Floating Lien

16 Florida cases classified under this topic · sorted by citation count · browse and sort

• Toyota Indus. Trucks U. S. a., Inc. v. Citizens Nat'l Bank of Evans City
  611 F.2d 465· 3d Cir.· 1979-12-17 ·cited 30×
  The court held that the credit arrangement constituted a valid letter of credit under UCC Article Five and that the seller (Toyota) had no duty to mitigate damages because the bank (CNB) had an equal or superior opportunity to protect the collateral.
• DuBAY v. Everette H. Williams
  417 F.2d 1277· 9th Cir.· 1969-08-20 ·cited 28×
  The court held that a pre-Code security agreement invalid under state law remains invalid even after the UCC's effective date, and that a creditor's perfected security interest in after-acquired accounts receivable, perfected before the four-month preference period, is not a void
• In re Middle Atl. Stud Welding Co.
  503 F.2d 1133· 3d Cir.· 1974-08-07 ·cited 11×
  A security agreement must explicitly state its intent to cover after-acquired accounts receivable to be valid under the Uniform Commercial Code.
• Biggins v. Sw. Bank
  490 F.2d 1304· 9th Cir.· 1973-12-07 ·cited 10×
  The court held that the bank's financing statement sufficiently described the collateral, its security interests in after-acquired property were valid, and its claim to the dealer reserve account was perfected, thus withstanding the trustee's challenge.
• In re Samuels & Co., Inc. v. Mahon
  483 F.2d 557· 5th Cir.· 1973-08-20 ·cited 10×
  The Packers and Stockyards Act regulations, establishing a fiduciary duty and requiring identification of carcasses until paid, override the Uniform Commercial Code's lien priority rules for unperfected security interests.
• In re Hygrade Envelope Corp. v. Gibraltar Factors Corp.
  393 F.2d 60· 2d Cir.· 1968-04-01 ·cited 10×
  The court held that the trustee is entitled to recover the value of a preferentially transferred insurance policy, reduced by amounts attributable to new advances made in good faith, but not by advances secured by other collateral.
• Solomon v. Nw. State Bank
  327 F.2d 720· 8th Cir.· 1964-02-24 ·cited 10×
  The court held that the Factor's Lien Agreement was valid and enforceable against the trustee, and that the District Court's interpretation of the Minnesota Factor's Lien Act was permissible.
• In re Lackow Bros., Inc. v. Walter E. Heller & Co.
  752 F.2d 1529· 11th Cir.· 1985-02-11 ·cited 8×
  The court held that the 'ongoing concern' value of collateral was the appropriate standard for determining whether payments constituted preferential transfers, and that the creditor's position had not improved.
• Southtrust Bank OF Ala. v. Borg-Warner Acceptance Corp.
  760 F.2d 1240· 11th Cir.· 1985-05-21 ·cited 4×
  The court held that the inclusion and exercise of after-acquired property and future advances clauses in BWAC's security agreements converted its purchase money security interest (PMSI) into an ordinary security interest, thus losing its priority status.
• Dick Warner Cargo Handling Corp. v. AETNA Bus. Credit, Inc.
  746 F.2d 126· 2d Cir.· 1984-10-11 ·cited 4×
  The court held that UCC § 9-301(4) was not intended to subordinate a prior-perfected security interest in non-advance obligations to a subsequent judicial lien, and thus Aetna's security interest in such obligations prevails over Warner's garnishment lien.
• Depositors Tr. Co. OF Augusta v. Frati Enters., Inc.
  590 F.2d 377· 1st Cir.· 1979-01-11 ·cited 2×
  The court held that a 100% participated note, even if structured to avoid risk for the purchasing bank, can be used for set-off against a bankrupt's deposit account, as long as the assignment occurred outside the four-month preference period.
• Nat'l Acceptance Co. OF Am. v. Frank S. Blackford in Bankr. of the Est. of Shelco Bldg. Corp.
  408 F.2d 20· 5th Cir.· 1969-03-03 ·cited 2×
  The court held that the broad language of the factor's lien agreement was insufficient to secure the indebtedness arising from the separate lease agreement, as the lease was not specifically contemplated or related to the factor's lien.
• In re Castletons, Inc. v. Zions First Nat'l Bank
  990 F.2d 551· 10th Cir.· 1993-04-02
  Pre-bankruptcy payments to a creditor arising from floating liens on all debtor's assets do not constitute preferential transfers if the creditor remains undersecured. A claim for late check return is barred by a one-year statute of limitations if the liability is deemed a penalt
• UNI Imports v. Aparacor
  978 F.2d 984· 7th Cir.· 1992-11-02
• In re SAN Juan Packers, Inc. v. SAN Juan Packers, Inc.
  696 F.2d 707· 9th Cir.· 1983-01-12
  The court held that the bank's security interest in the farmers' vegetables continued as 'proceeds' even after the food processor commingled them with other vegetables, and that the manufacturer was entitled to a ratable share of the commingled mass under UCC § 9-315(2).
• Holzman v. L. H. J. Enters., Inc.
  476 F.2d 949· 9th Cir.· 1973-04-05
  A nonpossessory security interest in after-acquired inventory of a retail merchant qualifies as a purchase money security interest under California law, provided it secures the price of the original inventory or replacements purchased with resale proceeds.