Cox, Castle & Nicholson has extensive experience with respect to a secured creditor's rights and a debtor's defenses under Article 9 of the Uniform Commercial Code, as well as nonjudicial remedies such as lenders' enforcement under the Assignment of Rents legislation codified in 2938 of the California Civil Code.
Often employed in conjunction with or as an alternative to foreclosure, lenders have a wide variety of remedies. We are experienced in assisting lenders in these remedies, such as (i) conducting "commercially reasonable" private foreclosure sales under Uniform Commercial Code, (ii) putting account debtors on notice, (iii) conducting "commercially reasonable" public foreclosure sales under Uniform Commercial Code, and (iv) accepting title to personal property collateral in full or partial satisfaction of the debt. We are also experienced in the real property context with putting tenants on notice with respect to an assignment of rents.
Our extensive lending experience also has enabled the firm to assist borrowers so that they receive the full benefit of the law. We have extensive experience representing borrowers in challenging a lender's actions as either not being in compliance with the requirements of the Uniform Commercial Code or not being "commercially reasonable." We also have extensive experience in representing guarantors to minimize their potential liability.