Learn
how lenders can use their rights under UCC Article 9 to successfully
collect on defaulted obligations.
Many lenders and borrowers aren’t familiar
with the full range of remedies available after a borrower defaults
on a secured obligation, and the lender decides to foreclose on its
collateral. Article 9 of the Uniform Commercial Code is a powerful,
but sometimes misunderstood, tool for borrowers and lenders.
This topic helps borrowers, lenders, and
their lawyers to understand what they can and can’t do under Article
9. Lenders and their lawyers will learn how to best use their rights
under Article 9 to collect on defaulted obligations. Borrowers and
their lawyers will learn how to protect their rights against lenders
who, in their zeal, may overstep the limits imposed on their powers
by Article 9.
Learning Objectives:
- You will be able to identify possible remedies under UCC
Article 9.
- You will be able to describe the procedures used to
foreclose on personal property under UCC Article 9.
- You will be able to recognize risks and rewards
associated with the various remedies available under UCC
Article 9.
- You will be able to explain why some remedies available
under UCC Article 9 are employed more often than others.
This Live Webinar Covers These Hot Issues:
Necessary Preparations and
Preliminary Steps
- Identifying Collateral
- Perfection
- Default and Right to Foreclose
Public and Private Sales
- Public and Private Sales Distinguished
- Procedures for Public and Private Sales
- Commercially Reasonable Disposition
Strict Foreclosure
- Distinguishing Features
- Procedures for Strict Foreclosure
- Benefits and Risks of Strict Foreclosure
Other Article 9 Remedies
- Notices to Account Debtors
- Setting off Deposit Accounts
- Recording Security Agreement in Land Offices
Application of Proceeds, and Post-Foreclosure Issues
- How to Apply Proceeds of Collateral
- Effect on Subordinate Interests
- Preference and Fraudulent Transfer Issues
Credit Information (Sponsored by Lorman Education Services)
For Detailed Credit Information page
click here
Only registered attendee will receive continuing education credit.
Faculty
Hugh McCullough, Davis Wright Tremaine
LLP
- Partner in the Seattle office of Davis Wright Tremaine
LLP
- Deputy chair of the firm’s commercial litigation
practice and chair of the firm’s bankruptcy practice
- Regularly advises clients in complex commercial and
bankruptcy litigation, state court receiverships, in-court
and out-of-court restructurings, and secured financing
transactions
- Started his legal career with Davis Polk & Wardwell in
New York, and joined Davis Wright Tremaine in 2009
- Member of the American Bankruptcy Institute and the
Turnaround Management Association
- Graduate of Kansas State University and the Northwestern
University School of Law
- Can be contacted at 206-622-3150 or hughmccullough@dwt.com
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