Description
Understand how to create, perfect, gain, and maintain priority of debt and other payment obligations under Article 9 of the UCC.
Getting what you have bargained for, the right to collect by realizing on your collateral can be challenging at times in our complicated realworld environment. You have to comply with UCC Article 9 requirements and worry about the UCC lien priority regime. Then you have to worry about competing federal tax liens, other federal and state law liens (statutory and judicial), the effect of bankruptcy, and other insolvency laws. This presentation will help attendees discuss those challenges.
Date: 2022-10-18 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to define a perfected Article 9 Security Interest.
* You will be able to describe how to perfect a security interest in different classes collateral.
* You will be able to explain how the Article 9 lien priorities can be modified by contract
* You will be able to identify the bankruptcy risks faced by lenders.
The Attachment and Perfection of Security Interests Under Article 9 of the UCC • a Review of the Fundamentals
• Attachment
• A Written (or Electronic) Record
• Signed or Authenticated by the Debtor
• Sufficient Description of the Collateral
• Value Has Been Given
• The Debtor Has Rights in the Collateral
• Collateral Proceeds/After Acquired Property/Future Advances
• Perfection of Security Interests in Different Types of Collateral
• Filing
• Possession
• Control
• Special Types of Collateral
Lien Priorities – a Review of the Fundamentals
• The Article 9 Statutory Scheme
• The Interplay of Article 9 and Statutory (State and Federal) Liens
• Secret Liens
Subordination/Rearranging Priorities
• Structural Subordination
• Inter-Creditor Agreements
• Subordination • Payment
• Subordination • Liens
• Uni-Tranche Transactions • Agreements Among Lenders
• Statutory Liens and Secret Liens
Managing Bankruptcy Risk
• Lien Avoidance
• Valuation • Understanding the Operation of the Bankruptcy Code (Section 510 (a)) Over Secured and Under Secured Claims
• Chapter 11 Issues
• Cash Collateral Usage
• Dip Financing
• Plan Confirmation Issues
• Filing
• Possession
• Control
• Special Types of Collateral
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
