Secured Transactions Practice: Security Agreements to Foreclosures, Part 2 - 2018

Secured transactions are the most common form of commercial transaction and help finance businesses of every size.  They are governed by the precise provisions of UCC Article 9. Getting every detail – financing statements, security agreements, perfection, foreclosure and sale – is essential.  These transactions can be complex, sometimes difficult to draft and costly, and full of risk. Failure to comply with UCC Article 9 in drafting security agreements, perfecting a creditor’s interest, or on the foreclosure of a lien can easily cause the value of the underlying transaction to be lost.  This program will provide you with a real-world guide to drafting the most important components of a security agreement, perfecting the interest, and cost-effective enforcement of liens.

• Framework for the foreclosure of personal property under UCC Article 9
• Foreclosing on equipment, inventory, intellectual property, and accounts receivable
• Duties of junior creditors to senior creditors on foreclosure
• Rights to proceeds of foreclosure sales and reducing foreclosure costs
• Rights of guarantors
• Debtor remedies in the event of a secured party default
• Cost-efficient alternatives to foreclosures and circumstances when these alternatives are available

Speaker: Steven O. Weise, Proskauer Rose, LLP, Los Angeles, CA

NOTE: This program was originally produced as a telephone seminar and is available on demand in streaming audio. This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for ethics or elimination of bias credit.