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Understanding UCC Article 9 Foreclosures

 

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.

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Understanding UCC Article 9 Foreclosures

Agenda

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Understanding UCC Article 9 Foreclosures

Faculty

Reed Mercado

Reed Mercado

Buchalter

  • Senior counsel in the Los Angeles office of Buchalter, P.C.
  • Has represented both senior and mezzanine secured lenders for over 12 years, in a wide variety of industries (including food & beverage, retail and entertainment, and in a wide variety of contexts (including syndicated, club and bilateral deals)
  • Focuses on documenting commercial finance transactions, and learned to do so during the last downturn by working out and restructuring troubled credits, conducting extensive diligence on troubled loan portfolios to identify weaknesses in documentation, enforcing UCC and other remedies, and guiding secured parties through both debtor-in-possession financing and collateral sales in a bankruptcy
  • Conducts regular seminars and workshops on numerous topical issues that are or will shortly be affecting commercial finance transactions, including trade tariffs, LIBOR and remedies enforcement
  • J.D. degree, Berkeley School of Law
  • Can be contacted at [email protected] or 213-891-5095
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Understanding UCC Article 9 Foreclosures

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