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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

UCC Q&A with Attorney Bennett Cohen

May 22, 2014 UCC

Do you have UCC questions?  Attorney Bennett Cohen of Illinois law firm Cohen, Salk & Huvard, P.C., has the answers. You may also want to check out his eBook on Purchase Money Security Interests (PMSI). Question: Interplay between Inventory and Accounts—Can a prior UCC filing against a debtor’s inventory prime a lender’s subsequent UCC filing against the debtor’s accounts? Answer: Yes. Since accounts are “proceeds”…READ MORE

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Technology Trends for Legal Professionals

May 20, 2014 Tips

Legal professionals have always endured demanding workloads, strict deadlines and fast-paced environments. Technology has advanced rapidly over the last several years, offering new virtual channels for legal professionals to manage their workloads. We have spotted a few trends and tools from the legal industry and compiled them here. Tools Increasing efficiency and maintaining security are top of mind issues for legal professionals. Again,…READ MORE

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Does a lender need to file a precautionary UCC filing against the lessee of the equipment to perfect the lender’s security interest in the leased equipment?

May 15, 2014 UCC, Revised Article 9, Reduce Financial Risk

Do you have UCC questions about equipment leases?  Are you at risk to losing priority to other creditors? Attorney Bennett Cohen of Illinois law firm Cohen, Salk & Huvard, P.C., gets asked questions like this all the time, and has taken the time to write some answers. You may also want to check out his eBook on Purchase Money Security Interests (PMSI). Precautionary UCC Filings against Lessees of Equipment: Does a lender need to…READ MORE

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Does a lender need to take possession of the original leases to perfect its security interest in the equipment leases?

May 08, 2014 UCC, Revised Article 9, Reduce Financial Risk

Do you have UCC questions about equipment leases?  Are you at risk to losing priority to other creditors? Attorney Bennett Cohen of Illinois law firm Cohen, Salk & Huvard, P.C., gets asked questions like this all the time, and has taken the time to write some answers. You may also want to check out his eBook on Purchase Money Security Interests (PMSI). Pledges of Equipment Leases: Does a lender need to take possession of the original…READ MORE

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First Corporate Solutions Releases New Hampshire to Online System

May 02, 2014 Services / System Update, Online UCC System

First Corporate Solutions is pleased to announce the release of New Hampshire data and image library to our online UCC search system. As of Monday, May 5, 2014, active online users can log on to www.ficoso.com and search our reliable state-direct UCC and tax lien data complemented by an expansive library of clear, downloadable document images. This adds a total of 199,195 filings to our online system. The FCS online system adds value to…READ MORE

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Must the IRS file a notice of federal tax lien against the exact legal name of the borrower?

May 01, 2014 UCC, Lien Monitoring

Do you have questions about how your perfected security interest will be affected by a federal tax lien? Are you at risk to losing priority in regard to after-acquired collateral in the event a federal tax lien is filed against your debtor? Attorney Bennett Cohen of Illinois law firm Cohen, Salk & Huvard, P.C., gets asked questions like this all the time, and has taken the time to write some answers regarding federal tax liens. You…READ MORE

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