Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

UCC Termination Statements, a Trap for the Unwary: Part Nine

August 31, 2012 UCC

We are pleased to welcome back guest author, attorney, Bennett L. Cohen to the FCS blog! Read on for the ninth installment in his blog series addressing the intricacies of UCC Termination Statements. UCC Termination Statements, a Trap for the Unwary: Part Nine Some secured parties actually instruct a search company to exclude terminated financing statements from the search results, based on the mistaken belief that terminated UCC statements…READ MORE

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UCC Termination Statements, a Trap for the Unwary: Part Eight

August 24, 2012 UCC

We are pleased to welcome back guest author, attorney, Bennett L. Cohen to the FCS blog! Read on for the eighth installment in his blog series addressing the intricacies of UCC Termination Statements. UCC Termination Statements, a Trap for the Unwary: Part Eight If a UCC search reflects that a debtor has terminated its own filing, such fact raises an immediate red flag that the secured party shown on the terminated filing must be contacted…READ MORE

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Success! California Bulk Sales Law Remains Intact.

August 20, 2012 Legislation

We ALL truly did it! In the aftermath of our combined successful efforts to defeat SB12, the bill to repeal the Bulk Sale Law, First Corporate Solutions wishes to extend a sincere thank you to all of you who participated in the fight. The below associations, with their very able and experienced lobbyist representatives working in conjunction with First Corporate Solutions’ staff and our own lobbyist representation, came together in common…READ MORE

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UCC Termination Statements, a Trap for the Unwary: Part Seven

August 17, 2012 UCC

We are pleased to welcome back guest author, attorney, Bennett L. Cohen to the FCS blog! Read on for the seventh installment in his blog series addressing the intricacies of UCC Termination Statements. UCC Termination Statements, a Trap for the Unwary: Part Seven If a debtor has in fact paid off its debt in full to a secured party, and the secured party delays in providing terminations, a debtor is authorized to terminate the secured…READ MORE

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UCC Termination Statements, a Trap for the Unwary: Part Six

August 13, 2012 UCC

We are pleased to welcome back guest author, attorney, Bennett L. Cohen to the FCS blog! Read on for the sixth installment in his blog series addressing the intricacies of UCC Termination Statements. UCC Termination Statements, a Trap for the Unwary: Part Six Picking up where we left off last week, let’s examine a few more scenarios where a filed UCC termination is not authorized. A security interest in collateral evidenced by a UCC…READ MORE

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Breaking News! Senate Bill 12 / SB12 Update

August 09, 2012 Legislation

To our esteemed clients, friends and blog readers: [Updated 8/9/2012, 6:00 PM] Good news - First Corporate Solutions was told in our meeting this afternoon with Senator Corbett’s office that, even though the bill was amended again on 8/7/2012, the Senator has decided not to pursue SB 12 with provisions eliminating or even addressing the bulk sales law. Note that although this is fantastic news, there isn't 100% certainty until the amended…READ MORE

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UCC Termination Statements, a Trap for the Unwary: Part Five

August 03, 2012 UCC

We are pleased to welcome back guest author, attorney, Bennett L. Cohen to the FCS blog! Read on for the fifth installment in his blog series addressing the intricacies of UCC Termination Statements. UCC Termination Statements, a Trap for the Unwary: Part Five Let's examine some possible scenarios in which a filed UCC termination in a UCC search is not authorized (and consequently, not effective to terminate the UCC filing described therein): Many…READ MORE

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