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Secured Credit Committee


Post date: Tuesday, September 03, 2019

Secured creditors should file UCC-1 financing statements. A proper UCC-1 must list both the name of the debtor and a description of the collateral. In a recent case before the First Circuit, both components in initial financing statements were insufficient to perfect the secured creditors’ interests.

Post date: Tuesday, September 03, 2019

In an insolvency situation, a lender’s strategy is very dependent upon the nature and extent of its collateral. Nothing can be more frustrating to a lender than believing it is in a senior position, only to find out that it has been primed. While a standard UCC Article 9 search will discover most liens and security interests, certain liens and interests require enhanced diligence.

Post date: Tuesday, September 03, 2019

“First in time, first in right,” is one of the first things taught in a law school’s secured transactions class. Yet a recent ruling from the U.S.

Post date: Monday, September 24, 2018

Good-faith efforts can create good outcomes. A can cause B. The absence of B, however, does not necessarily mean that A was absent: Bad results can occur even with good-faith efforts.

Post date: Thursday, July 12, 2018

May chapter 13 plans prioritize payments to debtors’ attorneys over secured creditors? Bankruptcy courts are divided, and two recent decisions have widened the gap.

Post date: Tuesday, April 24, 2018

Circuits are split on the issue of whether bankruptcy courts can confirm plans containing non-consensual third-party releases. Historically, the split involved the application of Bankruptcy Code § 105 or 524. Recently, however, a few secured creditors have relied on Stern v.

Post date: Saturday, February 03, 2018

The opinion issued by the U.S. Court of Appeals for the Ninth Circuit in DZ Bank Ag Deutsche Zentral-Genossenschaftbank, Frankfurt Am Main v. Meyer[1] is noteworthy to secured creditors in the context of the extent of the judgment to which they may be entitled as a consequence of the commission of actual fraud.

Post date: Saturday, February 03, 2018

[1]A new business entity formed today more likely than not will be formed as a limited liability company (LLC).

Post date: Wednesday, July 12, 2017

Following a chapter 11 case, lenders face significant risks associated with debtor-in-possession (DIP) loans or cash-collateral orders that provide for automatically perfected liens encumbering a debtor’s assets.

Post date: Wednesday, July 12, 2017

Suppliers of goods to ocean-going vessels can face considerable counterparty risk, as the vessels that they supply may never return to the same port.


Sat, 2017-12-02

Hosted by the Secured Credit and Unsecured Trade Creditors Committees. Unsecured trade creditors and secured creditors confront similar plan analysis issues, including gerrymandering, vote incentivization schemes, drop dead provisions, and golden shares. The panel will discuss some of those “creative” plan provisions and interesting confirmation issues that impact both secured and unsecured creditors.

Fri, 2017-04-21

This panel hosted by the Commercial Fraud and Secured Credit Committees will take a fresh look at secured creditor rights and unique solvency issues in fraud and Ponzi cases. Learn how to avoid being trumped in federal forfeiture proceedings or paying on bankruptcy clawback claims by treading in the safe harbor of § 546(e) — and learn how to navigate the shoals of receivership.

Thu, 2017-02-02

This program will provide an introduction to the most common types of intercreditor and subordination agreements involved in transactions today and will highlight drafting considerations and points of negotiation involved in each. Additionally, the panelists will provide an overview of important bankruptcy court decisions involving the interpretation and enforceability of intercreditor agreements and subordination agreements and will provide insight about how intercreditor and subordination agreements have changed (or should change) in response.

Fri, 2016-04-15

Legal and Practical Issues Involving Secured Creditors and the Retention of Financial Advisors.

Fri, 2015-04-17

Secured Credit Under the Code and Commission Report

Wed, 2014-11-12

The Asset Sales Committee hosted their most recent committee call on Wednesday, November 12. This call was titled "Bankruptcy Reform Commission’s Consideration of a Proposal to Surcharge Secured Lenders for 363 Asset Sales," and worked to more broadly inform and engage bankruptcy and restructuring professionals about the proposal being considered by the Bankruptcy Reform Commission to assess a charge on secured lenders for 363 asset sales in Chapter 11.

Mr. John T. Farnum, Esq.
Miles & Stockbridge PC
Washington, MD
(202) 737-9600

Mr. Eric L. Johnson
Spencer Fane LLP
Kansas City, MO
(816) 292-8267

Mr. Ian Rubenstrunk
Communications Manager
Winthrop & Weinstine, P.A.
Minneapolis, MN
(612) 604-6763

Ms. Michelle M. Masoner
Education Director
Bryan Cave Leighton Paisner LLP
Kansas City, MO

Ms. Alyson M. Fiedler, Esq.
Newsletter Editor
Ice Miller LLC
New York, NY
(212) 835-6315

Mr. James K. Donaldson
Special Projects Leader
Vandeventer Black LLP
Richmond, VA
(804) 237-8800

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