Should consignors perfect their security interest by filing a financing statement?

Written by Chris Altenbach
Date March 2019

The debtor, a distributor of bulk petroleum products, entered into a consignment agreement with IPC. Under the agreement, IPC delivered fuel to the debtor–consignee (“Pettit”) for sale to consignee’s customers. Pettit filed for bankruptcy. At the time of the filing of bankruptcy, Pettit had had some of the consignor’s unsold fuel on hand, as well as proceeds from sold fuel (cash and accounts receivables—that is balances owed by customers that had not yet been paid) and which had not yet been remitted to the consignor.

 

Manage Exception Lists Faster, Easier

Written by Marina Hardy
Date March 2019

Understanding and managing the status of the motor vehicle liens’ portfolio can be challenging. Often times, inconsistencies or issues end up on the “Exceptions List”, that is then addressed manually by following up with the borrower, calling DMV, searching and pulling reports from multiple jurisdictions and places. Time is money, and too much of it is often wasted on this manual, tedious work. In addition, different DMVs and jurisdictions have varying levels of requirements’ complexity. With all of these variables, exceptions create a long road to perfection.

 

Delivering speed and visibility to captive finance companies

Written by Marina Hardy
Date March 2019

With a rich, 50-year history of manufacturing tractors, Kubota relies on its network of over 1,100 dealerships to deliver tractors to farmers all over the U.S. As their customers depend on Kubota to get the job done, so Kubota depends on its dealers to properly complete customer transactions and secure liens. When transactions are happening […]

 

Enabling Digital Transformation in Banking Back End Systems

Written by Marina Hardy
Date February 2019

In the face of the digital transformation, banks and credit unions face many challenges and constraints.

 

What to Watch for When Filing In-house, Part 2

Written by Marina Hardy
Date February 2019

When we left off in our last post, we had described two cases of UCC filings where the name of the debtor did not match with the legally accepted form of the name. The situation applied to both a company name and an individual person’s name. In the case of Ronald Markt Nay v. Leaf Capital Funding, LLC (U.S. Bankruptcy Court for the Southern District of Indiana), it was a matter of following the code.

 

Lien Solutions visits answers a beacon from The Lighthouse

Written by Lien Solutions
Date January 2019
In News

Throughout October and November, 2018, Wolters Kluwer’s Lien Solutions employees visited The Lighthouse of Houston to provide help to the center and spend time with the people it serves.

 

What to Watch for When You’re Filing In-house, Part I

Written by Marina Hardy
Date January 2019

The modern financial landscape is growing increasingly more complex due to internal corporate pressures and external regulatory changes. In terms of secured lending processes, filing Uniform Commercial Code (UCC) forms correctly and in a timely manner is critical, yet full of complexity. Furthermore, monitoring the health of your liens and continuing your liens, if warranted, is equally important. This blog series will look at some of the things that cannot be missed if one is to securely file and manage UCCs, whether you file directly through a Secretary of State or use a law firm or other partner to file.

 

3 Rules to Building Strong Customer Partnerships

Written by Marina Hardy
Date December 2018

What does it take to create a long-term, successful business partnership with your customers? The kind of partnership that survives economic ups and downs and continues delivering benefits over many years, or even decades?

 

Proactive Risk Management More Important than Ever for Ag Lending Industry

Written by Marina Hardy
Date October 2018

It’s well established that America is one of the world’s primary breadbaskets.  U.S. farmers’ agricultural output outstrips all others. But American farmers prolific output has, at times, actually hurt them, rather than helped.

 

Lending in the Agriculture Sector: What Lies Ahead?

Written by Marina Hardy
Date September 2018

We recently had the opportunity to attend a large agriculture finance conference focused on risk in that sector. This year, the discussion centered on the weather, the global economy, and politics: risks that affect pricing of crops, loan health and the credit landscape.