Creditors’ Rights and Debtors’ Protections at the Intersection of Consumer Bankruptcy and UCC Article 9

By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN)

PART II – BASICS OF PERFECTION OF SECURITY INTERESTS

Introduction

Current circumstances, with a pandemic and a recession, portend a wave of bankruptcy filings. In the consumer bankruptcy field, trustees and debtors' counsel often are uncomfortable with the rules in UCC Article 9. In this space, we have previously looked at a number of topics involving financing statements (UCC-1s), all of which touch on the interplay of Article 9 and bankruptcy.1 In . . .

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