Creating a Blanket Lien – A New Case Shows the Importance of Syntax
How should collateral be described in a “blanket” security agreement? The goal is to include all of the debtor’s personal property. But using the term “all assets” or a similar phrase in a collateral description can be either a disaster; or a lifesaver for lenders and their counsel. Matter of Sterling United, Inc., 2016 WL 7436608 (2d […]
Alternative A v. Alternative B – Can the Imperfect Attain Perfection?
California’s current legislative session has just gotten under way, and coming soon will be a bill to amend Article 9 of the Uniform Commercial Code, which governs security interests in personal property. This package of amendments was promulgated by the Uniform Law Commission (ULC) in 2010. For the most part it consists of technical fine-tuning, with one […]
