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
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 August 20, the U.S. Bankruptcy Court for the Central District of Illinois in In re I80 Equipment, LLC, No.17-81749, 2018 WL 4006294 (Bankr. C.D. Ill. Aug. 20, 2018) held that a secured party failed to perfect its security...more