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Professor Margit Livingston on Changes in a Debtor's Business Structure under U.C.C. Article 9 (PDF)

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A secured party that perfects its security interest without flaw at the outset can lose its perfected status because of post-filing changes in the debtor's business structure. It is incumbent upon secured parties to keep track of such changes and to act swiftly to preserve perfection at all times. In particular, the tricky relationship between UCC §§ 9-508 and 9-326 can leave secured parties surprised by the unexpected loss of priority.

 

Margit Livingston is Professor of Law, DePaul University College of Law.

 

Professor Livingston's primary areas of specialization are intellectual property, commercial law, animal law, and remedies. She has co-authored a book on tidal and coastal law and published numerous articles and book chapters on various subjects, including secured transactions, public rights in coastal properties, professional ethics, copyright, animal welfare, and criminal and civil contempt. She has been a visiting professor of law at William and Mary, Fordham, and the University of Illinois, and she is a graduate of the renowned Second City Training Program for Improvisational Comedy. She has received several awards for her teaching and scholarship, including the University Excellence in Teaching Award (2008) and the College of Law Faculty Achievement Award (2010). She earned her M.A. (Theatre Arts) and J.D. from the University of Minnesota and her LL.M. from the University of Illinois.

 

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