Securities
Aug. 5, 2005
Supergeneric Descriptions of Debtor's Holdings Won't Do
Focus Column - Buisness Law By Leonard M. Shulman and James R. Sechrist - Routinely in a commercial lending context, one hears the phrase "the bank has a blanket security interest and thus holds a lien against all of the debtor's assets." But is that true in the context of a chose in action or litigation claim under Revised Article 9? How specific must the bank's security agreement or financing statement be in order to perfect a security properly in a litigation claim or chose in action?
Focus Column
Buisness Law
By Leonard M. Shulman and James R. Sechrist
Routinely in...
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