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OnDemand Course

Finding Your Way Through the UCC3 Financing Fog

Gain an understanding of the filings under UCC Article 9 and how to fix and avoid mistakes in the future.

You will obtain an understanding of the nuts and bolts of filings under UCC Article 9, how to file properly, and how proper filings perfect (and continue perfection of) security interests in collateral and protect the interests of the filing party. Unfortunately, mistakes are often made, sometimes with significant consequences. You will learn about the effects of improper or missed filings, whether or not intended, and how to avoid or correct mistakes.

68 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

The GM/JPMorgan Case

  • Underlying Facts
  • Procedural History
  • Bankruptcy Court Decision
  • Delaware Supreme Court Decision
  • 2d Circuit Decision

Amendments

  • Collateral Description
  • Name Changes
  • Address Changes
  • Adding and Deleting Parties

Assignments

  • UCC 9-514 Considerations
  • Effect of Not Filing an Assignment
  • Practical Considerations
  • Trafficking in Financing Statements

Continuations

  • Initial Five-Year Period
  • Effect of Lapse
  • Time Limitations
  • Successive Continuation Statements
  • Content Requirements
  • Mortgages

Terminations

  • UCC 9-513 Considerations
  • Obligation to Deliver Termination
  • Effect of Termination

Pitfalls and Case Studies

  • Unauthorized Terminations
  • Correction Statement
  • Lapse
  • Misleading Financing Statement
  • Assignments
  • Continuation Following a Name Change
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on June 14, 2023.

Call 1-866-352-9540 for further credit information.

  • AR CLE 1.0
     
  • This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.0
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.0
     
  • Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
     
  • GA CLE 1.0
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
     
  • HI CLE 1.0
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
     
  • IL CLE 1.0
     
  • This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
     
  • MO CLE 1.0
     
  • This course qualifies for self-study CLE credit in Missouri.
     
  • NH MCLE 1.3
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 68 Minutes.
     
  • NJ CLE 1.1
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.1 hours of total CLE credit.
     
  • NY CLE 1.0 including Areas of Professional Practice 1
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Education- Noggin Guru, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • RI CLE 1.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
     
  • VT CLE 1.0
     
  • This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
     
  • WI CLE 1.25
     
  • This program qualifies for 1.25 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
     
  • WV MCLE 1.3
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York. Other states do not need to supply the CLE Code to apply for CLE credit.

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

R. Marshall Grodner, Esq.

R. Marshall Grodner, Esq.

McGlinchey Stafford, PLLC

  • Member in the firm’s Baton Rouge office
  • Practice focuses primarily in commercial transactions, secured transactions, commercial finance, opinion letters, commercial real estate, and gaming law
  • Served as an adjunct professor at the Louisiana State University Law Center
  • Has authored or co-authored several articles in law reviews and other publications dealing with secured transactions, commercial real estate, and other business law issues
  • Has delivered lectures and papers throughout the country dealing with loan documentation, secured transactions, ethics and professionalism in the transactional context and real estate law
  • Martindale-Hubbell™ AV Preeminent ® Peer Review Rated Lawyer, The Best Lawyers in America ® (Commercial Transactions/UCC Law, Equipment Finance Law 2007–2023), Best Lawyers Baton Rouge Commercial Transactions/UCC Law Practice Lawyer of the Year (2022), Louisiana Super Lawyers (Business/Corporate, Real Estate), Selected in 2013 as a Top Rated Lawyer in banking and finance by American Lawyer Media and Martindale-Hubbell™
  • J.D. degree, Louisiana State University; B.A. degree, Louisiana State University
  • Can be contacted at [email protected] or 225-382-3651
James C. Schulwolf

James C. Schulwolf

Shipman & Goodwin LLP

  • Partner at Shipman & Goodwin LLP
  • Represents senior and mezzanine lenders, institutional investors, venture capital investors (including SBICs), private equity funds, hedge funds, emerging growth companies, and private companies in financing, investment, leasing, acquisition, corporate, licensing, and restructuring transactions
  • Regularly advises clients with respect to structuring, negotiating, and closing complex transactions, also regularly advises clients with respect to distressed investments and the restructuring of existing investments and loans
  • Experience includes the representation of senior lenders in complex commercial, asset-based, and acquisition financings; mezzanine lenders and hedge funds; SBICs and venture capital funds; emerging growth companies; hedge fund, buyers, sellers, and sponsors; and institutional investors in direct investments, fund of funds investments, and investments in private equity funds
  • Recognized authority on drafting and negotiating intercreditor and subordination agreements on behalf of senior and subordinate lenders and wrote Controlling Your Destiny-Key Issues in Subordination and Intercreditor Agreements, The Secured Lender; he also deals extensively with family-owned businesses and wrote Financing the Family-Owned Business, The Secured Lender
  • Lectures frequently on issues relating to commercial and real estate lending, intercreditor issues, venture finance, and venture capital investment
  • Achieved the highest rating in the Martindale-Hubbell Law Directory; listed as a Connecticut Super Lawyer® in business/corporate (2006 to 2015) and banking, mergers & acquisitions (2006 to 2009); listed in The Best Lawyers in America® in banking and finance law, equipment finance law (2005 to 2016); named Lawyer of the Year, Best Lawyers’ 2014 Hartford Region banking and finance law; chair (2010 to 2013), Commercial Finance Committee, American Bar Association, Section of Business Law; fellow (1998 to present) and member of the Board of Regents (2005 to 2009), American College of Commercial Finance Lawyers; and Connecticut Bar Foundation James W. Cooper Fellow
  • J.D. degree, New York University School of Law; B.A. degree, cum laude, Amherst College
Jeffrey A. Wurst, Esq.

Jeffrey A. Wurst, Esq.

Armstrong Teasdale

  • More than 30 years of experience handling significant commercial finance and bankruptcy matters
  • Esteemed fellow of the American College of Commercial Finance Lawyers and panelist on the American Arbitration Association’s National Roster of Arbitrators
  • In-depth experience representing both lenders and borrowers in litigation arising from transactions, and is often called upon to handle interlender disputes
  • Represented both agents and co-lenders in syndicate-related disputes
  • Litigation experience includes the successful defense of major money center banks in venues across the country related to lender liability, lien priority disputes, fraudulent conveyance, and similar actions
  • The ABF Journal, Secured Finance Network, Turnaround Management Association, and other industry-leading publications turn to Jeff for critical insights and articles
  • An established writer and blogger, his Wurst Case Scenario, the commercial finance law newsletter, has thousands of followers
  • Frequent lecturer on topics concerning lenders and entrepreneurs
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • OnDemand Courses
  • Live Webinars
  • MP3 Downloads
  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 410689
Published 2023
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