JOINT MEETING OF THE SECURED LENDING SUBCOMMITTEE OF THE COMMERCIAL FINANCE COMMITTEE AND THE SECURED TRANSACTIONS SUBCOMMITTEE OF THE UCC COMMITTEE
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, on Sunday, August 2. 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 LLP and Richard Brown of Winston & Strawn LLP) 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 as well as even more convoluted hypothetical cases involving such things as DVDs, teapots, diamonds, bridesmaids? dresses, artwork and a hot briquette iron. The program materials are posted on the subcommittee website.
For more fun with the UCC, check out this summary of the In re A.F. Evans Company included as part of this joint Secured Lending and Secured Transactions Subcommittee update. This case reminds us that determining whether a financing statement has really been terminated can be complicated business.
Please note that Janet Nadile, Cravath, Swaine & Moore LLP has joined Tom Plank as Co-Vice Chair of the Secured Transactions Subcommittee and that Wansun Song of Milbank, Tweed, Hadley & McCloy, LLP and Heather Sonenberg of Blank Rome LLP are the new chair and vice chair, respectively, of the Secured Lending Subcommittee of the ComFin Committee.
Please join us at the Fall Meeting of the Business Law Section in Washington, D.C. on November 20-21 for more fun with secured transactions! Please let us know if you have any suggestions for programs or projects. We look forward to seeing you there.
