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July 18, 2022
A UCC Financing Statement must provide the name of the creditor, the name of the debtor and the description of property serving as collateral. The following case involved the description …
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August 30, 2021
In commercial credit, creditors have an opportunity to secure accounts receivable by establishing their right to certain collateral. Then, in the event the debtor fails to pay, the creditor can …
February 22, 2021
Can a UCC be “revived” if you knowingly fail to timely file an amendment for a debtor’s name change? Minnesota Bankruptcy Court says no. Today’s post reviews an ongoing case …
November 16, 2020
As the economy struggles to realign in a time of pandemic and political uncertainty, businesses are scrambling and struggling to keep the supply chain in motion, but the financial risks …
September 14, 2020
Purchase Money Security Interest (PMSI) Filings were created to encourage trade creditors to sell goods on credit terms, specifically in situations when creditors may not be comfortable extending the requested …
March 16, 2020
A perfected security interest is nothing without a collateral description. A properly perfected security interest requires compliance with Article 9, which includes a Security Agreement and the subsequent filing of …
March 11, 2019
If reducing your DSO, mitigating your risk and improving working capital aren’t reason enough to file UCCs, I’ve compiled a list of a few more reasons. Five more reasons! A …
November 26, 2018
The accuracy of your Security Agreement can make or break your properly perfected security interest. Compliance with Article 9 of the Uniform Commercial Code must be precise. Don’t fall victim …
November 16, 2018
A properly perfected security interest is nothing without a collateral description. In fact, it’s not properly perfected at all – it’s unperfected. A properly perfected security interest requires compliance with …
May 21, 2018
Yes, creditors can take a secured interest in a debtor’s liquor license in Pennsylvania, according to one recent Bankruptcy Court decision. In 2014, M&T Bank (M&T) loaned B&M Hospitality (B&M) …
March 5, 2018
Yes, that’s right. It’s yet another case of an unperfected security interest because the creditor failed to comply with Article § 9-503. In a fight for priority, a creditor claimed …
July 17, 2017
3-in-3 is a 3 question, 3 minute interview with an NCS colleague. Today’s 3-in-3 features Shannon Dooley in our Collection Services Group. Read this post to learn more about …
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