Ethics Issues for Bankers and Lawyers With Secured Transactions

• Overview

Learn many of the ethical issues that face secured creditors in perfecting and enforcing their bargained-for interests.

Secured lenders carry a heavy burden in ensuring that their interests are properly preserved under the Uniform Commercial Code. This topic will help lenders and their attorneys address some of the ethical issues that face secured creditors in perfecting and enforcing their bargained-for interests. Address the recent and controversial decisions of the Second Circuit and Delaware Supreme Court regarding the filing of UCC-3 termination statements to prevent catastrophic errors. To enable lenders and their counsel better determine when the line might be crossed, the outer boundaries of the secured creditors' rights to repossess and sell the collateral will be explored. Review the myriad of problems faced by lenders when the debtor relocates so that lenders can make certain that they do not lose their security interests and their attorneys can avert malpractice claims.

Authors

Agenda

The GM Case and UCC-3 Termination Statements: Avoiding a Big Mistake

• Duty to File

• What Constitutes Authorization to File

• Impact of an Unauthorized Filing

Escaping Liability for the Repo Man

• Default

• Breach of the Peace - How Far Can the Lender Go?

• Commercially Reasonable Disposition of Collateral

Relocation of the Debtor: Pitfalls for the Unwary Lender

• Grace Period for Re-Perfection

• Corporate Conversion

• Movement of Collateral