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Risk Management Blog

UCC & Corporate Due Diligence

Resource Guide for Legal and Financial Professionals

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

UCC, Revised Article 9, Reduce Financial Risk Something

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… >> READ MORE


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?

UCC, Revised Article 9, Reduce Financial Risk Something

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… >> READ MORE


Are the termination provisions in the control agreement acceptable to the Lender?

UCC, Reduce Financial Risk Something

We're talking control agreements this week with attorney Bennett Cohen. We're midway through an eight part series on this topic, so if you need a refresher please check out our previous posts: Examining Issues with Control Agreements for Pledged Securities Accounts Is there adequate "control" language in the control agreement? Has the Broker subordinated its statutory first priority security interest in the Securities Account to… >> READ MORE


Additional Provisions That Should be Contained in the Control Agreement

UCC, Reduce Financial Risk Something

You've made it to the final blog post in our series on control agreements for pledged securities accounts, written by attorney Bennett Cohen of Cohen, Salk & Huvard P.C. For more information about his law firm, please see the website here. This blog post series is informational in nature and is not intended to constitute, nor should it be relied upon as, legal advice to any recipient. Additional Provisions That Should be Contained… >> READ MORE


Tips To Maintain Your Perfected Security Interest

Reduce Financial Risk, Tips, Lien Monitoring Something

Considering all the effort and resources you put into qualifying your debtors and perfecting your security interests, it's good to know there are some excellent tools you can utilize to help maintain that priority and make your efforts pay off. Why go to all the trouble to investigate a potential new debtor’s credit worthiness, and decide to perfect your security interest by filing a Financing Statement in the correct jurisdiction, if… >> READ MORE


How California Unsecured Creditors Can Protect Themselves From Bad Debt Losses

Reduce Financial Risk, Tips Something

Many of our clients in California are unsecured creditors, which means they do not file a security interest (such as a UCC) to ensure they are paid for products or services rendered. They essentially ‘front’ their product and expect their invoices to be paid in a timely fashion. Whether they are a wholesale produce distributor, waste management company or an office supply wholesaler, we have seen them experience the same problem—when… >> READ MORE


Free eBook on Lien-Related Post Funding Due Diligence

Due Diligence, Reduce Financial Risk, Lien Monitoring Something

As a lender, you need to know immediately if your customer is experiencing financial distress that could result in bankruptcy or debtor default. In this FREE guide you will find: Top 5 Mistakes to Avoid on UCC Financing Statements What a Search to Reflect can do for you When to File Continuation Statements Lien Monitoring Programs Importance of Monitoring to Reveal Name Variations Download this free guide today! >> READ MORE


Tips To Determine Which Party Names To Search When Lien Searching

UCC, Due Diligence, Reduce Financial Risk, Tips Something

Searching the correct party and correct legal name is imperative when coordinating due diligence search efforts. It is important to search all names under which liens could be filed. This may seem simple and obvious, but keep in mind that liens, particularly involuntary liens like federal tax liens and judgment liens, could be filed under business names, individual names, aliases, nicknames, or even fictitious business names. So, how… >> READ MORE


Does the filing of a notice of federal tax lien against a borrower prime an existing lender’s prior perfected security interest in all of the borrower’s present and future assets?

UCC, Reduce Financial Risk Something

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 may… >> READ MORE


Time To Choose A UCC Portfolio Manager? Here Are Some Tips To Consider

UCC, Online UCC System, Reduce Financial Risk, Tips Something

Is your UCC portfolio growing? Are your UCC management processes growing with it? Are your current UCC solutions able to scale to support your success? For example, have you ever missed the window for filing a UCC3 Continuation, and thus lost your perfected security interest? Are you still managing your UCC portfolio from a spreadsheet? Are you still filing direct with Secretary of States which require you to understand and navigate each… >> READ MORE