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New York’s skyline is constantly changing - and so is the legal infrastructure that underlies complex commercial transactions, particularly the Uniform Commercial Code. Nordquist & Stern represents both borrowers and lenders in general commercial law, secured transactions, letters of credit, and issues involving the Uniform Commercial Code, both current and emerging. The Firm also provides expert testimony and litigation services relating to commercial transactions.

Email: SSternLaw@aol.com

About Us

Sandra

Sandra Stern

Admitted:

  • Massachusetts; Minnesota; New York
  • U.S. District Court, District of Minnesota
  • U.S. Court of Appeals, Eighth Circuit

Law School:

  • Harvard Law School, LL.B. (1962).

College:

  • Goucher College, B.A., highest honors (1959).

Member:

  • The Association of the Bar of the City of New York (Member, Committee on Uniform State Laws, 1999 to date)
  • New York State Bar Association (Chair, Business Law Section, 1998-1999);( Chair, Banking Law Committee of Business Law Section, 1990-1994)
  • New York County Lawyers' Association (Chair, Banking Law Committee, 1986-1989)
  • New York State Bankers Association (Member, Lawyers Advisory Committee on Legislation and Regulation, 1990-1993).

Biography:
In private practice (Nordquist& Stern PLLC) since 1994, concentrating in commercial finance, including secured transactions and letters of credit, loan participations, and electronic commerce issues. Ms. Stern counsels commercial banks and nonbank lenders as well as corporate borrowers.

Previously: Senior Vice President and General Counsel, Banco Santander, 1993-1994. First Vice President and Deputy General Counsel, Republic National Bank of New York, 1980-1993.

Author of treatises:

  • Author: "Structuring and Drafting Commercial Loan Agreements", LexisNexis (updated annually)
  • "Structuring Loan Participations," (currently out of print)

Appointments:

  • Commissioner from New York to the Uniform Law Commission, 1992 to present (life member);
  • Drafting Committee to Revise Uniform Commercial Code Article 5, Letters of Credit
  • Drafting Committee to Revise Uniform Commercial Code Article 7, Documents of Title,
  • Drafting Committee to Revise Uniform Commercial Code Article 9, SecuredTransactions, (2001 and 2010 revisions);
  • Drafting Committee on Uniform Money Services Act,
  • Chair, Study Committee on Payment Systems, and
  • Uniform Commercial Code Committee

Expert Witness testimony in:
Subaru Distributors Corp. v. Subaru of America, Inc., United States District Court, Southern District of New York, 98 Civ. 5566, 2002 Westlaw 413808, March 18, 2002 and In re CRIIMI MAE INC., et. al., United States Bankruptcy Court, District of Maryland, Bankruptcy Case No. 98-2-3115-DK.
BNP Paribas Mortgage Corp. v. Bank of America, N.A. (SDNY)
Deutsche Bank AG v. Bank of America, N.A. (SDNY)

Fellow:

  • American College of Commercial Finance Lawyers, 1995 to date.

Presentations:
What Lawyers Need to Know About UCC Article 9: Secured Transactions, PLI, Chair 2000-2010, Panelist 2000-2015

Publications:

  1. UCC Article 9: Secured Transactions, Bloomberg BNA (2014);
  2. Unique Provisions in New York's Omnibus UCC Bill, New York Law Journal (February 28, 2015);
  3. Paper Terrorism-Remedies for Victims of Abusive UCC Filings, New York Law Journal (March 21, 2014);
  4. Modernizing New York's Commercial Code, New York Law Journal, March 31, 2013;
  5. Amendments to Article 9 of the Uniform Commercial Code, The Goldbook, Lexis Nexis (2010);
  6. Mezzanine Finance: The Lender's Exit Strategy, New York Law Journal, November 20, 2008;
  7. The Lender's Exit Strategy In Mezzanine Financing, New York Law Journal; February 13, 2009;
  8. The Uniform Commercial Code Evolves, But More Slowly in New York, New York LawJournal, January 14, 2011;
  9. Practice Guide, Chapter 16 (Letters of Credit), Matthew Bender (1997) (update only);
  10. Varying Article 5 of the UCC by Agreement, The Banking Law Journal (June, 1997);
  11. Revised Article 5 Brings Uniformity, Predictability to Letters of Credit, New Jersey Law Journal, February 26, 1996;
  12. Recent Revisions to Letter of Credit Law, The Bankers Magazine, November/December, 1996, 8-9;
  13. Cash as Collateral: Perfecting a Security Interest in a Deposit Account, The Bankers Magazine, July-August, 1996, 6-8.
  14. New Code Rewrites U.S.Letter-of-Credit Rules, Corporate Finance, February, 1997.
  15. FASB Complicates Participation Accounting, American Banker, August 13, 1996; and
  16. New Liability Questions for Lenders; American Banker, December 13, 1996.
  17. New York Enacts Revised Article 5 for UCC, N.Y.L.J., Oct.4, 2000 (at 1).
  18. Current E-Signature Laws Lacking in Crucial Rules, Am. Banker, Nov.10, 2000 at 13.
  19. The Future is Here: The Electronic Closing in 2000, Banking Law Journal May/June 2000.
  20. An Analysis of the Secured Lender's UCC Article 9 Insurance Policy, New York Law Journal, June 28, 2002.
  21. Using UCITA for Electronic Contracting, New York Law Journal, January 25,2001.
  22. Making Loan Portfolios Comply With Revised Article 9, New York Law Journal, January 11, 2001.
  23. How Revisions to UCC Article 9 Will Change Secured Financing, New York Law Journal, December 8, 1998.
  24. Overview of Current UCC Article 9, What Lawyers Need to Know About UCC Article 9, PLI, 2002, 2003, 2004.
  25. Insuring the Article 9 Transaction - The Lender's UCC Policy, What Lawyers Need to Know About UCC Article 9, PLI, 2003, 2004.
  26. Secured Lending Issues in Revised Article 7, What Lawyers Need to Know About UCC Article 9, PLI, 2004.
  27. New York State's Cooperative Apartment Provisions, What Lawyers Need to Know About UCC Article 9, PLI, 2002, 2003.
  28. The Impact of UCC Article 5, What Lawyers Need to Know About UCC Article 5, PLI, 2002, 2003
  29. Electronic Commerce and Revised Article 5, What Lawyers Need to Know About UCC Article 5, PLI, 2000, 2001, 2002, 2003.
  30. New Types of Collateral in Article 9, What Lawyers Need to Know About UCC Article 9, PLI, 2000, 2001.
  31. Transactions That Are Partly In Or Not At All: Financial Services Transactions Under UCITA, The UCITA Revolution, PLI, 2000.

Allen

Allen S. Joslyn

Practice Areas:

  • Commercial and Complex Litigation, including defense of state and federal litigation involving antitrust laws, accountants’ liability, securities laws, class actions, product liability and mass torts.
  • Co-lead counsel in National Schools Asbestos Class Actions (E.D. Pa.).

Admitted:

  • 1964, New York;
  • 1965, U.S. District Court, Southern and Eastern Districts of New York;
  • 1970, U.S. Supreme Court; numerous federal Courts of Appeal.

Law School: Harvard Law School, LL.B., cum laude, 1963;

  • College Haverford College, B.A., with honors, 1958;
  • Oxford University, England, B.A., 2nd Class Honors, 1960

College

  • Haverford College, B.A., with honors, 1958;
  • Oxford University, England, B.A., 2nd Class Honors, 1960

Biography:
Phi Beta Kappa. Associate, 1963-1971 and Partner, 1971-1997, Cahill Gordon & Reindel.

Born:
Lock Haven, Pennsylvania, 1936

Peer Review