Help Center

Uniform Commercial Code/Article 9

SIPA Bars General Unsecured Claims for Failure to Transfer Accounts Before Filing

The trustee for a bankrupt broker can ignore an individual customer’s request to transfer securities to a solvent broker and may instead transfer customer accounts in bulk.

A Future Advance Clause Saved a Loan from Being Unperfected

Potential harm to the debtor is not a factor in deciding to avoid an unperfected lien.

Reperfecting a Mortgage Isn’t Grounds for a Fraudulent Transfer

Mistakenly cancelling a mortgage can result in a preference but not a fraudulent transfer if the cancellation is later rescinded.

Goods Delivered Directly to a Debtor’s Customers Never Qualify for 503(b)(9)

Judge Shannon writes an important decision for the era of ecommerce.
Court: 

Receipt under Section 503(b)(9) Occurs on Physical Possession, Third Circuit Holds

Third Circuit aids suppliers because ‘receipt’ can occur after ‘delivery.’
Court: 

Pages