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Understanding UCC Article 9 Foreclosures

Date: Monday, July 30, 2018
Time: 1:00-2:30 pm ET

Sponsored by Lorman Education Services


Registration - Live Webinar Only: $219.00

Registration - Live Webinar Plus CD Recording: $288.00

 

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)

  • CLE
  • CPE
  • NASBA

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

(Not available outside the US)