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Decision by New York's Highest Court Results in Account Debtor Owing Its Counterparty's Debts

In Worthy Lending LLC v. New Style Contractors. Inc., New York’s highest court, the New York Court of Appeals, has ruled that a security interest includes a lender’s right to force the borrower’s account debtors to remit...more

NY Court of Appeals' Ruling Results in Account Debtor Owing Its Counterparty's Debts Under UCC Article 9

In Worthy Lending LLC v. New Style Contractors. Inc., the New York Court of Appeals held that a security interest includes a lender’s right to force the borrower’s account debtors to remit payments directly to the lender,...more

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