News & Analysis as of

Consumer Bankruptcy › Perfected Security Interest

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -
Hudson Cook, LLP

Lien Filing Error Renders Creditor's Claim Unsecured

Hudson Cook, LLP on

Many steps creditors take in the process of directly or indirectly originating a vehicle finance agreement are designed to protect the creditor in the event its credit risk assessment was off and the consumer defaults. A...more

Ervin Cohen & Jessup LLP

Imperfect!!! – Recordation Alone May Not Be Suficient To Perfect Deeds Under California Law

Ervin Cohen & Jessup LLP on

Once a lender records a deed of trust, isn’t that sufficient under California law to perfect the deed against a Chapter 7 trustee’s attempt to set it aside? Based on the recent bankruptcy court decision of In re Nowlin, the...more

Balch & Bingham LLP

Mistaken Date Reference in Security Agreement Costs Bank its Lien Priority

Balch & Bingham LLP on

It’s a common occurrence – a mortgagor or grantor signs the security instrument a day or two in advance of the loan, or perhaps a note is re-signed a couple of days after closing to correct an error in the original note....more

Troutman Pepper

Foreclosure Sales: When Is the “Deed” Done?

Troutman Pepper on

In re Betchan, 524 B.R. 830 (Bankr. E.D. Wash. 2015) – A mortgagee was the highest bidder at a foreclosure sale that took place shortly before the debtor filed bankruptcy. The lender requested relief from the...more

Troutman Pepper

UCC Collateral Description: More May Not Be Better

Troutman Pepper on

Ring v. First Niagara Bank, N.A. (In re Sterling United, Inc.), 519 B.R. 586 (Bankr. W.D.N.Y. 2014) – A chapter 7 trustee sought to recover as preferences payments made by the debtor to a lender and proceeds of...more

Troutman Pepper

Mortgage Recording Requirements: Tiny Technical Defect Strikes Again

Troutman Pepper on

Rogan v. U.S. Bank, N.A. (In re Partin), 517 B.R. 770 (Bankr. E.D. Ky. 2014) – A chapter 7 trustee sought to avoid mortgages on three properties using his “strong arm” powers, arguing that they were improperly recorded...more

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