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NCS COVID-19 State and County Updates
September 14, 2020
Purchase Money Security Interest (PMSI) Filings were created to encourage trade creditors to sell goods on credit terms, specifically in situations when creditors may not be comfortable extending the requested …
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September 23, 2019
An Illinois Court of Appeals has reversed the Bankruptcy Court’s decision in 180 Equipment, LLC v First Midwest Bank, which had allowed the bankruptcy trustee to avoid the security interest …
September 9, 2019
I can’t begin to tell you the number of times I have said or written some variation of “… when filing a UCC, always list the individual’s name as it …
June 24, 2019
Who enjoys a good ol’ mystery game? Today’s mystery is why a Georgia Bankruptcy Court deemed one creditor’s UCC filing seriously misleading, thus making the creditor’s security interest unperfected. First, …
July 9, 2018
The U.S. Bankruptcy Court in Missouri recently determined a creditor’s priority in collateral at one address and priority in a blast booth installed on another property, based on the creditor’s …
March 5, 2018
Yes, that’s right. It’s yet another case of an unperfected security interest because the creditor failed to comply with Article § 9-503. In a fight for priority, a creditor claimed …
February 19, 2018
Let me repeat: The Financing Statement must list the debtor’s name as it appears on the debtor’s unexpired driver’s license. But what happens if the printed name on the driver’s …
October 9, 2017
As we prepare and review UCC filings, clients frequently ask us, “Does an extra space in my customer’s registered name really matter?” and “Does it matter whether I identify my …
April 28, 2017
For creditors utilizing UCC filings, you know these two things to be true: Location matters Collateral descriptions matter Unfortunately for one creditor, including the location of its inventory within the …
March 6, 2017
In a recent court decision, one creditor’s security interest was eliminated because they spelled the individual debtor’s name correctly. Yes, I said “correctly.” Because, in this case, “correctly” and …
November 1, 2016
You have taken the meticulous steps to properly perfect your security interest. You may have spent countless frustrating hours going back and forth with your legal department to agree on …
August 26, 2016
The UCC filing process may not seem as convoluted as the mechanic’s lien process but there is a tradeoff for the apparent simplicity of UCC filings: strict adherence. See, …
Education Center
Education Center
