Filer beware: a lesson on the UCC-3 termination statement

In a ruling of much consequence to secured lenders everywhere, the Delaware Supreme Court held in Motors Liquidations v. JPMorgan Chase Bank that filing an incorrect UCC-3 termination statement can be a costly mistake.

THE UCC-3 TERMINATION STATEMENT

Filed under:
USA, Delaware, Insolvency & Restructuring, Litigation, Fredrikson & Byron PA, Personal property, JPMorgan Chase, Uniform Commercial Code (USA), Delaware Supreme Court
Authors:
Levi J. Smith
Location:
USA
Firm:
Fredrikson & Byron PA