LexisNexis® Legal Newsroom
Alternatives "A" and "B": Debtor Names Under Revised UCC Section 9-503

Failure to correctly identify a debtor on a financing statement can be fatal to a creditor's attempted filing of a security interest. Newly adopted amendments to Uniform Commercial Code Article 9 are designed to clear up some areas of confusion regarding how debtors' names appear on financing...

Article 9 Security Interests in Commercial Tort Claims

Security interests in commercial tort claims require special attention to ensure that they are properly created and perfected under UCC Article 9. This is demonstrated by two recent Court of Appeals decisions. Ultimately, both Courts of Appeal held that the secured party's security interest did...

UCC Article 9 Security Interests and Voidable Sales Contracts

Credit sellers of large-ticket items reserve security interests in the items sold to secure the buyer's payment of the purchase price. These creditors sometimes get off track by assuming that Article 9 does not apply to the transaction. In a recent Virginia Supreme Court decision, an automobile dealer...

U.C.C. Article 9 Security Interests in FCC Licenses

Where the debtor is radio or television station, often the most valuable collateral will be the station's FCC broadcast license. But FCC licenses pose special problems for secured parties because of the federal restrictions on assignments and transfers of them. In a recent case, the Tenth Circuit...

Professor Margit Livingston on U.C.C. Article 9 Security Interests under the Federal Food Security Act

The normally impregnable status of the senior perfected security party is justified by the need to facilitate the extension of secured credit at reasonable interest rates. But in the case of buyers in the ordinary course of business, the policies work differently. Excerpt: Generally, senior...

You’re What You Own: Perfection of Security Interests in Investment Property

by Jamie Watkins Bruno Under Article 9 of the Uniform Commercial Code ("UCC"), a secured party perfects its security interest in investment property - such as certificated and uncertificated securities, securities accounts and commodity accounts - by acquiring "control" over...

Professor Margit Livingston on Changes in a Debtor's Business Structure under U.C.C. Article 9

A secured party that perfects its security interest without flaw at the outset can lose its perfected status because of post-filing changes in the debtor's business structure. It is incumbent upon secured parties to keep track of such changes and to act swiftly to preserve perfection at all times...