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Understanding UCC Article 9 Foreclosures

 

Gain a better understanding of what UCC Article 9 foreclosure is and how it differs from bankruptcy liquidation.

Many parties involved in secured transactions do not know or understand their options upon default. Bankruptcy liquidation is merely one method upon which a secured creditor may rely to recover their collateral. However, bankruptcy can be time-consuming and a costly solution for all parties involved. This presentation will introduce a direct and simple alternative method to those who do not wish to proceed to bankruptcy or other judicial proceedings. A UCC foreclosure is a non-judicial proceeding commenced by a secured creditor that may prove useful to parties when there is no dispute as to the obligation owed. This topic will explain the methods secured creditors may use during the disposition of collateral and the requirements for each method of disposition. You will also learn the standard and factors courts often consider when determining whether the parties have complied with the UCC enforcement rules. Lastly, you can expect to identify and hopefully avoid challenges and pitfalls faced by other creditors post-disposition.

Agenda

Faculty

Kirk B. Burkley, Esq.

Kirk B. Burkley, Esq.

Bernstein-Burkley, P.C.

  • Managing partner of Bernstein-Burkley, P.C.
  • Practice emphasizes all aspects of bankruptcy and restructuring, creditors’ rights, business and corporate transactions, litigation, real estate, and oil and gas
  • Conducts regular seminars/live webinars and workshops on bankruptcy, creditors’ rights, and oil and gas
  • Author of several publications related to the bankruptcy field, with work appearing in ABI Journal, Equipment Leasing Newsletter, Pennsylvania Association of Credit Managers Newsletter The Creditor, and more
  • Emeritus Board Member of the American Board of Certification, past president of the American Board of Certification, past president of Turnaround Management Association, member of Allegheny County Bar Association, American Bankruptcy Institute
  • J.D. degree, University of Pittsburgh School of Law; B.S. degree, Ohio University
  • Can be contacted at [email protected] or 412-456-8108
Sarah E. Wenrich, Esq.

Sarah E. Wenrich, Esq.

Bernstein-Burkley, P.C.

  • Bankruptcy and restructuring associate at Bernstein-Burkley, P.C.
  • Practice focuses on commercial bankruptcy
  • Served as an extern for the Honorable Kevin R. Huennekens of the United States Bankruptcy Court for the Eastern District of Virginia, where she gained significant exposure to complex bankruptcy cases and issues, and had the opportunity to assist in drafting and editing opinions
  • J.D. degree, cum laude, University of Richmond; B.A. degree, cum laude, University of Pittsburgh
  • Can be contacted at [email protected] or 412-456-8106

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