On-Demand   On-Demand Web Programs

Asset Based Financing Strategies 2017

Released on: Feb. 14, 2017
Running Time: 06:25:13

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 borrow funds against their own assets as collateral to generate cash for working capital and capital acquisitions without disturbing equity ownership.

In structuring these loans, asset-based loans are at the top of the company’s capital structure.  The loans enjoy that priority and are generally priced on that basis, because lenders rely on their collateral as their ultimate source of payment.  Accordingly, lenders and their counsel must consider all senior interests in the collateral, as well as the practical difficulties in obtaining payment in enforcement situations. Not only is a sound knowledge of the law required 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.

You will learn:

  • Brief review of the basic rules for attachment, perfection, priority and enforcement of a security interest under Article 9
  • Common asset-based financing structures for equipment, inventory and receivables financing with emphasis on borrowing base formulations for working capital assets
  • Priority issues relating to non-UCC liens
  • Enforcement and bankruptcy planning strategies
  • Trends in intercreditor arrangements and debtor in possession asset-based financing
  • Non-uniform provisions under the New York UCC relevant to asset-based lending
  • Cross-border asset-based financing issues

Special Feature:

  • Earn one full hour of Ethics credit

The program is intended for attorneys and asset-based lenders already experienced in the field or seeking a general refresher or update. The program will review the basics of asset-based lending briefly before concentrating on more advanced issues and strategies.


Lecture Topics [Total time 06:25:13]

Segments with an asterisk (*) are available only with the purchase of the entire program.


  • Asset Based Financing Foundations* [00:24:12]
    Edwin E. Smith
  • Inventory Financing [01:00:26]
    R. Marshall Grodner
  • Receivables Financing [01:01:12]
    Scott A. Lessne
  • Equipment Financing [00:58:49]
    Christine Gould Hamm
  • Priority and Enforcement [01:00:14]
    Joanne De Silva, Edwin E. Smith
  • Bankruptcy [01:00:50]
    Rachel Jaffe Mauceri, Peter Montoni, Edwin E. Smith
  • Ethics in Asset Based Lending [00:59:30]
    Peter C. Kostant, Edwin E. Smith

The purchase price of this Web Program includes the following articles from the Course Handbook available online:


  • COMPLETE COURSE HANDBOOK
  • A Summary of the Provisions of Article 9 of the Uniform Commercial Code (November 2016)
    Edwin E. Smith
  • Sample Form of UCC Article 9 Security Agreement and Perfection Certificate (All Personal Property Assets) (November 2016)
    Edwin E. Smith
  • Introduction to Asset-Based Lending (PowerPoint slides)
    Edwin E. Smith
  • Primer on Financing Inventory
    R. Marshall Grodner
  • Primer on Financing Inventory (PowerPoint slides)
    R. Marshall Grodner
  • Asset-Based Lending and Receivables Financing
    Scott A. Lessne
  • Receivables Financing (PowerPoint slides)
    Scott A. Lessne
  • Equipment Financing (November 11, 2016)
    E. Carolan Berkley, Teresa Wilton Harmon, Christine Gould Hamm
  • Equipment Financing (PowerPoint slides)
    Christine Gould Hamm
  • Intercreditor Agreements (Substantive Outline)
    Joanne De Silva
  • An Overview of the Treatment of Secured Creditors under Chapter 11 of the Bankruptcy Code (November 2016)
    Edwin E. Smith
  • Selected Bankruptcy Issues for Asset-Based Lenders (PowerPoint slides)
    Peter Montoni, Rachel Jaffe Mauceri, Edwin E. Smith
  • Selected Ethical Issues in Asset-Based Financing (Substantive Outline) (November 11, 2016)
    Christine Gould Hamm, Edwin E. Smith
  • Ethical Issues in Asset-Based Financing Transactions (PowerPoint slides)
    Peter C. Kostant, Christine Gould Hamm, Edwin E. Smith

Presentation Material


  • Asset Based Financing Foundations
    Edwin E. Smith
  • Inventory Fianancing
    R. Marshall Grodner
  • Receivables Financing
    Scott A. Lessne
  • Equipment Financing
    Christine Gould Hamm
  • Priority and Enforcement
    Joanne De Silva
  • Bankruptcy
    Rachel Jaffe Mauceri, Peter Montoni, Edwin E. Smith
  • Ethics in Asset Based Lending
    Christine Gould Hamm, Peter C. Kostant, Edwin E. Smith
Chairperson(s)
Edwin E. Smith ~ Morgan, Lewis & Bockius LLP
Speaker(s)
Joanne De Silva ~ Ropes & Gray LLP
R. Marshall Grodner ~ McGlinchey Stafford PLLC
Christine Gould Hamm ~ Senior Counsel, Wells Fargo Bank, N.A
Peter C. Kostant ~ Visiting Professor, New York Law School, Adjunct Professor, Fordham University School of Law and Brooklyn Law School,
Scott A. Lessne ~ Crowell & Moring LLP
Rachel Jaffe Mauceri ~ Morgan, Lewis & Bockius LLP
Peter Montoni ~ Associate General Counsel, Antares Capital, L.P.
General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.

PLI’s live and on-demand webcasts are single-user license products intended for an individual registrant only. Credit will be issued only to the individual registered.


U.S. MCLE States

Alabama:  PLI’s on-demand web programs qualify as “online” credit. Attorneys are limited to 6 credits of online programs per reporting period.

Alaska:  All PLI products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Arizona:  PLI’s on-demand web programs qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  PLI’s on-demand web programs are not approved for Arkansas CLE credit.

California:  PLI’s on-demand web programs qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All PLI products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Connecticut: Effective January 1, 2017, all PLI products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Delaware:  PLI’s on-demand web programs qualify as “eCLE” credit. Attorneys are limited to 12 credits of eCLE per reporting period, no more than 6 of which may be audio-only.

Florida:  All PLI products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Georgia:  PLI’s on-demand web programs qualify as “in-house” credit. Attorneys are limited to 6 in-house credits per reporting period.

Hawaii:  All PLI products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Idaho:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 15 credits of self-study per reporting period.

Illinois:  All PLI products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Indiana:  PLI’s on-demand web programs qualify as “distance education” credit. Attorneys are limited to 9 credits of distance education per reporting period.

Iowa:  PLI’s on-demand web programs qualify as “unmoderated” credit. Attorneys are limited to 6 credits of unmoderated programs per reporting period.

Kansas:  PLI’s on-demand web programs qualify as “prerecorded” credit. Attorneys are limited to 6 credits of prerecorded programs per reporting period.

Kentucky:  PLI’s on-demand web programs qualify as “non-live” credit. Attorneys are limited to 6 non-live credits per reporting period.

Louisiana:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 4 credits of self-study per reporting period.

Maine:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 5.5 credits of self-study per reporting period.

Minnesota:  PLI’s on-demand web programs qualify as “on-demand” credit. Attorneys are limited to 15 on-demand credits per reporting period.

Mississippi:  PLI’s on-demand web programs qualify as “distance learning” credit. Attorneys are limited to 6 credits of distance learning per reporting period.

Missouri:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 6 credits of self-study per reporting period.

Montana:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 5 credits of self-study per reporting period.

Nebraska:  PLI’s on-demand web programs qualify as “computer-based learning” credit. Attorneys are limited to 5 credits of computer-based learning per reporting period.

Nevada:  PLI’s on-demand web programs qualify as “self-study” credit. There is no limit to the number of credits an attorney can earn via self-study programs.

New Hampshire:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 6 credits of self-study per reporting period.

New Jersey:  PLI’s on-demand web programs qualify as “alternative verifiable learning formats” credit. Attorneys are limited to 12 credits of alternative verifiable learning formats per reporting period.

New Mexico:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 4 credits of self-study per reporting period.

New York

Experienced Attorneys:  All PLI products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Newly Admitted Attorneys:  PLI’s transitional on-demand web programs can be used to fulfill the requirements for New York newly admitted attorneys. Only professional practice and law practice management credits may be earned via transitional on-demand web programs. Ethics and skills credits may not be earned via on-demand web programs.

North Carolina:  PLI’s on-demand web programs qualify as “online” credit. Attorneys are limited to 6 credits of online programs per reporting period.

North Dakota:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 15 credits of self-study per reporting period.

Ohio:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

Oklahoma:  PLI’s on-demand web programs qualify as “online, on-demand” credit. Attorneys are limited to 6 credits of online, on-demand programs per reporting period.

Oregon:  All PLI products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Pennsylvania:  PLI’s on-demand web programs qualify as “distance learning” credit. Attorneys are limited to 6 credits of distance learning per reporting period.

Puerto Rico:  PLI’s on-demand web programs qualify as “non-traditional” credit. Attorneys are limited to 8 credits of non-traditional programs per reporting period.

Rhode Island:  PLI’s on-demand web programs qualify as “on-demand” credit. Attorneys are limited to 3 on-demand credits per reporting period.

South Carolina:  PLI’s on-demand web programs qualify as “alternatively delivered” credit. Attorneys are limited to 6 credits of alternatively delivered programs per reporting period.

Tennessee:  PLI’s on-demand web programs qualify as “distance learning” credit. Attorneys are limited to 8 credits of distance learning per reporting period.

Texas:  All PLI products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Utah:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

Vermont:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 10 credits of self-study per reporting period.

Virgin Islands:  All PLI products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Virginia:  PLI’s on-demand web programs qualify as “pre-recorded” credit. Attorneys are limited to 8 credits of pre-recorded programs per reporting period.

Washington:  PLI’s on-demand web programs qualify as “A/V” credit. Attorneys are limited to 22.5 credits of A/V programs per reporting period.

West Virginia:  PLI’s on-demand web programs qualify as “online” credit. Attorneys are limited to 12 credits of online instruction per reporting period.

Wisconsin:  PLI’s on-demand web programs qualify as “repeated, on-demand” credit. Attorneys are limited to 15 credits of repeated, on-demand programs per reporting period. No ethics credits can be earned via on-demand web programs.

Wyoming:  PLI’s on-demand web programs qualify as “self-study” credit. Attorneys are limited to 6 credits of self-study per reporting period.


CPD Jurisdictions

British Columbia (CPD-BC):  PLI’s on-demand web programs are not eligible for CPD-BC credit unless viewed with at least one other attorney or an articled student. In this case, the credit must be recorded as a “study group.”

Ontario (CPD-ON):  PLI’s on-demand web programs qualify as “recorded” credit. If viewed without a colleague, attorneys are limited to 6 credits of recorded programs per year. If viewed with at least one colleague, there is no limit to the number of credits that can be earned via recorded programs.

Quebec (CPD-QC):  PLI’s on-demand web programs can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  PLI’s on-demand web programs are not approved for CPD-HK credit.

United Kingdom (CPD-UK):  PLI’s on-demand web programs can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  PLI’s on-demand web programs may fulfill Australia’s CPD requirements. Credit limits for on-demand web programs vary according to jurisdiction. Please refer to your jurisdiction’s CPD information page for specifics.


Other Credit Types

CPE Credit (NASBA):  Select on-demand web programs qualify as “QAS Self-Study” credit. Please check the Credit Information box on the right-hand side of this page to verify CPE credit availability.

IRS Continuing Education (IRS-CE):  PLI’s on-demand web programs may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  PLI’s on-demand web programs may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  PLI’s on-demand web programs may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  PLI’s on-demand web programs may fulfill HR credit requirements.

SHRM Recertification (SHRM):  PLI’s on-demand web programs qualify as "self-paced" credit. SHRM professionals are limited to 30 credits of self-paced programs per recertification period.

Compliance Certification Board (CCB):  PLI’s on-demand web programs qualify as “self-study” credit. Candidates are limited to 10 self-study credits per 12-month period, and certification holders are limited to 20 self-study credits per 2-year renewal period.

Certified Anti-Money Laundering Specialists Certification (CAMS):  PLI’s on-demand web programs are not approved for CAMS credit.

New York State Social Worker Continuing Education (SW CPE):  PLI’s on-demand web programs are not approved for SW CPE credit.

American Bankers Association Professional Certification (ABA):  PLI’s on-demand web programs may fulfill ABA credit requirements.

 

Related Items

Live Programs  Live Programs

Asset Based Financing Strategies 2018 (New York, NY) Feb. 12, 2018

Handbook  Course Handbook Archive

Asset Based Financing Strategies 2018  
Asset Based Financing Strategies 2017 Edwin E Smith, Morgan, Lewis & Bockius LLP
 
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