A secured party’s ongoing perfection is not guaranteed after the filing of a financing statement. A number of events can occur post-closing that can threaten perfection or priority unless the secured party takes immediate action within strict deadlines, even if
UCC EXPERT’S CORNER: Debtor’s Ongoing Use Did Not Make Former Name Sufficient for Financing Statement
By Paul Hodnefield, Esq. Secured parties are generally solely responsible for providing the correct debtor name when filing a UCC financing statement. Failure to conduct thorough debtor name due diligence may inadvertently lead to filing under an incorrect debtor name,