Asset-based financing is a key source of credit for small and medium-size companies and for some larger, publicly traded companies as well. In contrast to equity financing where ownership in the company is diluted, asset-based financing allows companies to use their own assets to generate cash flow.
In structuring these loans, lenders and their counsel must consider all senior interests in the collateral, as well as the practical difficulties in obtaining payment in enforcement situations. Accordingly, asset-based lending requires not only a sound knowledge of the law, but also practical knowledge of the common drafting and enforcement issues likely to arise.
In this program, our expert faculty will explore the most common forms of asset-based financing, and the legal rules governing them, with particular emphasis on Article 9 of the Uniform Commercial Code and the Bankruptcy Code. In addition, the faculty will share what they have learned in representing secured creditors and borrowers in structuring asset-based loans and in enforcing them inside and outside of bankruptcy. The faculty will also discuss a number of ethical issues that arise in asset-based financings.
Lecture Topics [Total time 06:14:40]
Segments with an asterisk (*) are available only with the purchase of the entire program.
- Introduction and Opening Remarks* [00:12:17]
Edwin E. Smith
- Equipment Financing Issues [01:00:04]
Christine Gould Hamm, R. Marshall Grodner, Scott A. Lessne
- Inventory Financing Issues [01:03:29]
R. Marshall Grodner
- Receivables Financing [00:58:05]
Scott A. Lessne, R. Marshall Grodner, Christine Gould Hamm
- Priority and Enforcement Issues [00:59:58]
Edwin E. Smith, Joanne DeSilva, R. Marshall Grodner, Christine Gould Hamm, Scott A. Lessne
- Bankruptcy -- Hot Issues for Secured Creditors [01:01:22]
Edwin E. Smith, June L. Basden, Christine Gould Hamm, Scott A. Lessne, Joanne DeSilva
- Ethics in Asset-Based Lending [00:59:25]
Edwin E. Smith, Christine Gould Hamm, June L. Basden, Scott A. Lessne, Joanne DeSilva
The purchase price of this Web Program includes the following articles from the Course Handbook available online:
- A Summary of the Provisions of Article 9 of the Uniform Commercial Code
Edwin E. Smith
- Sample Form of UCC Article 9 Security Agreement and Perfection Certificate (All Personal Property Assets)
Edwin E. Smith
- Equipment Financing
E. Carolan Berkley, Teresa Wilton Harmon, Christine Gould Hamm
- Primer on Financing Inventory: Back to the Basics
R. Marshall Grodner
- Asset Based Lending and Receivables Financing
Scott A. Lessne
- An Overview of the Treatment of Secured Creditors Under Chapter 11 of the Bankruptcy Code
Edwin E. Smith
- Selected Ethical Issues in Asset-Based Lending
Christine Gould Hamm
- Equipment Financing Issues (PowerPoint Slides)
Edwin E. Smith, Christine Gould Hamm
- Primer on Financing Inventory: Back to the Basics (PowerPoint Slides)
R. Marshall Grodner
- Receivables Financing (PowerPoint Slides)
Scott A. Lessne
- Selected Bankruptcy Issues for Asset-Based Lenders (PowerPoint Slides)
Edwin E. Smith, June L. Basden
- Ethics in Asset-Based Lending (PowerPoint Slides)
Edwin E. Smith, Christine Gould Hamm
- Index to Asset Based Financing Strategies 2013
Presentation Material
- Equipment Financing Issues
Christine Gould Hamm
- Inventory Financing Issues
R. Marshall Grodner
- Receivables Financing
Scott A. Lessne
- Bankruptcy - Hot Issues for Secured Creditors
Edwin E. Smith, June L. Basden
- Ethics in Asset-Based Lending
Edwin E. Smith, Christine Gould Hamm
PLI makes every effort to accredit its On-Demand Web Programs and Segments. Please check the CLE Calculator above for CLE information specific to your state.
On-Demand Web Programs and Segments are approved in:
Alabama1, Alaska, California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho*, Illinois , Iowa2*, Kansas, Kentucky*, Louisiana, Maine*, Mississippi, Missouri3, Montana, Nebraska, Nevada, New Hampshire4, New Jersey, New Mexico5, New York6, North Carolina7, North Dakota, Ohio8, Oklahoma9, Oregon*, Pennsylvania10, Rhode Island11, South Carolina, Tennessee12, Texas, Utah, Vermont, Virginia13, Washington, West Virginia, Wisconsin14 and Wyoming*.
Iowa, Mississippi, Oklahoma, and Wisconsin DO NOT approve Audio Only On-Demand Web Programs.
Minnesota approves live webcasts ONLY
Please Note: The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. PLI programs may qualify for credit based on the requirements outlined in the MCLE Regulations and Ariz. R. Sup. Ct. Rule 45.
*PLI will apply for credit upon request. Louisiana and New Hampshire: PLI will apply for credit upon request for audio-only on-demand web programs.
1Alabama: Approval of all web based programs is limited to a maximum of 6.0 credits.
2Iowa: The approval is for one year from recorded date. Does not approve of Audio-only On-Demand Webcasts.
3Missouri: On-demand web programs are restricted to six hours of self-study credit per year. Self-study may not be used to satisfy the ethics requirements. Self-study can not be used for carryover credit.
4New Hamphsire: The approval is for three years from recorded date.
5New Mexico: On-Demand web programs are restricted to 4.0 self-study credits per year.
6New York: Newly admitted attorneys may not take non-traditional course formats such as on-demand Web Programs or live Webcasts for CLE credit. Newly admitted attorneys not practicing law in the United States, however, may earn 12 transitional credits in non-traditional formats.
7North Carolina: A maximum of 4 credits per reporting period may be earned by participating in on-demand web programs.
8Ohio: To confirm that the web program has been approved, please refer to the list of Ohio’s Approved Self Study Activities at http://www.sconet.state.oh.us. Online programs are considered self-study. Ohio attorneys have a 6 credit self-study limit per compliance period. The Ohio CLE Board states that attorneys must have a 100% success rate in clicking on timestamps to receive ANY CLE credit for an online program.
9Oklahoma: Up to 6 credits may be earned each year through computer-based or technology-based legal education programs.
10Pennsylvania: PA attorneys may only receive a maximum of four (4) hours of distance learning credit per compliance period. All distance learning programs must be a minimum of 1 full hour.
11Rhode Island: Audio Only On-Demand Web Programs are not approved for credit. On-Demand Web Programs must have an audio and video component.
12Tennessee: The approval is for the calendar year in which the live program was presented.
13Virginia: All distance learning courses are to be done in an educational setting, free from distractions.
14Wisconsin: Ethics credit is not allowed. The ethics portion of the program will be approved for general credit. There is a 10 credit limit for on-demand web programs during every 2-year reporting period. Does not approve of Audio-only On-Demand Webcasts.
Running time and CLE credit hours are not necessarily the same. Please be aware that many states do not permit credit for luncheon and keynote speakers.
If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.
Note that some states limit the number of credit hours attorneys may claim for online CLE activities, and state rules vary with regard to whether online CLE activities qualify for participatory or self-study credits. For more information, call Customer Service (800) 260-4PLI (4754) or e-mail info@pli.edu.