ARTICLE 9 – UCC- FORECLOSURE- JUDGEMENT INTEREST
BROKERAGE & WORLDBID AUCTION PLATFORMS
Braun has decades of experience providing very technical and strategic platforms for real estate and asset sales for Article 9, UCC, Foreclosure, Bankruptcy 363 and Judgement Interests.
Types of Assets:
- Real Estate
- Notes
- Security Interests
- Equipment
- Machinery
- IP
- Minority Interests
- Partnership Interests
From state to state, laws are different, therefore requiring extensive knowledge to effectively run a marketing and sale process which will protect the parties involved.
A common question we are asked is – “What is the difference between finding a buyer for real estate or an asset versus meeting the minimum statute requirements for marketing?
The Answer is “Marketing and Advertising”. The more time allowed in conjunction with using the market correct advertising medium for the real estate or asset to be sold will determine the interest level generated.
We tailor our sale platforms to the objectives of the client.
Our expertise provides are clients ranging from BlackRock, JP Morgan and other Fortune 100 companies with the knowledge, process and marketing to effectively sell their assets.
Commercial Code 9610(b) states:
Every aspect of a disposition of collateral, including the method, manner, time, place, and other terms, must be commercially reasonable. If commercially reasonable, a secured party may dispose of collateral by public or private proceedings, by one or more contracts, as a unit or in parcels, and at any time and place and on any terms.
There’s no specific test for how an asset should be advertised or what information should be included in the advertisements, but California Commercial Code 9627(b) lays out the test for commercial reasonableness of a sale:
(b) A disposition of collateral is made in a commercially reasonable manner if the disposition satisfies any of the following conditions:
(1) It is made in the usual manner on any recognized market.
(2) It is made at the price current in any recognized market at the time of the disposition.
(3) It is made otherwise in conformity with reasonable commercial practices among dealers in the type of property that was the subject of the disposition.