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

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

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