Creditors’ Rights and Debtors’ Protections at the Intersection of Consumer Bankruptcy and UCC Article 9 – Part 3

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

PART III – DELAYED PERFECTION OF SECURITY INTERESTS

Introduction

Current circumstances (a pandemic and dire economic conditions) portend an onslaught of bankruptcy filings. In the consumer bankruptcy field, trustees and debtors' counsel often are uncomfortable with the rules in Article 9 of the Uniform Commercial Code (UCC). In this space, we have previously looked at topics involving financing statements (UCC-1s), which touched on the interplay of Article 9 and the Bankruptcy Code.1

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

No Author Biography has been linked to this Article.

Related Articles

November 17, 2019
Taxpayers who are contacted by a private collection agency on behalf of the IRS might have questions about the program. These taxpayers can visit IRS.gov to find answers to questions they might have. In fact, to better help these taxpayers, the IRS recently updated the private debt collection pages on IRS.gov. These updates added more information for taxpayers whose case...
November 10, 2019
By William Houston Brown, Editor and Adviser, NACTT Academy for Consumer Bankruptcy Education, Inc. Several Official and Director’s Forms related to bankruptcy filings are revised and some are new, with some already taking effect on October 1, 2019, others to take effect December 1, 2019, and others taking effect February 19, 2020. Several forms have already been updated on April...
Members
May 5, 2019
By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) Background Last year, the Ninth Circuit in In re Taggart1 ruled that an act in violation of the discharge injunction did not empower a court to find a creditor in contempt, if the creditor believed in good faith that the discharge injunction did not apply—even if the creditor's belief was...
Members
October 6, 2019
By Jan Hamilton, Chapter 13 Standing Trustee (Topeka, KS) Click here for Part One Click here for Part Two What needs to be in a plan filed in a case under the SBRA? Start with the statute…1 A. Contents of Plan2 Comparison of “Contents . . . It looks like you are not signed in or registered! This content is...
Members
Copy of Hildebrand-2016
In determining the appropriate “present value” factor to be added to the payment of a secured claim in a Chapter 12, the Court should look at the “riskless” treasury rate rather than the “prime rate” before enhancing it with a risk factor.  (Ebinger) Farm Credit Services of America v. Topp, 2022 WL 2981590 (S.D. Iowa, July 19, 2022) Case Summary...
Members
Copy of Hildebrand-2016
I never set out to be a bankruptcy lawyer, much less a trustee. It was always my intent to be trial lawyer. The thrill of victory, the agony of defeat, and the captive audience of a jury; having to think fast on your feet was exciting. Facing jurors and witnesses with a modicum of confidence was what my view of...
October 20, 2019
By The Honorable William Houston Brown (Retired) Claimant in proof of claim lacking prima facie validity was sanctioned. The proof of claim secured by the debtor’s residence failed to satisfy Rule 3001(c)(2)(C) requirements, including incomplete Form B 410A with no payment history. The claimant’s attempt to amend the claim on the eve of the contested objection to claim would defeat...
Members
NBR cropped 2
November 12, 2023
Cathy Moran’s article Bankruptcy Lawyer Must Have Otherworldly Powers raised an interesting issue: what should a lawyer do when a client calls and says, “what the heck IS this [notice, letter, order, whatever] that I just got?” Professor Rapoport’s take on this issue is not at all what you would expect. She puts the responsibility squarely on . . .
Members
September 20, 2020
By The Honorable William Houston Brown (Retired) Three-month delay in completing bare-bones petition. When the Chapter 13 debtor filed a skeletal petition, her motion for more time to complete schedules, statement and plan was denied, with no cause found for extending time after three-month delay, and show cause hearing was set to determine if case should be dismissed with 180-day...
Members
Headshot
October 8, 2023
David A. Mawhinney is the Chapter 13 Standing Trustee for the Central and Western Divisions of Massachusetts and a Subchapter V Trustee for Region One. He replaced Denise M. Pappalardo upon her retirement which was effective December 24, 2022. David is a 2002 graduate of Boston College and received his J.D. from Boston College Law School in 2011. When David started...