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Video

  • 6 minutes

Account Redirection Notices - UCC Article 9 Foreclosures

 

Account-redirection notices must be commercially reasonable.

As a secured party, if you take a security interest in accounts, generally applies to accounts receivable, then you have the right to redirect payments from the people who own money to your debtor to yourself. After a redirect notice is delivered to account debtors, the debtor can only discharge obligations by paying the secured party. This video reviews the account-redirection process and various provisions.

Runtime: 6 minutes
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Agenda

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Faculty

Hugh McCullough

Hugh McCullough

Davis Wright Tremaine LLP

  • Partner in the Seattle office of Davis Wright Tremaine LLP
  • Advises clients in litigations and transactions involving bankruptcy, the payments industry, and secured financings
  • He regularly helps clients with matters that never reach a courtroom, but in cases requiring litigation, he has argued and won in the Washington Supreme Court, the 9th Circuit Court of Appeals, and federal courts around the country
  • Conducts regular seminars on topics related to bankruptcy and the rights of secured creditors
  • Member of the American Bankruptcy Institute and the Turnaround Management Association
  • J.D. degree, cum laude, Northwestern University School of Law; B.A. degree in history and political science, Kansas State University
  • Can be contacted at [email protected] or 206-622-3150
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