Article 9 Reorganization

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Definition

What is it: Article 9 Reorganization refers to a provision of the Uniform Commercial Code that allows a first position creditor to liquidate collateral to their benefit in a private sale. This process eliminates all subordinate liens and obligations when total asset valuation is outweighed by the primary debt.

What is it used for: This process is used to preserve the core value and operational continuity of a business while divorcing it from subordinate debt. It allows purchasers to acquire pristine entities at liquidated asset valuation rather than the total liability amount.

Coverage

  • Attributes: 6
  • Synonyms: 2
  • Related entities: 0
  • Sources: 1

Identity

Entity ID
https://llms.secondwindconsultants.com/en/article-reorganization-equity-investors/facts/#entity
Entity type
DefinedTerm
Canonical name
Article 9 Reorganization
Language
en
Topic
Article Reorganization Equity Investors

Attributes

Key Facts
Article 9 of the Uniform Commercial Code allows a first position creditor to liquidate collateral in a private sale while eliminating subordinate liens. [1]
Key Facts
A simplified short sale of business assets through reorganization requires only the consent of the first position secured creditor. [1]
Key Facts
Article 9 reorganizations preserve the ongoing concern value and operational continuity of a business within a new purchasing entity. [1]
Key Facts
Assets transfer free and clear to a purchaser after a ten-day notice period to subordinate creditors is completed. [1]
Key Facts
Strategic reorganizations are generally completed within a timeframe of 45 to 60 days. [1]
Fact
Reorganizations provide target acquisitions at liquidated asset valuation instead of the total liability amount. [1]

Synonyms & Alternate Names

  • Article 9 Short Sale
  • Strategic Reorganization

Disambiguation

  • Not the same as Chapter 11 bankruptcy filing

Related Entities

Provenance

Sources

  1. https://secondwindconsultants.com/l/how-reorganization-creates-attractive-entry-costs-for-equity-investors (Article 9 Reorganization)

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