UCC Recent Developments: Practical Implications for Lenders' Security Interests

Evaluating Impact on Mortgage Notes, Treatment of LLPs, Anti-Assignment Terms on Security Interests, and Recent Case Law

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


Conducted on Thursday, December 20, 2012

Recorded event now available

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Program Materials

This CLE webinar will review the practical implications of recent UCC developments on lenders’ security interests. The panel will discuss the impact on mortgage notes, treatment of limited liability partnerships, anti-assignment terms on security interests, recent case law, and a summary of the status of the 2010 Amendments to Article 9.

Description

Changes to various sections in the UCC have significant impact that must be understood by corporate finance counsel. Also, during the past 12 months, the Permanent Editorial Board for the Uniform Commercial Code issued one report and one new commentary and issued another commentary in draft form.

Key areas include the impact of the UCC on the transfer and enforcement of real estate mortgage notes, the treatment of limited liability partnerships under choice of law provisions of Article 9, the effect of anti-assignment terms on security interests in partnership and LLC interests, and recent case law developments.

The 2010 Amendments to Article 9 coming into effect are already influencing court decisions. Developments include cases dealing with the sufficiency of a debtor name on a financing statement, sufficiency of collateral descriptions, perfection by filing with multiple debtors, and cross-border transactions.

Listen as our authoritative panel of attorneys discusses key UCC developments and their effect on lenders’ security interests, reviews the status of the 2010 Amendments to Article 9, and highlights case law trends.

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Outline

  1. Impact of the UCC on the transfer and enforcement of real estate mortgage notes
  2. Treatment of limited liability partnerships under the choice of law provisions of Article 9
  3. Effect of anti-assignment terms on security interests in partnership and LLC interests
  4. Recent case law developments
    1. Sufficiency of a debtor name on a financing statement
    2. Sufficiency of collateral descriptions
    3. Perfection by filing with multiple debtors
    4. Proceeds
    5. Cross-border transactions
  5. Status of 2010 Amendments to Article 9

Benefits

The panel will review these and other key questions:

  • What is the impact of the UCC changes on the transfer and enforcement of real estate mortgage notes?
  • How do recent UCC developments affect anti-assignment terms on security interests in partnership and limited liability company interests?
  • What key recent case law trends should be noted by counsel?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Smith, Edwin
Edwin E. Smith

Partner
Morgan Lewis & Bockius LLP

Mr. Smith focuses his practice in general corporate and commercial law, debt financings, structured financings,...  |  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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