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It may be foul, but there is no harm: Not all mistakes have dire consequences under UCC Article 9

USA - March 8 2019 It is an understatement to say that questionable collateral descriptions in Uniform Commercial Code (“UCC”) financing statements have spawned much...


In Gouletas, bankruptcy court rules statutes of limitations have limitations

USA - February 8 2019 In the recent Chicago bankruptcy case In re Gouletas, U.S. Bankruptcy Judge Timothy A. Barnes ruled that obligations are not extinguished by statutes...


Assignee’s pre- and post-petition attorney fees are compensable in a Chapter 7 bankruptcy

USA - June 19 2018 In a recent Chapter 11 case and subsequent Chapter 7 case, Judge Timothy Barnes of the N.D. of Illinois allowed counsel for an assignee (“Assignee”)...


Secured creditors beware

USA - June 7 2017 A series of cases decided by the federal district court in Chicago holds that a properly perfected secured creditor can waive its right of priority in...