2017 Essentials of UCC 3-Part Series

Thursday, May 4 - Thursday, May 18, 2017

Location

Dial-in Instructions:
Dial-in instructions will be emailed prior to the date of the first webinar.

Description

 

Essentials of UCC

Three intensive workshops at your desk - May 4th, 11th, 18th, 2017 from 2:00pm - 3:00pm

Members: $495                Non-Members: $695

Most secured lenders know the basics of filing a UCC financing statement. Filing these records correctly is essential to ensuring perfection of the security interest in case the debtor defaults or files for bankruptcy. However, some transactions or events require the secured lender to comply with more complex rules or procedures. Secured lenders must be familiar with these situations to avoid the risk of making mistakes that could cause the loss of perfection or priority. This series of one-hour programs examines some select perfection issues in greater detail, including compliance with requirements for purchase-money security interests, post-filing debtor or collateral changes and the proper procedures for perfection of security interests in fixtures.

To register for an individual workshop, click the workshop title.

 

The PMSI Primer - May 4

The purchase-money security interest (“PMSI”) is a powerful risk management tool that provides secured lenders with first priority, even ahead of other creditors with prior security interests in the same collateral. To obtain a PMSI, the secured lender must file its financing statement and satisfy any notice requirements by the applicable statutory deadlines. This presentation explains what secured lenders must do to meet the strict statutory PMSI requirements and offers best practice suggestions for compliance. 

What attendees will learn:

  • How to calculate the applicable PMSI filing deadline
  • When notice is required to obtain PMSI priority
  • Notice timing and delivery method

 

The Amendment Minefield - May 11

Amending a UCC financing statement is a routine occurrence for many secured lenders following changes to the parties, collateral or status of the obligation. Yet, the amendment process comes with risk. Even minor errors when filing a UCC amendment can have harsh consequences for the secured party. This presentation explains the best practices for selecting the right amendment action, properly completing the UCC3 record and how to navigate around traps for the unwary amendment filer.

What attendees will learn:

  • Common errors to avoid in the amendment process
  • Amendment contents – what’s required and what’s not
  • When the secured party has an affirmative duty to file a termination statement

 

Through the UCC Fixture Fog - May 18

Secured lenders often find the UCC fixture filing rules confusing. It is never entirely clear whether particular goods require a fixture filing. Moreover, the UCC further complicates matters for the secured lender by offering multiple methods for perfecting a security interest in this collateral. This presentation seeks to provide secured lenders with more clarity and confidence by explaining the different options for perfecting a security interest in fixtures, the priority implications of each method and offering best practice suggestions for reliably perfecting security interests in fixtures.

What attendees will learn:

  • How courts determine whether goods are fixtures
  • Three methods for perfection of a security interest in fixtures under the UCC
  • Fixture filing content requirements

Instructor 

Paul Hodnefield
Associate General Counsel
Corporation Service Company

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Use "Active Registration" link above to edit a partial registration

Katie Valenti
212-792-9397
kvalenti@cfa.com

 

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