Repossessions and Sale of Collateral

Presented by:
John McGarvey
The most substantial change from former Article 9 to Revised Article 9 of the Uniform Commercial Code is in the new Part 6 on default and enforcement. In this two-hour webinar, we will explore the primary issues faced by secured lenders in the process of enforcing their remedies on secured transactions and how the changes in Revised Article 9 affect those remedies.

WHAT?
Collateral is merely an alternative means of payment for a defaulted loan. Converting collateral to cash is full of pitfalls in both the repossession of the collateral and the process of disposition. This program covers the various remedies available to secured lenders and how to best use the remedies. This two-hour webinar provides:

• A thorough review of the changes in Revised Article 9 concerning default and enforcement.
• A detailed analysis of how to properly repossess and dispose of collateral.
• Information on "safe harbor" notices of sale.
• Suggestions on how to avoid penalties for failure to comply with the provisions of Revised Article 9.

WHY?
This program offers the information needed by secured lenders to assure compliance with the changes of Revised Article 9 of the Uniform Commercial Code. It further provides an examination of the various remedies available to secured lenders when enforcing their security interest. Participants will receive a detailed outline that can be used as a reference long after the program is completed.

PROGRAM CONTENT
This program covers not only the basic changes in Revised Article 9 of the Uniform Commercial Code but also the remedies given to, and obligations imposed on, secured lenders by the article. Topics include:

• Default.
• Debtors, Obligors and Guarantors.
• Collection and Enforcement by Secured Parties.
• Disposition of Collateral After Default.
• Notice of Disposition and Sale Procedures.
• Deficiency Judgments and the "Rebuttable Presumption" Rule.
• Penalties for Failure to Comply.

WHO?
The program is designed for secured lenders including loan officers, compliance officers, workout officers, collection officers and other personnel. The program is presented at the a basic level.

VIEW A 10 MINUTE SAMPLE
(requires Windows Media Player and IE).

About the speaker:  
John T. McGarvey is a shareholder and chairperson of the executive committee of Morgan & Pottinger, P.S.C. His practice concentrates in the representation of banks and other lenders in litigation, secured transactions and other matters under the Uniform Commercial Code. He is admitted to practice in all state and federal courts in Kentucky, the U.S. Courts of Appeals for the Sixth and Eleventh Circuits, and the Supreme Court of the United States. Mr. McGarvey is a member of the American Bar Association's Section of Business Law and the Committees on the Uniform Commercial Code, Commercial Financial Services and Banking Law; and the Subcommittees on Secured Transactions, Loan Workouts, and Banking and Commercial Litigation; he was a co-editor of the Association's newsletter on Banking and Commercial Litigation (1991-1993). He is also an official observer and participant on the National Conference of Commissioners on Uniform State Laws Drafting Committee for the Uniform Certificate of Title Act and a member of The Conference on Consumer Finance. He is a graduate of the University of Kentucky (1970) and its College of Law (1973).

Mr. McGarvey chaired Kentucky's drafting committee for Revised Article 9 and has been a member of Kentucky's Special Study Commission on the Uniform Commercial Code, sponsored by the Legislative Research Commission, during prior UCC drafting and implementation efforts. He is an adjunct professor at the University of Kentucky College of Law teaching secured transactions. He has taught hundreds of seminars on legal issues affecting financial institutions and credit extenders for organizations such as the Banking Law Institute, Lorman Education Services, National Association of Retail Credit Attorneys, Pegasus Education Services, Practicing Law Institute, Professional Bank Services, Texas Bankers Association, and various other continuing banking and legal education organizations in locations from Boston to Los Angeles.

• Complete presentation
  (including slides and audio)
• Written Materials
• Follow-up Q & A

You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

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