News & Analysis as of

Uniform Commercial Code (UCC) UCC Financing Statements Appeals

Troutman Pepper Locke

Navigating Jurisdictional Pitfalls: Lessons From Global One Media, Inc. v. Newtek Small Business Finance, LLC on Lien Filing...

Troutman Pepper Locke on

The Ninth Circuit Bankruptcy Appellate panel recently reaffirmed the longstanding principle that a UCC-1 financing statement securing personal property must be filed at the debtor’s location. In a recent case, the lender did...more

Foley & Lardner LLP

Seventh Circuit Guidance on Collateral Description in Financing Statements

Foley & Lardner LLP on

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

Dorsey & Whitney LLP

Seventh Circuit Reaffirms Notice Principle of UCC Financing Statements

Dorsey & Whitney LLP on

Last year, the U.S. Bankruptcy Court for the Central District of Illinois determined in In re I80 Equipment, LLC that a financing statement which referenced a description of the collateral, but did not contain or attach the...more

Herbert Smith Freehills Kramer

Financing Statement Collateral Descriptions that Indicate Collateral by Reference Are Permissible under Article 9 of the UCC

Recently in In Re: 180 Equipment, LLC, a case of first impression, the United States Court of Appeals for the Seventh Circuit determined that the Illinois version of Article 9 of the Uniform Commercial Code (Illinois UCC)...more

Troutman Pepper Locke

A Win for Lenders: Seventh Circuit Finds UCC-1 Collateral Description Reference Sufficient

Troutman Pepper Locke on

In a win for lenders, on September 11, the U.S. Court of Appeals for the Seventh Circuit reversed the U.S. Bankruptcy Court for the Central District of Illinois, holding that the collateral description in the UCC-1 financing...more

Winthrop & Weinstine, P.A.

Erroneous UCC-3 Termination Leads to Disastrous Consequences

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

Parker Poe Adams & Bernstein LLP

A Cautionary Tale – The Need for Bank Oversight on Collateral Releases

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

7 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide