Secured Credit Committee


Post date: Monday, May 24, 2021
Photo of T. Randall Wright
T. Randall Wright

Secured creditors whose collateral includes its borrowers’ accounts are empowered by Article 9 to collect money that is owed to borrowers from their borrowers’ account debtors, by a simple notice process. The secured creditor can notify account debtors of the security interest and advise them that they should pay the secured creditor directly, instead of paying the borrower.

Post date: Thursday, February 25, 2021

In this time of COVID-19, creditors and debtors alike have looked for ways to address the financial squeeze the pandemic has imposed on the global economy. On the one hand, debtors are likely to look for more time for their business operations to return to “normal.” On the other hand, creditors are likely to look for certainty of results in an otherwise uncertain time.

Post date: Thursday, February 25, 2021
Photo of Louis T. DeLucia
Louis T. DeLucia

It may seem counterintuitive for banks and other lenders to provide loans to companies in bankruptcy, but they often do. All companies, especially those in bankruptcy, need liquidity to continue operating. Ensuring the availability of cash is one of the most important considerations in a chapter 11 reorganization, because debtors are often unable to reorganize without adequate cash flow.

Post date: Thursday, January 14, 2021

This year has been like no other. With the rest of the world, ABI’s Secured Credit Committee was jilted by the speed at which our in-person conferences and activities came to a halt. At the same time, we marveled at how efficiently the Annual Spring Meeting was retooled for virtual happy hours, networking opportunities and webinars that have lasted through these trying months.

Post date: Wednesday, July 01, 2020

Throughout 2019, the retail industry continued to struggle as numerous retailers — from a variety of product and apparel categories — sought bankruptcy relief. Further, many retailers entered chapter 11 with an intent to liquidate all, or substantially all, of their assets quickly and efficiently.

Post date: Wednesday, July 01, 2020
Photo of  John C. Cannizzaro
John C. Cannizzaro

When asked whether a foreclosure sale can be avoided in bankruptcy, the first answer that comes to many practitioners’ minds is “no” because of the Supreme Court’s opinion in BFP v. Resolution Trust Corp.[1] The correct answer, though, is a much more nuanced “it depends.” The Third Circuit’s Sept.

Post date: Tuesday, September 03, 2019

Secured creditors should file UCC-1 financing statements. A proper UCC-1 must list both the name of the debtor and a description of the collateral. In a recent case before the First Circuit, both components in initial financing statements were insufficient to perfect the secured creditors’ interests.

Post date: Tuesday, September 03, 2019

In an insolvency situation, a lender’s strategy is very dependent upon the nature and extent of its collateral. Nothing can be more frustrating to a lender than believing it is in a senior position, only to find out that it has been primed. While a standard UCC Article 9 search will discover most liens and security interests, certain liens and interests require enhanced diligence.

Post date: Tuesday, September 03, 2019

“First in time, first in right,” is one of the first things taught in a law school’s secured transactions class. Yet a recent ruling from the U.S.

Post date: Monday, September 24, 2018

Good-faith efforts can create good outcomes. A can cause B. The absence of B, however, does not necessarily mean that A was absent: Bad results can occur even with good-faith efforts.


Ms. Andrea Chase, Esq.
Spencer Fane LLP
Kansas City, MO
(816) 292-8279

Mr. James K. Donaldson
Woods Rogers Vandeventer Black
Richmond, VA
(804) 343-5028

Ms. Alexandria G. Lattner
Communications Manager
Sheppard, Mullin, Richter & Hampton LLP
Costa Mesa, CA
(714) 513-5100

Mr. Eric W. Anderson
Education Director
Parker, Hudson, Rainer & Dobbs LLP
Atlanta, GA
(404) 420-4331

Mr. Ian Rubenstrunk
Education Director
Spencer Fane
Minneapolis, MN
(952) 563-6881

Ms. Shirley Palumbo, Esq.
Membership Relations Director
NextEra Energy Resources
Juno Beach, FL
(561) 310-5028

Ms. Kelli S. Norfleet, Esq.
Newsletter Editor
Haynes and Boone, LLP
Houston, TX
(713) 547-2630

Mr. Evan B. Blum
Special Projects Leader
Woodbridge, NJ
(732) 750-0900

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