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John Loughnane Pens Article on UCC Continuation Statements in Bankruptcy in the Norton Journal of Bankruptcy Law and Practice

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John Loughnane, a partner in Nutter’s Corporate and Transactions Department, wrote an article for the Norton Journal of Bankruptcy Law and Practice, Volume 28, Issue 6, titled “Freeze or No Freeze: UCC Continuation Statements in Bankruptcy.” In his piece, John noted although the freeze rule may have continuing viability, the best practice for a secured party faced with the expiration of a financing statement during the post-petition period is simply to file a continuation statement. In addition, John noted, to avoid any risk that the freeze rule will not apply, secured parties should be watchful of lapse dates in their financing documents and file continuation statements as and when needed without regard to an intervening bankruptcy case.

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