Originally Aired March 16, 2010. Filing a financing statement is not the end of the security interest perfection process. Events sometimes occur after closing that, without prompt action, will leave the secured party unperfected or with subordinate priority. This presentation explains what events can jeopardize the secured party’s perfection or priority and what actions the secured party can take to retain its status.
Outline
1) Introduction and Overview of Amendment Process
2) Events that Require Amendments
- Debtor Changes
- Changes in Governing Law
- Transfer of Collateral
- Secured Party Changes
3) Time Frames
4) Best Practices
- Tracking Debtor & Collateral Changes
- Filing Amendments
5) Q&A
Presenter: Paul Hodnefield, Associate General Counsel, Corporation Service Company