Experts Corner
MICHAEL L. WEISSMAN is of counsel to the Chicago law firm of Levin & Ginsburg and formerly served as Executive Vice President and General Counsel of Bridgeview Bank Group. His practice is devoted to financial and business transactions including the structuring of a wide variety of financing transactions. Mike has also actively prosecuted civil and bankruptcy matters on behalf of financial institutions and defended them in lender liability lawsuits. More...
PAUL HODNEFIELD is Associate General Counsel for Corporation Service Company (CSC). Mr. Hodnefield is an attorney licensed to practice in Minnesota and member of the ABA and Minnesota Bar Association. Prior to joining CSC, he was President of US Corporate Services, a national UCC service provider. More...
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July 2010
“All for One and One for All…” Unless the Financing Statement Lapses

Article 9 does not limit the number of secured party names that a filer can provide on one financing statement. Using a single financing statement to perfect the security interests of two or more secured parties is a common practice that has advantages, including ensuring all the secured parties enjoy equal priority. A financing statement can also be freely amended to add or delete secured parties with no impact on perfection or priority.

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Recent Articles
7/1/2010 - “All for One and One for All…” Unless the Financing Statement Lapses
6/1/2010 - Credit Agreement Statute Not Applicable to Oral Agreement between Two Lenders to the Same Borrower
5/1/2010 - Failure to File Debtor Name Amendment Leaves Lender Partially Unperfected
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