UCC Article 9 Update on Searching and Filing: Lessons Learned Under Amended Rules, Best Practices for Secured Lenders

Recording of a 90-minute CLE webinar with Q&A


Conducted on Thursday, February 23, 2017

Recorded event now available

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Program Materials

This CLE webinar will brief commercial finance attorneys on the 2010 UCC Article 9 amendments and outline best practices for secured lenders regarding filing and searching methods under the amended rules. The program will also address recent case law developments since the amendments became effective.

Description

The amendments to the UCC Article 9 secured lending rules, which have now been adopted in all states and the District of Columbia, made certain changes to filing procedures and searching methods.

Key changes included clarification of the debtor’s name to be provided on a financing statement, especially for individuals, an expanded definition of “registered organization,” clarification of filing rules for trusts, greater protection for after-acquired assets if the debtor changes location or merges, and modification of the national form of financing statement.

In light of these amendments, UCC practitioners must be aware of the potential pitfalls arising from the revised procedures and exercise due diligence to ensure that security interests are properly perfected and priority protected.

Listen as our authoritative panel of attorneys discusses the key provisions of the UCC Article 9 secured lending rules, focusing on changes in filing procedures, searching methods and due diligence practices. The panel will discuss recent case law developments and outline best practices for lenders operating under the amended rules.

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Outline

  1. Key changes in the 2010 Article 9 amendments
    1. Filing procedures
    2. Filing rules for trusts
    3. Searching methods
    4. Debtor’s name
    5. Change in debtor’s location or merger
    6. National forms
  2. New York non-uniform provisions
  3. Recent case law developments
  4. Pitfalls and traps for the unwary
  5. Due diligence practices for secured lenders

Benefits

The panel will review these and other key issues:

  • What were the key changes in the UCC Article 9 amended rules related to searching and filing?
  • What are some of the lessons learned from operating under the amended rules and what issues have been the subject of litigation?
  • How are UCC practitioners managing their search, filing and monitoring responsibilities after the amendments?

Faculty

Smith, Edwin
Edwin E. Smith

Partner
Morgan, Lewis & Bockius

Mr. Smith concentrates his practice in commercial law, debt financings, structured financings, workouts, bankruptcies,...  |  Read More

Weise, Steven
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

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Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

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