In the News

Darrell Pierce Authors Article for Practical Law Company on UCC-1 Financing Statements

Examines Whether Existing Statements Establish Priority for Future Loan Advances

March 14, 2013

Darrell W. Pierce—member, leader of the firm’s Structured Finance and Securitization practice and supervisor of Dykema’s UCC Filing Team—authored an article providing perspective on whether Uniform Commercial Code-1 (UCC-1) financing statements serve to establish priority for future loan advances. This article, themed “Expert Q&A on Priority Issues Relating to Existing UCC-1s,” was published in March 2013 by Practical Law Company.

In the article, Pierce explains the rule of priority (or “first-to-file-or-perfect” as expressed in Article 9 of the Uniform Commercial Code), outlines what it is designed to provide, and – using a hypothetical case – demonstrates how various factors can potentially limit or alter the application of the “first-to-file-or-perfect” rule.

To read this article in its entirety, click here