In commercial lending, a deal is only as strong as its documentation. A loan agreement with incomplete collateral descriptions, a financing statement filed under the wrong debtor name, or a missing deposit account control agreement can unravel years of careful relationship-building between a lender and its client. For Minnesota banks and financial institutions, David Lutz […]
Introduction If you are a bank, credit union, or private lender operating in Minnesota, your ability to recover collateral when a borrower defaults depends almost entirely on one thing: whether your security interest is properly perfected under UCC Article 9. Yet time and again, lenders lose their priority position — and their collateral —
When businesses, financial institutions, and individuals in Minnesota face complex legal challenges, experience and practical judgment matter. David A. Lutz, founder of Lutz Law Firm in Minneapolis, has built a reputation as a trusted commercial attorney with over 25 years of experience delivering strategic, results-driven legal solutions. A Strong Foundation in Law and Business David
David Lutz Minnesota: Trusted Commercial Attorney with 25+ Years of Experience Read More »
Community banks and credit unions face an increasingly complex legal landscape when managing problem loans and borrower relationships. While lenders maintain legitimate rights to protect their collateral and enforce loan agreements, disgruntled borrowers often respond with counterclaims alleging lender misconduct. This guide, prepared by David Lutz, Minnesota attorney, helps in understanding common lender liability theories—and
In secured lending, few issues are as critical—or as frequently misunderstood—as purchase money priority. When multiple creditors claim an interest in the same collateral, priority determines who gets paid first. Under Article 9 of the Uniform Commercial Code (UCC), purchase money security interests (PMSIs) can dramatically alter the normal first-to-file priority rules. For lenders and
David Lutz Attorney Explains Purchase Money Priority Under the UCC Read More »
In secured lending, lien priority determines outcomes. When a borrower defaults or enters bankruptcy, priority dictates which creditor gets paid first—and which may recover little or nothing. One of the most powerful, and most misunderstood, priority tools under Article 9 of the Uniform Commercial Code (UCC) is the purchase money security interest (PMSI). While PMSIs
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