Future-Advance Clauses: Saving Lien Priority and Perfection in Subsequent Loans
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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.
Litigation Finance and the Issues It Creates in Bankruptcy
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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.
Keeping Consigned Merchandise Away from a Consignee’s Creditors
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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Mistakenly cancelling a mortgage can result in a preference but not a fraudulent transfer if the cancellation is later rescinded.
Benchnotes November 2017
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Short Arguments on Interesting Chapter 11 Topics
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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.’
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