Personal Property Foreclosure

Understanding what it takes to repossess collateral and turn it into dollars is critical information for every secured creditor. Dickinson Wright is familiar with the nuances of personal property realization -- beginning with the various options secured parties have to get possession and control of their collateral through the ultimate disposition, or foreclosure, of collateral.

Some of the areas of expertise within the personal property foreclosure practice include:

• Representing clients in state and provincial court litigation and relief from stay requests in bankruptcy to recover possession of collateral. 

• Advising clients on the procedural requirements for commercially reasonable public and private sales of collateral under Article 9 of the Uniform Commercial Code or proper realization procedures in Canadian provincial courts. 

• Conducting orderly out-of-court liquidations of all or a portion of a borrower’s assets. 

• Counseling clients on whether to accept collateral in full or partial satisfaction of the debt.