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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

UCC Filings with Missing Attachment Pages Pose Risk for Secured Parties

October 21, 2011 UCC

The collateral description is a critical piece of a UCC Financing Statement. This section is where a secured party details what items the debtor has offered as collateral to secure the loan. In many cases, secured parties elect to put their collateral description on an attachment rather than within the confines of Box 4 on the UCC Financing Statement form. Attachment pages are particularly common when the transaction requires a lengthy equipment…READ MORE

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Upcoming Changes to Revised Article 9

October 14, 2011 UCC, Due Diligence, Revised Article 9

As many of you are probably aware, state filing offices are in the process of reviewing and approving a set of proposed amendments to Revised Article 9 (RA9) of the Uniform Commercial Code. The proposed changes are designed to bring about increased consistency between filing offices and to offer answers to some questions that have been raised in the courts since RA9’s adoption back in 2001. As we have discussed on this blog on several…READ MORE

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Delaware UCC Search Options

October 03, 2011 UCC, Due Diligence

Delaware UCC Search Options It is important to have a good working knowledge of a state’s search logic prior to ordering or performing UCC searches in that jurisdiction. With so many businesses organizing in the State of Delaware, it has also become a hotbed of UCC searching activity and in this blog post, we offer some information on performing UCC searches there. Delaware Certified Searches The Delaware Secretary of State provides…READ MORE

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