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Abstract: 

For a secured party, one of the most important aspects of a secured transaction is making sure that the lien granted on the collateral pledged to secure a debtor’s obligation is not only enforceable against the debtor, but also against other creditors of the debtor. This article provides guidance on the actions that need to be taken in order to maintain the attachment, perfection, and priority of a security interest in assets pledged by a debtor when the debtor changes its name, relocates its principal place of business or chief executive office, sells the assets that are subject to the liens, or merges into another entity and is itself not the surviving entity.

Keywords: UCC Article 9; collateral; attachment; perfection; priority; security interest; debtor name change; debtor location change; transfer of collateral; new debtor

Affiliations:  1: Sidley Austin LLP.