A recent decision by the United States Bankruptcy Court for the Southern District of New York1 found that a UCC-3 termination statement filed on behalf of a secured creditor was not effective because it lacked the proper authorization.
USA, New York, Insolvency & Restructuring, Litigation, Milbank LLP, Debtor, Uniform Commercial Code (USA), United States bankruptcy court
On Friday, the Office of the Comptroller of the Currency closed Home National Bank, headquartered in Blackwell, Oklahoma, and the FDIC was appointed receiver.
USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Office of the Comptroller of the Currency (USA), Federal Deposit Insurance Corporation (USA)
On Friday, the New York State Banking Department closed USA Bank, headquartered in Port Chester, New York, and the FDIC was appointed receiver.
USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Federal Deposit Insurance Corporation (USA)