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Darrell W. Pierce
Member
Commercial Finance
Structured Finance and Securitizations
Corporate Finance
International Law
Consumer Financial Services
Debt Acquisition Counseling
Public Finance
Agribusiness
Bankruptcy and Restructuring

dpierce@dykema.com
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Ann Arbor, Michigan
734-214-7634

Chicago, Illinois
312-627-2175

Education
Dartmouth College, A.B.
  cum laude
University of Michigan, J.D.
  cum laude

Admitted to Practice
Illinois  1980
Michigan  2004

Darrell W. Pierce focuses his practice in the areas of commercial and corporate finance law. With offices in Chicago and Ann Arbor, he has earned a national reputation for handling sophisticated debt finance transactions, including structured finance transactions, securitization of financial assets and other significant secured transactions under Article 9 of the Uniform Commercial Code (UCC), including restructurings and workouts.  Mr. Pierce is co-leader of the firm's Lending Team and supervises its UCC Filing Team.
Mr. Pierce regularly represents lenders and their agents in connection with secured and unsecured loans, letters of credit and other bank products.  He is familiar with the requirements for security interests in a wide variety of collateral, including collateral located abroad, and has extensive experience representing lenders and borrowers in connection with troubled credits.  He works closely with Dykema bankruptcy attorneys to ensure a smooth transition and an appropriate outcome should a bankruptcy become necessary.  He also represents leasing companies and issuers in public-finance transactions.
This experience enables Mr. Pierce to provide effective and efficient representation to issuers of debt and other sophisticated borrowers.  As the leader of Dykema’s structured finance and securitization practice, he is able to provide the requisite advice and legal opinions to limit recourse, address bankruptcy risks and support the issuance of asset-backed securities.
Mr. Pierce served as member of the Article 9 Study Committee for the Permanent Editorial Board for the Uniform Commercial Code, as Chair of the Article 9 Filing Project and as the primary drafter of the International Association of Commercial Administrators’ Model Administrative Rules for Article 9 filing offices.  He is a frequent lecturer and writer regarding UCC matters.

Seminars and Speeches

  • What Lawyers Need to Know About UCC Article 9, each year since 2000, Practising Law Institute, New York, New York
  • Article 9 Updates, semi-annually each year since 2007, Lorman Educational Services
  • Revised Article 9 - Towards Perfection in Filing, 1999-2003, 2007, Uniform Commercial Code Institute, Chicago, Illinois
  • Revised Article 9 of the UCC, and Business Boot Camp, Security Agreements, Security Interests and Understanding Priorities, 2001, 2004 and 2006, Michigan Institute for Continuing Education, Troy, Michigan

Publications

  • "The Article 9 Filing System," Secured Transactions 2010: What Lawyers Need to Know About UCC Article 9, Practising Law Institute  (2010)
  • "Secured Transactions," Illinois Law and Agribusiness, Chapter 2, 2005 Supplement, Illinois Institute for Continuing Legal Education  (2005)
  • "Security Agreements, Perfecting Security Interests and Understanding Priorities," Chapter for Business Boot Camp Course Materials, Michigan Institute for Continuing Legal Education  (2004)
  • "A Practical Guide to the New UCC Filing System," Review of Banking & Financial Services, Vol.16 No.4 Standard & Poor's  (2000)
  • "Revised Article 9 of the Uniform Commercial Code: Filing System Improvements and Their Rationale," Uniform Commercial Code Law Journal, Vol.31 No.1  (1998)

Professional Associations

  • American Bar Association
  • Chicago Bar Association
  • Michigan State Bar Association
  • Practising Law Institute, Faculty Member

Civic and Cultural Involvements

  • Director and Board President, Ann Arbor Civic Theatre, 2005-

  • Director, Michigan Chamber Brass, 2004-2007

  • Ann Arbor Chamber of Commerce Public Policy Committee, 2003-2008

  • Den Leader and Pack Committee Member, Cub Scout Pack 12, Evanston, Illinois 1995-2000