Uniform Commercial Code/Article 9

Cashier’s Checks and Ordinary Checks Are Treated the Same Under Barnhill

The UCC and Barnhill are in accord when it comes to ownership of funds underlying an unpaid check.

‘Oops’ and ‘Mea Culpa’ Won’t Make a Security Interest Attach, Judge Nugent Says

When it comes to attachment and perfection of a security interest, the devil is in the details.

May 2020

June 2020

May 2020

Seventh Circuit: Reclamation Claims Are Subordinate to DIP Financing

The 2005 amendments to Section 546(c) departed from state law under UCC § 2-702 by creating a federal rule making reclamation claims subordinate to existing secured claims and DIP financing.

Jan 2020

Feb 2020

‘Holder Rule’ Protects Debtors from Claims by Subsequent Holders of Consumer Paper

Holder in due course of consumer paper remains subject to the debtor’s claims against the originator of the paper.

Sometimes, a Claim Purchaser Can’t File a Claim, Delaware Judges Say

Judges Stark and Carey from Delaware distinguish between prohibiting the power and the right to assign a claim.