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NY Court Rejects Terminating Effect of Unauthorized UCC-3 Termination Statements
Practical Law Legal Update 8-504-2977 (Approx. 3 pages)
NY Court Rejects Terminating Effect of Unauthorized UCC-3 Termination Statements
by PLC Finance
| Published on 14 Jul 2011 • USA (National/Federal) |
An update on the New York Supreme Court case, AEG Liquidation Trust v. Toobro NY LLC, finding that unauthorized UCC-3 termination statements do not terminate perfected security interests.