UCC Foreclosures on Collateral: Effectuating a Sale and Evaluating Article 9 Alternatives
Paul Hastings partner
As defaults on commercial loans continue, secured creditors face greater challenges protecting their interests. While bankruptcy may be one avenue available to secured creditors, a foreclosure under UCC Article 9 may provide an attractive alternative. Foreclosure under Article 9 can be quicker, less expensive, and more predictable than a Section 363 sale. The UCC foreclosure process contains pitfalls for creditors and obstacles that must be addressed. With careful planning, counsel can overcome these issues and minimize the risks.
Peter Burke and Jennifer Hildebrandt will review the circumstances under which an Article 9 foreclosure is the preferred option to maximize value for the secured creditor. They will discuss, among other issues, the Article 9 foreclosure process and outline certain best practices to address obstacles inherent in Article 9 foreclosures.
The program is designed to appeal to both business and legal professionals.Visit the