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  • Compliance & Regulation

True Lease or Secured Transaction?

Michael L. Weissman

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In re Scorpion Fitness, Inc., et al., 2020 Bankr. Lexis 1294 (Bankr. S.D. N.Y. May 18, 2020) raised the question of whether the misdescription of a party in the loan documentation would invalidate an entire security interest. The court held that it would not.

Scorpion Fitness, Inc. was formed to develop and operate a high-end fitness facility in New York. The investment vehicle through which one could become an investor in the fitness center was Scorpion Club Ve…

About the Author
Michael L. Weissman
Counsel, Levin & Ginsburg Ltd.
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