New Consumer Bankruptcy Reform Act Implications and the 2023 Congressional Outlook - The Consumer Finance Podcast
Advancing Agriculture: Security Interests and Article 9 Challenges (Part 2)
Advancing Agriculture: Security Interests and Article 9 Challenges (Part 1)
Pursuant to Uniform Commercial Code (UCC) § 9-515(c), a UCC-1 financing statement filed to perfect a secured party’s lien on personal property collateral lapses five years from the filing date unless the secured creditor...more
Welcome to Episode 2 of Advancing Agriculture with your hosts from Husch Blackwell, Stephanie E. Kaiser and Elizabeth Benefield, where they discuss practical tips and advice on various topics related to ag lending. In this...more
In a previous blogpost, we explained the technical requirements for financing statements and the potential risks of failing to satisfy them, highlighting a case where the court ruled, under a prior version of the Puerto Rico...more
Manufacturers encounter financing statements in many contexts – as a borrower, as a supplier of goods sold on credit, as a seller in a leveraged acquisition, as a seller of equipment where financing is provided to the buyer...more
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
When terminating a financing statement, it is necessary to be certain that other financing statements are not unintentionally released, according to an opinion last week of the Second Circuit Court of Appeals. The effect of...more
In a recent decision, a U.S. Court of Appeals held that the filing of a UCC-3 termination statement in a relatively simple payoff transaction between General Motors and a lender was still considered "authorized," despite the...more
Beware!! The story brought to us today courtesy of the Second Circuit Court of Appeals (In re: Motor Liquidation Co., 13-2187) is one that should strike fear into the hearts of all bankers and lawyers. It is a cautionary tale...more
On October 17, 2014, the Delaware Supreme Court entered an opinion holding that a UCC-3 termination statement that is authorized by the secured party is effective to terminate the original UCC filing even though the secured...more