State and federal laws provide numerous protections to secured parties to preserve their interests in collateral. As secured parties well know, however, these protections become more and more limited when the collateral is pledged to multiple secured parties. Issues, like priority of interests and liens, become more prevalent when the collateral at issue falls in value and multiple secured parties are fighting to enforce their interests in order to satisfy their debts.

State and federal laws provide numerous protections to secured parties to preserve their interests in collateral.  As secured parties well know, however, these protections become more and more limited when the collateral is pledged to multiple secured parties.  Issues, like priority of interests and liens, become more prevalent when the collateral at issue falls in value and multiple secured parties are fighting to enforce their interests in order to satisfy their debts.

As predicted at the Commercial Finance Association’s Fourth Annual Energy Summit on September 16th, we should start seeing more and more oil & gas companies struggle to survive in the wake of continued low commodity pricing.  While we witnessed some rebound in pricing towards the end of the summer, the price of oil again dipped to under $50 a barrel in September and the price of gas continues near historic lows, at just under $3.00 MMBtu.  As Philip Cook, the Chief Financ

The retail industry appears to be reaching the crossroads of complete transformation due to a significant shift in consumer sentiment.  Those companies that can embrace the change quickly enough will likely survive.  Those that cannot may simply become legends.  Indeed, we have seen well-known companies such as RadioShack, Brookstone,

With oil prices having fallen more than 50% from June 2014 to January 2015, most pundits expect more companies in the oil & gas (O&G) industry will face significant financial distress in 2015, forcing many to either consolidate or file for bankruptcy.

The Illinois Supreme Court recently provided certainty to dissolving corporations with respect to the risk of facing a lawsuit even after it has long since dissolved. Illinois permits lawsuits against dissolved corporations for up to five years after the corporation has ceased to exist. The Supreme Court clarified that only those claims that have accrued prior to the corporation's dissolution (i.e., the injury occurred prior to dissolution) may be brought in that five-year period.