VIDEO: What is PACA and How Does it Impact the Rights of Lenders?

In this video, Lisa Sumner, creditors' rights attorney with Nexsen Pruet, talks about the Perishable Agricultural Commodities Act and its impact on the rights of secured lenders.

The U.S. Perishable Agricultural Commodities Act of 1930, known as PACA, regulates trading in perishable agricultural commodities such as fruits and vegetables. The PACA statute provides that upon delivery of perishable agricultural products to the purchaser, a constructive statutory trust automatically arises for the benefit of the unpaid seller or supplier. The purchaser holds the agricultural products and all sale proceeds from those products in trust until the seller is paid in full.

VIDEO: What is PACA and How Does it Impact the Rights of Lenders?

In this video, Lisa Sumner, creditors' rights attorney with Nexsen Pruet, talks about the Perishable Agricultural Commodities Act and its impact on the rights of secured lenders.

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