Well … a lot. But one that comes across our desks far too often is: “I didn’t realize you need to file a UCC financing statement to perfect an outright sale of accounts receivable.” So as to not bury the lede: you should always file a UCC financing statement to perfect the sale of accounts. Now there is an narrow exception and maybe in a particular transaction there may be an eyes-wide-open reason that someone would choose not to file, but Article 9 of the UCC is clear. So clear in fact that official comment 4 to UCC 9-309 simply says: “Any person who regularly takes assignments of any debtor’s accounts or payment intangibles should file.” I generally recommend staying on-sides with a statue’s drafters.
Continue Reading So, first up, what is easy that you can really mess up?
Welcome
This space is happily reserved for the discussion of securitization and the financing of financial assets. We have been at it a while and look to share some of the insights we have picked up along the way, as well as those we traverse every day.
Initially, we will not only provide quick takes on