article 9 of the Uniform Commercial Code, which governs using personal property as collateral, became effective in most jurisdictions. The changes to Article 9 a ect both existing and future...more

Nexsen Pruet, PLLC

Negotiating Construction Equipment Leases; Getting Beyond the Battle of the Forms

Nexsen Pruet, PLLC on

A. THE PROBLEM: “I want it on the jobsite yesterday!” In buying out a construction project, a general contractor (GC) or a subcontractor will likely negotiate and enter into equipment leases that cost, on an...more

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