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Uniform Commercial Code/Article 9

‘Oops’ and ‘Mea Culpa’ Won’t Make a Security Interest Attach, Judge Nugent Says

When it comes to attachment and perfection of a security interest, the devil is in the details.
Court: 
10th Circuit›Kansas

Seventh Circuit: Reclamation Claims Are Subordinate to DIP Financing

The 2005 amendments to Section 546(c) departed from state law under UCC § 2-702 by creating a federal rule making reclamation claims subordinate to existing secured claims and DIP financing.
Court: 
7th Circuit

‘Holder Rule’ Protects Debtors from Claims by Subsequent Holders of Consumer Paper

Holder in due course of consumer paper remains subject to the debtor’s claims against the originator of the paper.
Court: 
5th Circuit›Texas›Texas Northern District

Sometimes, a Claim Purchaser Can’t File a Claim, Delaware Judges Say

Judges Stark and Carey from Delaware distinguish between prohibiting the power and the right to assign a claim.
Court: 
3rd Circuit›Delaware

Surety Beats Out the Bank in a Tussle over Retainage in a Construction Contract

Mississippi’s Judge Samson writes a treatise on the priorities between a secured lender and the provider of a payment and performance bond.
Court: 
5th Circuit›Mississippi›Mississippi Southern District

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