Security Interests and Article 9 Non-Judicial Foreclosures

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A secured lender relies on its valid and perfected security interest in collateral pledged by a debtor to leverage and exercise its remedies upon a default. This program addresses the mechanics of perfection of security interests in various types of collateral and the non-judicial foreclosure remedies and process available to secured creditors, and the rights of debtors, under Article 9 of the Uniform Commercial Code.

The panel will discuss how to obtain and perfect a security interest in collateral, examine circumstances where non-judicial foreclosure remedies may be beneficial to the secured creditor, and summarize the non-judicial foreclosure provisions in Article 9 of the UCC.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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