Uniform Commercial Code/Article 9

Delaware’s Judge Walrath Writes a Primer on Consignments

Perfecting a consignment is easy, but failing to do so is disastrous.

Trustee Gloms Proceeds of an Unperfected Consignment, Not Just the Goods

Ninth Circuit interprets UCC § 9-319(a) to permit avoidance of consignor’s interest in proceeds of an unperfected consignment.
Court: 

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.

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