Treatment of Secured Claims for the Creditors Rights Attorney

Legal Learning Webinar

Friday, March 31, 2023
1:00 PM - 2:00 PM (EDT)
Category: Webinars

Join subject matter experts John Sperati and Landon Van Winkle of Smith Debnam Narron Drake Saintsing & Myers, LLP in the second episode in our Bankruptcy for the Creditors Rights Attorney Education Series. This episode features a detailed discussion of how common types of secured claims (such as mortgages, auto loans, and loans secured by equipment or other personal property such to perfection by filing a UCC-1) are treated in bankruptcy.

The episode starts with the general rule that liens pass through bankruptcy unaffected, and then discusses the various methods by which liens can be avoided entirely (such as through§ 544 actions and motions under § 522(f)) or modified based on the value of the collateral (cram down under § 506(a)), as well as exceptions to these avoidance powers (such as the “hanging paragraph” of § 1325). This episode also discusses practical considerations for secured creditors to ensure their collateralized debts are well positioned to survive avoidance in bankruptcy, such as issues with perfection of security interests in motor vehicles and other ways in which the UCC can impact a creditor’s secured claim in bankruptcy.

CLE is pending for this webinar.

CLE Information

National Creditors Bar Association is a national provider of legal educational content. NCBA’s goal is to provide its members with as many opportunities as possible to earn Continuing Legal Education (CLE) credits. Some NCBA webinars state that they are pending approval. If a webinar is pending approval, it means that NCBA’s education staff is awaiting confirmation of approval for CLE credit from the accrediting body of a particular state; it should be noted that individual states have different response and approval rates. NCBA expects that the course will be approved for the credit amount and type listed, but approval is not guaranteed. An attorney can still take the course at their own discretion, though.

It is not uncommon for a course which is pending approval to not be approved until after the webinar has taken place. Once an official decision notice arrives from the state, NCBA will notify attorneys who have completed the course as soon as possible via email, and will re-issue any certificates of completion to reflect the updated state reporting numbers. However, it is recommended that attorneys do not view webinars that are pending approval close to their CLE deadline, as NCBA cannot guarantee that a course will be approved in time.

National Creditors Bar Association will seek MCLE accreditation, with the assistance of the ABA MCLE, for this webinar. NCBA will seek General CLE credit hours in 60-minute-hour states, and in 50-minute states, subject to each state’s approval and credit rounding rules. States typically decide whether a program qualifies for MCLE credit in their jurisdiction 4-8 weeks after the program application is submitted. For many live events, credit approval is not received prior to the program. A link for CLE requests will be provided to webinar attendees who have met the attendance and engagement requirements.