Secured Transactions Practice: Security Agreements to Foreclosures, Part 2

Friday September 22, 2017

Secured transactions – taking a security interest in collateral in exchange for a loan of money– are the most common form of commercial transaction and help finance most businesses in the United States.  Because of their scale and importance, immense attention is paid to and often enormous pressure placed on every minute detail of secured transactions – from financing statements, security agreements and perfection to seizure and sale of property on foreclosure.  These secured transactions are governed by the UCC Article 9, which can make them more costly, difficult to draft, and introduce risks into enforcement and foreclosures.  Failure to comply with UCC Article 9 in drafting security agreements, perfecting a creditor’s interest, or on the foreclosure of a lien can easily cause the value of the transaction to be lost.  This program will provide you with a real-world guide to drafting the most important components of a security agreement, perfecting the interest, and cost-effective enforcement of liens.

Handout Materials Will be Emailed to You Prior to the Seminar

Starts 12:00 p.m.
1.0 MCLE Credit Hours

  • Legal and practical framework for the foreclosure of personal property under UCC Article 9
  • Foreclosing on equipment, inventory, intellectual property, accounts receivable, and other asset classes
  • Duties of junior creditors to senior creditors on foreclosure
  • Rights to proceeds of foreclosure sales and reducing foreclosure costs
  • Rights of guarantors
  • Debtor remedies in the event of a secured party default
  • Cost-efficient alternatives to foreclosures and circumstances when these alternatives are available


Steven O. Weise, Proskauer Rose, LLP – Los Angeles