This message is sent to you by Bank Newswatch

Understanding UCC Article 9 Foreclosures

Date: Tuesday, January 28, 2020
Time: 1:00-2:30 pm EST

Sponsored by Lorman Education Services


Registration - Live Webinar Only: $219.00

Registration - Live Webinar Plus CD Recording: $288.00

Explore whether a UCC foreclosure or an alternative remedy is the best option as the next downturn approaches so that all parties can be prepared.

There are indications that an economic downturn may be coming sooner than later, and many secured parties have not had to conduct a UCC foreclosure or otherwise exercise remedies over the last several years.

Some of the lessons and nuances of workouts, foreclosures and other remedy enforcement that were learned during the last downturn have been forgotten during the intervening economic boom.

This topic reminds both lenders and borrowers of those lessons and nuances. In particular, this topic will explore whether a UCC foreclosure or an alternative remedy is the best option, why workouts often benefit all parties involved and how UCC foreclosures operate when different collateral classes are involved. This information is critical as the next downturn approaches so that all parties can be prepared.

Learning Objectives:

  • You will be able to describe when a UCC foreclosure makes sense, and when other alternatives may produce a better result.
  • You will be able to to discuss what kinds of remedies best suit different classes of collateral and different situations.
  • You will be able to explain why it makes sense for all parties (including secured parties) to try to workout a troubled credit before commencing foreclosure.
  • You will be able to identify some potential pitfalls in a UCC foreclosure before they become actual pitfalls.

This Live Webinar Covers These Hot Issues:

When to Foreclose

  • Are All Defaults Created Equally?
  • Workouts Can Be Good for Everyone
  • Diligence, Diligence, Diligence

How to Foreclose

  • Giving the Proper Notice to All Parties
  • Different Remedies for Different Collateral and Different Situations
  • Whatever You Do, Be Commercially Reasonable

Issues Affecting Foreclosure

  • Rights of Third Parties
  • Some Lessons Learned in the Trenches

Credit Information (Sponsored by Lorman Education Services)

  • CLE
  • CPE
  • NASBA

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Faculty

Reed Mercado, Buchalter

  • Senior counsel in the Los Angeles office of Buchalter, P.C.
  • Has represented both senior and mezzanine secured lenders for over 12 years, in a wide variety of industries (including food & beverage, retail and entertainment, and in a wide variety of contexts (including syndicated, club and bilateral deals)
  • Focuses on documenting commercial finance transactions, and learned to do so during the last downturn by working out and restructuring troubled credits, conducting extensive diligence on troubled loan portfolios to identify weaknesses in documentation, enforcing UCC and other remedies, and guiding secured parties through both debtor-in-possession financing and collateral sales in a bankruptcy
  • Conducts regular seminars and workshops on numerous topical issues that are or will shortly be affecting commercial finance transactions, including trade tariffs, LIBOR and remedies enforcement
  • J.D. degree, Berkeley School of Law
  • Can be contacted at rmercado@buchalter.com or 213-891-5095

(Not available outside the US)