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)
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.
CARLSON DASH, LLC
Carlson Dash. May 2015 Issue.
216 S. Jefferson StreetSuite 504Chicago, IL 60661312.382.1600WISCONSIN10411 Corporate DriveSuite 100Pleasant Prairie, WI 53158