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Finding Your Way Through the UCC3 Financing Fog

Gain an understanding of the filings under UCC Article 9, and how to fix mistakes and avoid them 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.

Runtime: 89 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

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"
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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

James C. Schulwolf

James C. Schulwolf

Shipman & Goodwin LLP

  • Partner at Shipman & Goodwin LLP
  • Represents senior and mezzanine lenders, institutional investors, venture capital investors including SBICs, private equity funds, emerging growth companies and private companies in financing, investment, leasing, acquisition, corporate, licensing and restructuring transactions
  • Advises clients with respect to structuring, negotiating, and closing complex financing, investment, and acquisition transactions, and also advises clients, including municipalities, universities, and nonprofit entities with regard to interest-rate swaps and hedging transactions
  • Past chair of the Commercial Finance Committee of the American Bar Association's Business Law Section and currently a member of the Business Law Section Council
  • Experience includes the representation of senior and mezzanine lenders in complex commercial, asset-based, and acquisition financings; SBICs and venture capital funds; emerging growth companies; buyers, sellers and sponsors; and institutional investors in direct investments, fund of funds investments, and investments in private equity funds
  • Recognized authority on drafting and negotiating intercreditor and subordination agreements on behalf of senior and subordinate lenders and is the author of "Controlling Your Destiny-Key Issues in Subordination and Intercreditor Agreements", The Secured Lender, and "Financing the Family-Owned Business"
  • Lectures frequently on issues relating to commercial and mezzanine lending, intercreditor issues, loan syndications and participations, venture finance, and venture capital investment
  • J.D. degree, New York University School of Law, B.A. degree, cum laude, Amherst College
  • Can be contacted at 860-251-5949, fax 860-251-5311 or [email protected]
Jeffrey A. Wurst, Esq.

Jeffrey A. Wurst, Esq.

Ruskin Moscou Faltischek PC

  • Partner at Ruskin Moscou Faltischek PC
  • Chair of the firm's Financial Services, Banking, & Bankruptcy Department
  • Fellow of the American College of Commercial Finance Lawyers
  • Listed amongst Super Lawyers and AV Rated by Martindale-Hubbell
  • Expertise in commercial finance matters including syndications, C&I, asset-based lending, leasing and factoring transactions, including bankruptcy matters, workouts and turnaround situations that may result from such transaction
  • Regularly called upon by secured lenders to represent them in the structuring, negotiation and documentation of loan transactions, both traditional and complex, as well as when their commercial borrowers experience financial distress and seek protection under Chapter 11 of the Bankruptcy Code
  • Recognized for his defense of lender-liability actions and similar proceedings brought against commercial lenders as well as his representation in disputes between commercial lenders
  • Admitted to practice in the courts for the State of New York as well as the federal district courts for the Southern, Eastern, Western and Northern Districts of New York; also admitted in the Northern District of Texas, Northern District of Illinois, and the Eastern District of Michigan and is admitted to practice before the Second, Third and Fourth Circuit courts of appeal
  • Member of the American Bar Association serving on its Commercial Financial Services and Legal Opinions Committees, the American Bankruptcy Institute, the New York State Bar Association, the Association of Commercial Finance Attorneys, serving on its Board of Directors, past Chair of the New York Institute of Credit and is past vice president of the Turnaround Management Association Global and a founding member and past president of the Long Island Chapter of the Turnaround Management Association
  • Frequent writer and lecturer on loan syndications and other topics of interest to lenders
  • Blog: www.WurstCaseScenario.com, the Commercial Finance Newsletter is followed by thousands of readers
  • J.D. degree, magna cum laude, Jacob D. Fuchsberg Law Center of Touro College; B.A. and M.A. degrees, Hofstra University
  • Can be contacted at 516-663-6535, via fax at 516-663-6735 or [email protected]
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Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 399634
Published 2017
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