Carlson Dash Digest - May 2015 - Borrower Insurance

We are finally starting to see Spring weather here and that means growth. In that spirit, our Carlson Dash team wants to acknowledge our four year anniversary as a firm and to celebrate our expansion over the past year. We have added valuable legal talent to our team; talent that comes with diverse knowledge, legal perspective and practical experience that will enable us to better service our valued clients.

Listen In: IMN’s Real Estate & Bank General Counsel Forum (Midwest)

Earlier this month, Kurt Carlson participated in IMN’s Real Estate & Bank General Counsel Forum (Midwest) which was held in Chicago. If you missed the conference you can still catch the discussion. Kurt served as moderator on the Litigation Management panel and provided insight on the Best Practices for Managing In-House Lawyers and Outside Counsel panel. Follow the links to listen in and if you have any questions feel free to reach out to Kurt.

Lenders: Why Borrower Insurance Is Your Safety Net

Last month, we discussed how “all assets” UCC financing statements are not always a solution to perfecting a lender’s security interest in a borrower’s assets. This month we discuss insurance policies and proceeds. Lenders can use insurance policies as a way to perfect a lien in a borrower’s personal property interests. Though the usage of an insurance policy is commonplace, there are additional advantages of insuring that both lenders and borrowers should be aware of. Get to know more about how adding an insurance policy can safeguard your company’s priority interests.

Clerical Error Equals Big Loss For JP Morgan

The devil is in the details! JP Morgan learned this valuable lesson recently when it lost its appeal against General Motors Corp. related to a clerical error made during the refinancing of a $300 million loan. The ruling means that General Motors Corp. is entitled to $1.5 billion due to the clerical error that mistakenly terminated the security interest on a $1.5 billion loan. Learn more about this unfortunate error. Also, review a recent Carlson Dash article discussing how to avoid other errors when perfecting certain security interests.