UCC Security Interests in Payment Intangibles: Intercompany Loans, Debt Obligations and "Promissory Notes"
Perfecting Interests in Financial Instruments and Contractual Payment Obligations
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will examine the treatment of UCC security interests in debt obligations, intercompany debt/loans, loans called "promissory notes," and other payment intangibles under the UCC. The program will guide counsel in creating and perfecting security interests in these contractual payment obligations.
- Article 9 definition of payment intangibles
- Specific types of payment intangibles (commercial loans, intercompany loans and loans called promissory notes, but that are payment intangibles)
- Difference between a payment intangible, an account, chattel paper and true promissory notes
- Pitfalls facing secured parties with automatic perfection
The panel will review these and other key issues:
- What are the potential pitfalls for secured parties seeking perfection and priority of secured interests in payment intangibles?
- How can counsel determine whether a contractual payment obligation is a payment intangible not falling within any other U.C.C.-delineated category of intangible rights?
- What is the difference between a payment intangible, chattel paper and a true promissory note?
Dean T. Kirby, Jr.
Kirby & McGuinn
Mr. Kirby represents lenders, creditors and fiduciaries in bankruptcy, foreclosure commercial collection,... | Read More
Mr. Kirby represents lenders, creditors and fiduciaries in bankruptcy, foreclosure commercial collection, receiverships, workouts and lending transactions. He is certified by the American Board of Certification in the field of Creditors' Rights and by the Board of Specialization of the State Bar of California in the field of Bankruptcy. He is the only San Diego lawyer to have achieved certification in both Creditor Rights and Bankruptcy.Close
Professor Thomas E. Plank
Joel A. Katz Distinguished Professor of Law
University of Tennessee College of Law
Mr. Plank is a nationally recognized speicalist on mortgage backed and asset backed securities. Before joining the UT... | Read More
Mr. Plank is a nationally recognized speicalist on mortgage backed and asset backed securities. Before joining the UT faculty, he concentrated his law practice in real estate finance, commercial finance, public fiance, securities transactions and bankruptcy. He published many articles on bankruptcy law, securitization, and the treatment of receivables under Article 9 of the Uniform Commercial Code. Mr. Plank is also Of Counsel, Morgan Lewis & Bockius LLP.Close
Steven O. Weise
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.Close