UCC Article 9: Purchase Money Security Interests and Blanket Asset Lien Exclusions - A CLE Webinar
Presented by Strafford Publications | CLE
January 30, 2018
WHEN:
January 30, 2018
WHERE:
When structuring secured loans, many lenders require that borrowers and any guarantors grant a security interest in all of their assets. These so-called liens have many exclusions, however. Purchase money security interests are super liens that can take priority over blanket liens when the transaction involves the purchase of goods. The rules of perfection can be tricky and full of traps for the unprepared.
There are many types of personal property outside the scope of Article 9, including insurance, tort claims, and judgments as original collateral. Other commonly excluded collateral is carved out as a matter of market practice.
James C. Schulwolf, Partner at Shipman & Goodwin; Steven O. Weise, Partner at Proskauer Rose and Dean T. Kirby, Jr., Principal at Kirby & McGuinn, will provide commercial finance counsel with a discussion of items commonly carved out of Article 9 blanket liens, either by operation of law or by market practice. The panel will also review purchase money security interests, which are "super liens" that trump existing blanket liens.
The panel will review these and other key issues:
- What personal property is outside the scope of Article 9 and thus not covered by a blanket lien?
- What type of borrower deposit accounts are typically excluded from blanket liens?
- What are the perfection requirements for a PMSI?
For more information or to register, click here or call 1-800-926-7926 (ask for UCC Article 9: Purchase Money Security Interests on 1/30/18 and mention code: 3A1UT1-C9NCAZ).