District court reverses and holds that “correct” name, not “legal” name, required on UCC-1 financing statement *

USA - October 31 2012
In a fairly controversial decision from January 2012, the United States Bankruptcy Court for the Central District of Illinois held that a financing statement must contain the “legal” name of an individual as it appears on the individual’s birth certificate.

Co-authors: Patrick E. Mears, John T. Gregg.

Bankruptcy trustee’s trademark license rejection does not revoke licensee rights under prepetition agreement with debtor *

USA - July 23 2012
The Seventh Circuit Court of Appeals recently held that the rejection of a trademark license by the trustee did not abrogate the licensee’s rights under a prepetition agreement to use the debtor’s trademark.

Supreme Court upholds secured creditor’s right to credit bid in sale pursuant to a Chapter 11 plan *

USA - May 30 2012
On May 29, 2012, the United States Supreme Court upheld a secured creditor’s absolute right to credit bid when a debtor files a Chapter 11 plan proposing to sell the secured creditor’s collateral free and clear of the secured creditor’s liens.

Co-authors: John T. Gregg.

Good as gold: obtaining and retaining perfected security interests in borrower bank accounts *

USA - April 14 2010
A corporate borrower's bank accounts can provide powerful security for lenders, especially if the secured party knows that it can quickly and easily sweep the funds if the borrower defaults.

Co-authors: Jennifer A. Kimball.