QUESTION
I have a UCC lien on a business I sold and the buyers are in default, I would like to take back the collateral on this loan
Asked on Feb 17th, 2020 on Business Law - New Jersey
More details to this question:
I have a UCC lien on a business I sold and the buyers are in default, I would like to take back the collateral on this loan, all of the collateral is online, social media, website, accounts etc. Thank you.
1 ANSWER
Mergers, Acquisitions and Divestitures Attorney serving New York, NY
Partner at
Russo Law LLC
2 Awards
Depending upon what the contract(s) concerning the sale of the business directs, you MAY need to declare a default and potentially take other steps before you can recover the assets using the UCC lien.
Russo Law LLC
929-262-1101
www.russolaw-llc.com
Answered on Feb 19th, 2020 at 2:40 AM
Lou Russo RUSSO LAW LLC info@russolaw-llc.com 929-292-1101 www.russolaw-llc.com