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About the Teleseminar
Foreclosing fixtures and other property under UCC Article 9 can be a time consuming, complicated, contentious and expensive process. Creditors can lose substantial value during the process with debtors fighting the foreclosure and either senior or junior creditors slowing or compromising the process. This highlights the need for effective planning and drafting during the lien process in anticipation of the foreclosure and sale of property. Effective imposition of liens and planning the foreclosure process can save a creditor’s claim and preserve value. This program will provide you with a practical guide to effective imposition of liens, increasing their enforceability, drafting in anticipation of default and foreclosure, and cost saving techniques for foreclosures and sales.
- Best practices for imposing liens on fixtures and other personal property under UCC Article 9
- Drafting tips to aid enforceability and contain foreclosure costs
- Legal and practical framework for foreclosing fixtures, equipment, inventory and other personal property
- Essential elements of foreclosure process, including notice and seizure
- Online sales and retention of collateral to satisfy debt
- Rights of junior v. senior creditors and rights of debtor to redeem
About the Speaker
Steven O. Weise is a partner in the Los Angeles office Proskauer Rose, LLP, where his practice encompasses all areas of commercial law. He has extensive experience in financings, particularly those secured by personal property. He also handles matters involving real property anti-deficiency laws, workouts, guarantees, sales of goods, letters of credit, commercial paper and checks, and investment securities. Mr. Weise formerly served as chair of the ABA Business Law Section. He has also served as a member of the Permanent Editorial Board of the UCC and as an Advisor to the UCC Code Article 9 Drafting Committee. Mr. Weise received his B.A. from Yale University and his J.D. from the University of California, Berkeley, Boalt Hall School of Law.
Mandatory MCLE Credit Hours
This seminar qualifies for 1.0 MCLE Credit Hour