News & Analysis as of September 17, 2024

Consumer Bankruptcy › Uniform Commercial Code (UCC)

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Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code. Debtors are... more +

Consumer Financial Services 2023 Year in Review and A Look Ahead

Troutman Pepper on 2/1/2024

We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more

Getting Paid in Bankruptcy – Part I, Lender Claims

Bowditch & Dewey on 8/21/2020

In this series, we look at how various payment rights are treated in bankruptcy. A summary like this could not possibly address every right that might arise in any given bankruptcy case. We have omitted several of the...more

Can I Secure A Loan with Bitcoin? Part II

Ward and Smith, P.A. on 4/9/2018

In my previous article, I discussed the challenges of using Article 9 of the Uniform Commercial Code ("UCC") to create and perfect a security interest in virtual currency like Bitcoin, Ethereum, or Litecoin. (I use...more

Creditor-Friendly Changes to North Carolina’s Accord and Satisfaction Law

Poyner Spruill LLP on 3/20/2017

A creditor can now reinstate a disputed debt that has been inadvertently discharged. The North Carolina Legislature recently amended its accord and satisfaction law to include creditor-friendly revisions that make it...more

Settlement Proceeds: When Does Cash Become Quasi Real Estate?

Troutman Pepper on 9/2/2015

Farmer v. Citizens Nat’l Bank of Athens (In re Davis), 528 B.R. 757 (Bankr. E.D. Tenn. 2015) – A chapter 7 trustee sought a court determination that the trustee had a superior claim to settlement proceeds arising from...more

Security Agreement: When Drafting You Better Say What You Mean

Troutman Pepper on 6/10/2015

State Bank of Toulon v. Covey (In re Duckworth), 776 F.3d 453 (7th Cir. 2014) – A chapter 7 trustee sought to treat a secured lender as unsecured based on an error in the security agreement. The lender argued that the...more

Manufactured Home Lien: Forget Perfection, You Need To Have A Lien In The First Place

Troutman Pepper on 3/25/2015

Morris v. Ark Valley Credit Union (In re Gracy), 522 B.R. 686 (Bankr. D. Kan. 2015) – A chapter 7 trustee sought to avoid a credit union’s security interest in a manufactured home by asserting his strong arm powers as a...more

Lost Mortgage Notes: Those Pesky State UCC Variations

Troutman Pepper on 3/18/2015

Desmond v Raymond C. Green, Inc. (In re Harborhouse of Gloucester, LLC), 523 B.R. 749 (1st Cir. BAP 2014) – A Chapter 7 trustee objected to the proof of claim filed by a downstream assignee of a lost mortgage note. ...more

Mortgage Notes: Those Nasty Assignments!

Troutman Pepper on 3/6/2015

In re Baber, 523 B.R. 156 (Bankr. E.D. Ark. 2014) – The debtors objected to a proof of claim filed on behalf of a mortgagee based on issues arising from assignment of the mortgage note by the lender that originated the...more

UCC Collateral Description: More May Not Be Better

Troutman Pepper on 1/13/2015

Ring v. First Niagara Bank, N.A. (In re Sterling United, Inc.), 519 B.R. 586 (Bankr. W.D.N.Y. 2014) – A chapter 7 trustee sought to recover as preferences payments made by the debtor to a lender and proceeds of...more

Article 9 of UCC revisions effective July 1, 2013

Sands Anderson PC on 7/5/2013

Article 9 of the Uniform Commercial Code (the “UCC”) governs secured transactions between lenders and borrowers covering personal property which is pledged as collateral. The provisions of Article 9 apply to borrowers who...more

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Consumer Bankruptcy › Uniform Commercial Code (UCC)

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