Secured Transactions Practice: Security Agreements to Foreclosures - Part 2

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Description

Secured transactions are the most common form of commercial transaction and help finance businesses of every size. They are governed by the complex provisions of UCC Article 9. Getting every detail in financing statements, security agreements, and perfection of credits is essential.

Agreements can be costly and time consuming to draft, and full of risk. Failure to comply with UCC Article 9 in drafting security agreements, perfecting a creditor's interest, or foreclosing a lien can easily cause the value of the underlying transaction to be lost.

This program provides a real-world guide UCC Article 9 practice.

Part 2 topics include:

Framework for the foreclosure of personal property under UCC Article 9
Foreclosing on equipment, inventory, intellectual property, and accounts receivable
Duties of junior creditors to senior creditors on foreclosure
Rights to proceeds of foreclosure sales and reducing foreclosure costs
Rights of guarantors
Debtor remedies in the event of a secured party default
Cost-efficient alternatives to foreclosures and circumstances when these alternatives are available

Contributors

Steven O. Weise

Steven O. Weise is a partner in the Los Angeles office Proskauer Rose, LLP, where his practice encompasses all areas of commercial law. He has extensive experience in financings, particularly those secured by personal property. He also handles matters involving real property anti-deficiency laws, workouts, guarantees, sales of goods, letters of credit, commercial paper and checks, and investment securities. Mr. Weise formerly served as chair of the ABA Business Law Section. He has also served as a member of the Permanent Editorial Board of the UCC and as an Advisor to the UCC Code Article 9 Drafting Committee. Mr. Weise received his B.A. from Yale University and his J.D. from the University of California, Berkeley, Boalt Hall School of Law.

Click here for more information about Steven.

Thank you

Description

Contributors

Steven O. Weise