Recent Posts

Article 9 Security Interests in Commercial Tort Claims
Posted on 4 Nov 2011 by Margit Livingston

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... Read More

UCC Article 9 Security Interests and Voidable Sales Contracts
Posted on 18 Nov 2011 by Margit Livingston

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... Read More

Alternatives "A" and "B": Debtor Names Under Revised UCC Section 9-503
Posted on 26 Oct 2011 by Jennifer Martin

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... Read More

Perfecting a Security Interest: Is a Vessel a Consumer or Commercial Good?
Posted on 30 Nov 2012 by Corporate and Securities Law Community Staff

by Robert S. Fisher Enforcing security interests in tangible personal property depends on the characterization of the goods and the actual or intended use of the goods. The distinction between "consumer" and "commercial" characterization... Read More

You’re What You Own: Perfection of Security Interests in Investment Property
Posted on 7 Mar 2013 by Williams Mullen

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... Read More

Professor Margit Livingston on Changes in a Debtor's Business Structure under U.C.C. Article 9
Posted on 12 Jun 2013 by Margit Livingston

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... Read More

U.C.C. Article 9 Security Interests in FCC Licenses
Posted on 29 Nov 2012 by Margit Livingston

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... Read More

Filling Out Article 9 Financing Statements: Use of Approved Forms
Posted on 17 Nov 2011 by Margit Livingston

A secured party's failure to use approved forms to provide the names of additional debtors was fatal to its security interests in those debtors' assets. Secured parties who are listing multiple debtors should use the approved forms for providing... Read More

Professor Margit Livingston on U.C.C. Article 9 Security Interests under the Federal Food Security Act
Posted on 8 Jan 2013 by Margit Livingston

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... Read More