Video

  • 14 minutes

UCC Article 9 Foreclosures: Diligence, Diligence, Diligence

 

The most important component of UCC foreclosures is diligence.

Before foreclosing, particularly from the lender's perspective, it is extremely important to not wander into a trap. Often times clients find themselves in a default situation and are emotional and want to start foreclosing right away but it's important to caution patience for them. Before commencing foreclosure it is important to make sure that your client is on firm ground. During the post-default stage it is important to look at any pitfalls or ways that a foreclosure can be problematic. This video reviews what documents you should take them time to examine and what diligence will reveal.

Runtime: 14 minutes

Agenda

Faculty

Reed Mercado

Reed Mercado

Buchalter

  • Senior counsel in the Los Angeles office of Buchalter, P.C.
  • Has represented both senior and mezzanine secured lenders for over 12 years, in a wide variety of industries (including food & beverage, retail and entertainment, and in a wide variety of contexts (including syndicated, club and bilateral deals)
  • Focuses on documenting commercial finance transactions, and learned to do so during the last downturn by working out and restructuring troubled credits, conducting extensive diligence on troubled loan portfolios to identify weaknesses in documentation, enforcing UCC and other remedies, and guiding secured parties through both debtor-in-possession financing and collateral sales in a bankruptcy
  • Conducts regular seminars and workshops on numerous topical issues that are or will shortly be affecting commercial finance transactions, including trade tariffs, LIBOR and remedies enforcement
  • J.D. degree, Berkeley School of Law
  • Can be contacted at [email protected] or 213-891-5095

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