Recently, the United States Bankruptcy Appellate Panel of the Eighth Circuit decided In re EDM Corp.,[1] affirming that a creditor’s priority in collateral may be sacrificed if the debtor’s exact legal name is not exclusively used in the financing statement.
USA, Insolvency & Restructuring, Litigation, BakerHostetler, Debtor, Collateral (finance), Safe harbor (law), Line of credit, Uniform Commercial Code (USA), Eighth Circuit, United States bankruptcy court, Bankruptcy Appellate Panel