See Credit Details Below
Why You Should Attend
Secured transactions -- interests in specific collateral granted by the debtor in conjunction with the debtor’s promise to pay -- are governed by Article 9 of the Uniform Commercial Code. Understanding UCC Article 9 and how to properly secure collateral is fundamental for attorneys at all levels of their banking, commercial, corporate, and transactional practice.
The faculty of experienced UCC practitioners will address the fundamentals of acquiring a security interest, including how to attach, to perfect (filing and non-filing methods), and to gain (and maintain) priority in the collateral of your choice. They will share their best practices on how to secure the most common forms of collateral, as well as how to perfect a security interest in some uncommon forms of collateral. There will be an in depth discussion on UCC considerations when things go wrong, and a review of common default and enforcement issues, including protecting your security interest from the bankruptcy trustee. Attendees will also have the opportunity to improve their understanding of how to best draft a security agreement. Throughout the program the faculty will feature relevant new case law as well.
What You Will Learn
- Where to file
- Is perfection by filing the best method?
- How to describe the collateral
- Determining the debtor’s name
- How to categorize collateral
- Techniques for drafting the security agreement
- What are the non-temporal priorities, and why do they matter?
- How do you know that the security interest has attached?
- How to perfect in assets commonly held by individuals, including bitcoins and PayPal accounts
- How to comply with the default enforcement rules
- What is the difference between a public and private sale?
- When can the secured creditor buy in at the sale?
- How bankruptcy can affect your lien
Program Level: Overview
Intended Audience: This program is aimed at corporate, banking, commercial and transactional attorneys (both newly admitted and experienced).
Prerequisites: An interest in understanding UCC Article 9 and how to properly secure collateral.
Advanced Prep: None