Legal Question in Business Law in Illinois
A UCC search is showing that I have a securities interest against my business.In 2000 I filed for a line of credit with the LaSalle Bank, but never used it. LaSalle was bought out by Bank of America and they say they have no record. I cannot sell my business because of it. How do I get this off my UCC report so I can sell my business?
Asked on 11/09/09, 8:49 pm
1 Answer from Attorneys
Adam S. Tracy
Securities Compliance Group Ltd
Thank you for your question. To be sure, you did not use the line, but the line, and hence the security interest, is still in place. LaSalle was not bought by Bank of America, howerver, so you may be looking in the wrong place. That aside, you may need to take action to extinguish the interest. Please feel free to email me directly with further questions: [email protected]
Answered on 11/21/09, 3:31 pm
Related Questions & Answers
-
I run a small bussines and I sold a job.I have a contract with the customer.My... Asked 11/03/09, 5:55 pm in United States Illinois Business Law
-
A business competitor is contacting our customers and telling them we are being sued... Asked 10/30/09, 12:20 pm in United States Illinois Business Law
-
If I'm willing to pay the fee Can I reinstate a corporation that is not mine? Asked 10/26/09, 3:46 pm in United States Illinois Business Law
-
I am forming a General Partnership for a business with a women who is married and... Asked 10/20/09, 3:22 pm in United States Illinois Business Law
-
What business structure is appropriate for a freelance graphic designer (I will also... Asked 10/09/09, 11:06 pm in United States Illinois Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
