Skip to main content
  • Compliance & Regulation

Floor Plan Financier Can’t Reclaim Collateral Due to Lack of UCC Filing

Michael L. Weissman

Share

A floor plan financier argued that its trust agreement with a bankrupt debtor excused its failure to make an Article 9 UCC filing to perfect its security interest. The court rejected that argument in Hawaii Motorsports, LLC, 2020 Bankr. Lexis 3428 (Bankr.D. Mont. 2020).

Hawaii Motorsports, LCC, the debtor, was in bankruptcy and American Honda Finance Corporation, the financing source for the debtor, was trying to reclaim the debtor’s inventory and proceeds from the sale of…

About the Author
Michael L. Weissman
Counsel, Levin & Ginsburg Ltd.
Related Articles
Gen X May Be the Most Undervalued Banking Opportunity Right Now
Gen X May Be the Most Undervalued Banking Opportunity Right Now
  • Fraud, Growth & Innovation
Why Physical Security Now Starts With Digital Exposure
Why Physical Security Now Starts With Digital Exposure
  • Risk, Talent & Workforce, Technology
Fraud Has Become an Identity Problem
Fraud Has Become an Identity Problem
  • Fraud, Risk, Technology

Login to View This Content

 

Become a member to unlock exclusive content, connect with industry experts, and gain access to valuable resources. If your employer is an institutional member, activate your ProSight membership benefits with a simple email address.