IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Understanding UCC Article 9 Foreclosures (OnDemand Webinar)

$149.00

SKU: 409733EAU

Description

Gain a better understanding of what UCC Article 9 foreclosure is and how it differs from bankruptcy liquidation.Many parties involved in secured transactions do not know or understand their options upon default. Bankruptcy liquidation is merely one method upon which a secured creditor may rely to recover their collateral. However, bankruptcy can be timeconsuming and a costly solution for all parties involved. This presentation will introduce a direct and simple alternative method to those who do not wish to proceed to bankruptcy or other judicial proceedings. A UCC foreclosure is a nonjudicial proceeding commenced by a secured creditor that may prove useful to parties when there is no dispute as to the obligation owed. This topic will explain the methods secured creditors may use during the disposition of collateral and the requirements for each method of disposition. You will also learn the standard and factors courts often consider when determining whether the parties have complied with the UCC enforcement rules. Lastly, you can expect to identify and hopefully avoid challenges and pitfalls faced by other creditors postdisposition.

Date: 2023-05-25 Start Time: End Time:

Learning Objectives

Introduction to UCC Article 9 Foreclosure
• What Is It?
• When Is It Used?
• Type of Collateral
• Pros
• Limitations
• Steps Taken

Methods of Foreclosure – Section 9-610(c)
• Private Sale
• Public Sale
• Strict Foreclosure
• Requirements/Steps
• Satisfaction of Debt

Requirements
• Notice
• When Must Notice Be Given?
• To Whom Must Notice Be Given?
• What Information Must Be Included in the Notice?
• Commercially Reasonableness
• Definition – Section 9-610
• Tests Employed by Courts
• Requirements
• When Not Applicable
• Price Determination
• Public – Meaningful Opportunity

Post-Sale Procedures
• Application of Proceeds
• Liability for Deficiency
• Right to Surplus

Pitfalls to Avoid
• Successor Liability
• De Facto Merger/Consolidation
• Mere Continuation
• How to Avoid?
• Language in Purchase Agreements
• Failure to Comply With Article 9 Enforcement Rules

CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Kirk B. Burkley, Esq.-Bernstein-Burkley, P.C., Sarah E. Wenrich, Esq. – Bernstein-Burkley, P.C.

IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Understanding UCC Article 9 Foreclosures (OnDemand Webinar)

$219.00

SKU: 407689EAU

Description

Explore whether a UCC foreclosure or an alternative remedy is the best option as the next downturn approaches so that all parties can be prepared.There are indications that an economic downturn may be coming sooner than later, and many secured parties have not had to conduct a UCC foreclosure or otherwise exercise remedies over the last several years. Some of the lessons and nuances of workouts, foreclosures and other remedy enforcement that were learned during the last downturn have been forgotten during the intervening economic boom. This topic reminds both lenders and borrowers of those lessons and nuances. In particular, this topic will explore whether a UCC foreclosure or an alternative remedy is the best option, why workouts often benefit all parties involved and how UCC foreclosures operate when different collateral classes are involved. This information is critical as the next downturn approaches so that all parties can be prepared.

Date: 2020-04-07 Start Time: End Time:

Learning Objectives

When to Foreclose
• Are All Defaults Created Equally?
• Workouts Can Be Good for Everyone
• Diligence, Diligence, Diligence

How to Foreclose
• Giving the Proper Notice to All Parties
• Different Remedies for Different Collateral and Different Situations
• Whatever You Do, Be Commercially Reasonable

Issues Affecting Foreclosure
• Rights of Third Parties
• Some Lessons Learned in the Trenches

No Credit Available

Reed Mercado-Buchalter

IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Understanding UCC Article 9 Foreclosures (OnDemand Webinar)

$219.00

SKU: 406819EAU

Description

Explore whether a UCC foreclosure or an alternative remedy is the best option as the next downturn approaches so that all parties can be prepared.There are indications that an economic downturn may be coming sooner than later, and many secured parties have not had to conduct a UCC foreclosure or otherwise exercise remedies over the last several years. Some of the lessons and nuances of workouts, foreclosures and other remedy enforcement that were learned during the last downturn have been forgotten during the intervening economic boom. This topic reminds both lenders and borrowers of those lessons and nuances. In particular, this topic will explore whether a UCC foreclosure or an alternative remedy is the best option, why workouts often benefit all parties involved and how UCC foreclosures operate when different collateral classes are involved. This information is critical as the next downturn approaches so that all parties can be prepared.

Date: 2020-02-07 Start Time: End Time:

Learning Objectives

When to Foreclose
• Are All Defaults Created Equally?
• Workouts Can Be Good for Everyone
• Diligence, Diligence, Diligence

How to Foreclose
• Giving the Proper Notice to All Parties
• Different Remedies for Different Collateral and Different Situations
• Whatever You Do, Be Commercially Reasonable

Issues Affecting Foreclosure
• Rights of Third Parties
• Some Lessons Learned in the Trenches

CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Reed Mercado-Buchalter