Equity Interests as Collateral: Creating and Enforcing Security Interests in Stocks, Partnerships and LLCs
Navigating Unique Planning and Documentation Issues, Avoiding Potential Pitfalls in Perfecting Security Interests
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will prepare counsel who advise lenders holding equity interests as collateral in commercial loans to properly perfect the security interests and to evaluate and pursue enforcement remedies in the event a borrower defaults.
Outline
- Common types of equity interests
- Stock
- Partnership and LLC interests
- Perfecting security interests in equity interests
- Lender remedies upon default
- Strict foreclosure
- UCC Section 9-610 sale
- Other options
Benefits
The panel will review these and other key issues:
- What challenges may arise when borrowers seek to use equity interests as collateral for commercial loans?
- What steps should lenders’ counsel take to avoid common pitfalls in creating and perfecting security interests in stock, partnership interests and LLC interests?
- What remedies are available to lenders under the UCC upon default on a loan secured by equity interests?
Faculty
James S. Cochran
Partner
O'Connor Cochran
Mr. Cochran has extensive experience advising clients in workouts and restructurings involving complex collateral... | Read More
Mr. Cochran has extensive experience advising clients in workouts and restructurings involving complex collateral packages and multiple jurisdictions. He represents clients in secured loan restructurings, structured asset dispositions, collateral “take backs,” and note sales. He was Co-Chair of the UCC Committee of the Business Law Section and is on the Board of Governors of the Financial Lawyers Conference.
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James D. Prendergast
SVP, Legal Counsel-UCC Division
First American Title Insurance Company
Mr. Prendergast is General Counsel of the Uniform Commercial Code Division of First American Title Insurance... | Read More
Mr. Prendergast is General Counsel of the Uniform Commercial Code Division of First American Title Insurance Company. Prior to joining First American in 2001, he was in private practice in the Los Angeles area for over 25 years concentrating his practice primarily in the areas of commercial and corporate finance. He is Co-Chair of the ABA Joint Task Force on Filing Office Operations and Search Logic.
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Steven O. Weise
Partner
Proskauer Rose
Mr. Weise practices in all areas of commercial law and has extensive experience in financing, especially in those... | Read More
Mr. Weise practices in all areas of commercial law and has extensive experience in financing, especially in those secured by personal property, including structured financing. He is regarded as one of the foremost authorities on Article 9 of the UCC. He is a member of the Permanent Editorial Board for the UCC and a member of the American Law Institute’s UCC Article 9 Drafting Committee. Mr. Weise is also the past chair of the American Bar Association’s Business Law Section Legal Opinions Committee.
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