Recently, we discussed In re CHL, a case involving a real estate developer in Chapter 11.

In a Chapter 11 bankruptcy, the debtor attempts to reorganize its affairs in a Chapter 11 Plan.

As all creditors know, you must file a financing statement under the Uniform Commercial Code ("UCC"), called a "UCC-1," with the North Carolina Secretary of State to perfect a security interest in personal property (and with the county Register of Deeds if the property might become a real estate fixture).  The UCC-1 puts the world on notice of your security interest and establishes your place in line with respect to rights in the collateral.  But you must prepare and maintain