The U.S. Bankruptcy Court for the Southern District of Florida created a three-factor test to help determine the ownership interests of social media accounts. The court in In re Vital Pharm found that (1) documented property...more
On April 28, the U.S. Bankruptcy Court for the Northern District of Oklahoma in Kirtley v. Mabrey Bank (In re: Rudick) held that an entity other than the debtor may grant a lien on the debtor’s property, affirming the legal...more
On April 28, the U.S. Bankruptcy Court for the N.D. of Oklahoma in Kirtley v. Mabrey Bank (In re Rudick) held that an entity other than the debtor may grant a lien on the debtor’s property, affirming the legal standard that...more
When is a loan not a loan? The SDNY Bankruptcy Court in In Re: Live Primary, LLC held that a $6 million start-up loan was actually an equity contribution after analyzing the terms of the transaction and the intent of the...more
In a win for lenders, on September 11, the U.S. Court of Appeals for the Seventh Circuit reversed the U.S. Bankruptcy Court for the Central District of Illinois, holding that the collateral description in the UCC-1 financing...more
10/1/2019
/ Appeals ,
Bankruptcy Court ,
Chapter 7 ,
Collateral ,
Commercial Bankruptcy ,
Commercial Loans ,
Financial Institutions ,
Lenders ,
Liens ,
Reversal ,
Security Agreements ,
UCC Financing Statements ,
Uniform Commercial Code (UCC)
On May 8, the U.S. Bankruptcy Court for the Western District of Missouri in In re 8760 Service Group held that a creditor had a first-priority interest in certain collateral of a debtor, before a subsequent creditor, despite...more
On June 20, the U.S. Bankruptcy Court for the District of Delaware held that anti-assignment clauses contained in certain promissory notes were enforceable under Delaware law, contract law and the Uniform Commercial Code....more