Preparation of UCC-3 termination statements may be thought of as ministerial work best left to paralegals or administrative staff. After long days and nights of negotiating and documenting a financing
UCC-3 Termination Statements
In a recent case, two large law firms and a major corporation failed to scrutinize a UCC-3 termination statement and may have inadvertently allowed $1.5 billion in indebtedness to become unsecured.
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