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The Secured Lending Subcommittee provides a forum for discussion of
legal issues related to security interests in personal property in a
variety of financing arrangements, from traditional asset-based loans
and factoring arrangements to securitizations and more exotic forms of
receivables sales and financings, whether under UCC Article 9, common
law, international conventions, or otherwise. The Subcommittee welcomes
discussion relating to collateral of all types.
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JOINT MEETING OF SECURED LENDING SUBCOMMITTEE AND SECURED TRANSACTIONS SUBCOMMITTEE
The Secured Lending Subcommittee of the Commercial Finance Committee met jointly with the Secured Transactions Subcommittee of the UCC Committee at the ABA 2009 Annual Meeting in Chicago. The meeting was well-attended, both in person and via teleconference. Jim and "the two Ricks" (James Prendergast of First American Title Insurance Company, Richard Goldfarb of Stoel Rives and Richard Brown of Winston & Strawn) led a lively discussion on the mysteries of consignments, sale or return, bailments, and other ways to mystify the bankruptcy trustee. The program was titled "Just-in-Time or Just Outside the UCC?" and the panelists and audience enjoyed discussing various intricate UCC cases and even more convoluted hypothetical cases involving such things as DVDs, teapots, diamonds, bridesmaids' dresses, artwork and hot briquetted iron. The program materials are posted on the subcommittee's website.
Please note that Wansun Song of Milbank Tweed and Heather Sonenberg of Blank Rome are the new chair and vice chair, respectively, of the Secured Lending Subcommittee of the ComFin Committee.
Please let us know if you have any suggestions for programs or projects.
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A Practical Guide to Software Licensing for Licensees and Licensors, Third Edition: Model Forms and Annotations Included in Print and CD-ROM
This new third edition is revised and updated with three new chapters and numerous forms. A Practical Guide to Software Licensing for Licensees an... more
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| | Committee Events |
2009 ABA Annual Meeting Subcommittee Meeting
August 2, 2009 | | The next joint meeting of the Secured Lending Subcommittee of the Commercial Finance Committee and the Secured Transactions Subcommittee of the UCC Committee will be held at the ABA 2009 Annual Meeting in Chicago, on Sunday, August 2 from 10:30 a.m. to 12:00 noon. [NOTE Changed Time!] We are looking forward to the program: Just-in-Time or Just Outside the UCC? The panel of experts will be chaired by James Prendergast of First American Title Insurance Company, with Richard Goldfarb of Stoel Rives and Richard Brown of Winston & Strawn. The panel will explore the mysteries of consignments, bailments and other title manipulation arrangements. What is the real nature of a consignment agreement between a supplier of raw materials and its manufacturing customer for just-in-time inventory supply? Or a consignment agreement between a manufacturer and its distributors? Are these agreements Article 9 secured transactions? Or Article 2 sales transactions? Or common law bailments? Or something else altogether? Can you still have a "true" consignment? Come and listen, or participate in, the sure-to-be-spirited discussion! Subcommittee Meeting Dial-In Numbers
Dial-In Available for Annual Meeting. We will have dial-in capability for the subcommittee meeting in Chicago (Sunday, August 2 from 10:30 a.m. to 12:00 noon). The dial-in information is below. Please join us by telephone if you can?t make it in person! North America (toll-free) 888 391 0104
Canada (toll call) +1 416 620 7071
Participant Passcode 1049826 |
2009 Business Law Section Spring Meeting
April 18, 2009 | The Secured Lending Subcommittee of the Commercial Finance Committee last met at the 2009 ABA Business Law Section Spring Meeting in Vancouver, jointly with the Secured Transactions Subcommittee of the UCC Committee, on Saturday, April 18, 2009 at 8:30 a.m.
We enjoyed a program titled Article 9: What's New (Revision Committee) and What's Hot (Remedies). The panel presentation (moderated by Ellen Friedman of Friedman Dumas & Springwater LLP) identified some potential liabilities involved in exercising Article 9 remedies, including risks lurking behind the Part 6 statutory provisions and the interplay between the tort of conversion and the exercise of Article 9 remedies. (Program materials are posted below.)
Professor Stephen Sepinuck of Gonzaga University School of Law presented a brief update on the work of the Joint Review Committee for Article 9 of the UCC. Professor Sepinuck is the ABA Advisor to the Article 9 Review Committee, and his reports are available on the UCC Committee website at http://www.abanet.org/dch/committee.cfm?com=CL710000. |
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