Security Interests in Different Classes of Collateral Under the Classification Scheme of Article 9
1 hour 5 minutes
Understand how to create, perfect, gain, and maintain priority of debt and other payment obligations under Article 9 of the UCC.
Getting what you have bargained for, the right to collect by realizing on your collateral can be challenging at times in our complicated real-world environment. You have to comply with UCC Article 9 requirements and worry about the UCC lien priority regime. Then you have to worry about competing federal tax liens, other federal and state law liens (statutory and judicial), the effect of bankruptcy, and other insolvency laws. This presentation will help attendees discuss those challenges.
• You will be able to define a perfected Article 9 Security Interest.
• You will be able to describe how to perfect a security interest in different classes collateral.
• You will be able to explain how the Article 9 lien priorities can be modified by contract
• You will be able to identify the bankruptcy risks faced by lenders.