Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Attachment and Perfection of Security Interests

By Thomas V. Askounis, Debra Devassy Babu and Allison E. Kahrnoff
September 24, 2013

While most secured parties focus their energies on negotiating and drafting contract documents, they must also pay careful attention to ensure that security interests properly attach and are perfected, as slight errors can have devastating consequences on security interests. Because security agreements and UCC financing statements are routinely prepared as a matter of course, the potential for drafting errors exists. This article addresses common attachment and perfection problems raised in recent cases, and provides suggestions on how secured parties can avoid these pitfalls.

Problem: The Security Interest Fails to Attach, Due to a Typo in the Security Agreement

Read These Next
The DOJ's Corporate Enforcement Policy: One Year Later Image

The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.

Use of Deferred Prosecution Agreements In White Collar Investigations Image

This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.

The DOJ's New Parameters for Evaluating Corporate Compliance Programs Image

The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.

CLE Shouldn't Be the Only Mandatory Training for Attorneys Image

Each stage of an attorney's career offers opportunities for a curriculum that addresses both the individual's and the firm's need to drive success.

A defendant in a patent infringement suit may, during discovery and prior to a <i>Markman</i> hearing, compel the plaintiff to produce claim charts, claim constructions, and element-by-element infringement analyses.