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January 24, 2022
In Florida, a lender’s UCC filings technically identified the debtor incorrectly, but the Court of Appeals couldn’t determine whether the lender holds a secured interest. Now, the fate of the …
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August 23, 2021
Compliance with UCC 9-503(a) must be one of the easiest and most challenging aspects of perfecting security interests. A contradiction, right? Under Article 9, a debtor should be identified on …
September 14, 2020
Purchase Money Security Interest (PMSI) Filings were created to encourage trade creditors to sell goods on credit terms, specifically in situations when creditors may not be comfortable extending the requested …
September 23, 2019
An Illinois Court of Appeals has reversed the Bankruptcy Court’s decision in 180 Equipment, LLC v First Midwest Bank, which had allowed the bankruptcy trustee to avoid the security interest …
September 9, 2019
I can’t begin to tell you the number of times I have said or written some variation of “… when filing a UCC, always list the individual’s name as it …
June 24, 2019
Who enjoys a good ol’ mystery game? Today’s mystery is why a Georgia Bankruptcy Court deemed one creditor’s UCC filing seriously misleading, thus making the creditor’s security interest unperfected. First, …
July 9, 2018
The U.S. Bankruptcy Court in Missouri recently determined a creditor’s priority in collateral at one address and priority in a blast booth installed on another property, based on the creditor’s …
March 5, 2018
Yes, that’s right. It’s yet another case of an unperfected security interest because the creditor failed to comply with Article § 9-503. In a fight for priority, a creditor claimed …
February 19, 2018
Filing a UCC on an individual? It is critical that you comply with Article § 9-503(a): The Financing Statement must list the debtor’s name as it appears on the debtor’s …
October 9, 2017
As we prepare and review UCC filings, clients frequently ask us, “Does an extra space in my customer’s registered name really matter?” and “Does it matter whether I identify my …
March 6, 2017
In a recent court decision, one creditor’s security interest was eliminated because they spelled the individual debtor’s name correctly. Yes, I said “correctly.” Because, in this case, “correctly” and …
November 1, 2016
You have taken the meticulous steps to properly perfect your security interest. You may have spent countless frustrating hours going back and forth with your legal department to agree on …
Education Center
Education Center
