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UCC Article 9

Distressed Businesses

Dealing with Corporate Distress 18: Buying & Selling Distressed Businesses

Sellers and buyers must know the key elements of selling a distressed business outside of bankruptcy. Levels of protection vary on both sides.


What is Article 9 of the UCC

90 Second Lesson: What is a “UCC Article 9” Sale?

An Article 9 sale allows a creditor to sell its collateral to a third party in a private or public sale without the need for judicial proceedings.


Dealing With Defaults Under Article 9 of UCC A Player’s Guide for the 21st Century

Dealing With Defaults Under Article 9 of UCC: A Player’s Guide for the 21st Century

What are the legal remedies available under Article 9 of the UCC to a lender whose loan is secured by the personal property of a borrower who is in default? How can these legal remedies can be implemented in practice?


Article 9 Sale

90 Second Lesson: What is a UCC Article 9 Sale?

An Introduction to UCC Article 9 Question: What is it? Jack B. emailed, asking, “Please explain what an Article 9 sale is. My lawyer said that if I give a security interest to a lender, it can do an Article 9 sale.  What is an Article 9 sale?” Answer: It’s a Creditor’s Remedy to Enforce […]


Liquidity Crisis is a Melting Ice Cube

How a Distressed Company Can Manage Cash and Stakeholders in a Liquidity Crisis

Considerations for Companies in a Cash Crisis A liquidity crisis is a severe financial situation in which a company does not have enough cash or cash-convertible assets, which can lead to defaults and bankruptcy. Managing cash is critical when working to preserve or maintain solvency in order to maximize opportunities for a successful turnaround or […]


Incorporation by Reference in UCC-1 Filings

Incorporation by Reference in UCC-1 Filings

How Brevity in Financing Statements Can Lead to Insufficient Collateral Descriptions Our fast-paced society, coupled with the tendency for people to use shorthand in communications by emails and Twitter, influences everyone to look for ways to save time and be less verbose. When preparing and filing a UCC-1, however, brevity can be the filer’s enemy. […]


Lender liability and overreach

Lender Liability Claims are Alive and Well: A Case Study

Lender Liability Law Protects Distressed Borrowers from Unfair Practices The relationship between a lender and borrower can be complex. The borrower wants capital to run and grow its business, and the lenders want to earn a return and eventually get their principal back. If the borrower complies with the terms of the loan, all is […]


Consignment agreement for goods in bankruptcy

Consignment Arrangements: Dos & Don’ts to Avoid Getting Hurt

What Happens When Your Consignee Becomes Distressed and What You Can Do I was speaking with a client yesterday about consignment arrangements. What we discussed should be of interest to any company that sells goods using a consignment arrangement, and I thought I would share. What is a Consignment Arrangement? In a consignment arrangement, the […]


Buying a distressed business

90 Second Lesson: First Step Before Buying a Distressed Business

How Types of Sales Affect the Purchase of a Distressed Business   Editor’s Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to [email protected] and we will try to answer it.   Question What is the first integral decision a buyer must make […]


363 vs Article 9 Sale

90 Second Lesson: Selling Collateral in a 363 Sale vs Article 9 Sale

Why a Secured Creditor May Push to Sell Collateral Outside of Bankruptcy   Editors’ Note: This is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to [email protected] and we will try to answer it. Question: An investment banker recently wrote in, saying: “I am currently […]


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