UCC Document Community

Having major issues with BlockFi UCC filings after their bankruptcy mess. We had several UCC-1s filed against BlockFi as debtor back in 2021-2022, but now with all the corporate restructuring and name changes, I'm not sure how to handle continuations. The original filings show 'BlockFi Lending LLC' but I'm seeing references to 'BlockFi Inc.' and other entity variations in court documents. Our continuation deadline is coming up in March and I'm worried about debtor name mismatches causing rejections. Has anyone dealt with similar situations where the debtor entity goes through bankruptcy reorganization? Do I need to file amendments first to update the debtor name, or can I just file the continuation with the original name? The collateral is cryptocurrency lending agreements, so there's significant value at stake here.

Been dealing with a nightmare scenario where our UCC-1 filings keep getting rejected because different states seem to have their own interpretation of what constitutes 'uniform' debtor name formatting. We've got a multi-state equipment financing deal and three different Secretary of State offices are giving us conflicting guidance on how to format the same LLC debtor name. One wants commas, another says no punctuation, and the third is insisting on specific abbreviation standards. I thought the whole point of the UCC uniform system was to create consistency across jurisdictions? Has anyone else run into this mess where the 'uniform' code isn't so uniform in practice? We're at risk of missing our perfection window if we can't get these filings accepted soon.

I'm handling a transaction where we're taking possession of some industrial equipment as collateral and my colleague mentioned that when perfection by possession occurs the parties do not have to create a written security agreement. This seems too simple to be true? We're a small equipment finance company and usually we file UCC-1s with detailed written agreements, but this situation involves us physically holding the machinery at our warehouse. The debtor defaulted on payments for other equipment and we're restructuring the deal. Do we really not need any written documentation when we have actual possession? I'm worried about missing something critical that could void our security interest. The equipment is worth about $180k and I don't want to mess this up. Has anyone dealt with similar possession scenarios where you skipped the written agreement?

Our firm handles about 200+ UCC continuations quarterly and I'm drowning in the manual work. Currently using spreadsheets to track filing dates and manually entering each UCC-3 continuation into our state's portal. The process is taking forever and I'm terrified of missing a 5-year deadline. Looking for UCC filing software that can handle bulk uploads or at least streamline the continuation process. We mainly file in Delaware, Pennsylvania, and New Jersey. Anyone using software that actually works for high-volume UCC filings? The state portals are decent but doing 50+ continuations one-by-one is killing me.

Has anyone else had problems with IL UCC online filing rejections lately? I'm trying to file a UCC-3 continuation for a client and the system keeps kicking it back saying there's a debtor name mismatch. The original UCC-1 was filed 4 years ago and now I'm getting close to the 5-year deadline. I've triple-checked the debtor name against the original filing but the IL system is being really picky about punctuation and spacing. The debtor is 'Advanced Manufacturing Solutions, LLC' but I'm wondering if there's some formatting issue I'm missing. This is stressing me out because if I don't get this continuation filed soon, the lien will lapse and my client will lose their security interest in about $180K worth of equipment. Anyone know the exact formatting requirements for IL UCC online filing or had similar issues with their system?