Description
Gain an understanding of the filings under UCC Article 9 and how to fix and avoid mistakes in the future.
You will obtain an understanding of the nuts and bolts of filings under UCC Article 9, how to file properly, and how proper filings perfect (and continue perfection of) security interests in collateral and protect the interests of the filing party. Unfortunately, mistakes are often made, sometimes with significant consequences. You will learn about the effects of improper or missed filings, whether or not intended, and how to avoid or correct mistakes.
Date: 2023-06-14 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to define amendments.
* You will be able to describe assignments.
* You will be able to identify continuations.
* You will be able to discuss pitfalls and case studies.
The GM/JPMorgan Case
• Underlying Facts
• Procedural History
• Bankruptcy Court Decision
• Delaware Supreme Court Decision
• 2d Circuit Decision
Amendments
• Collateral Description
• Name Changes
• Address Changes
• Adding and Deleting Parties
Assignments
• UCC 9-514 Considerations
• Effect of Not Filing an Assignment
• Practical Considerations
• Trafficking in Financing Statements
Continuations
• Initial Five-Year Period
• Effect of Lapse
• Time Limitations
• Successive Continuation Statements
• Content Requirements
• Mortgages
Terminations
• UCC 9-513 Considerations
• Obligation to Deliver Termination
• Effect of Termination
Pitfalls and Case Studies
• Unauthorized Terminations
• Correction Statement
• Lapse
• Misleading Financing Statement
• Assignments
• Continuation Following a Name Change
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.
R. Marshall Grodner, Esq.-McGlinchey Stafford, PLLC, James C. Schulwolf – Shipman & Goodwin LLP, Jeffrey A. Wurst, Esq. – Armstrong Teasdale
