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

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.

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