General Electric Capital Corporation v. Central Bank

EASTERBROOK, Circuit Judge.

Duchow’s Marine, Inc., financed its inventory of boats with a loan from General Electric Capital Corporation (geco), which took a security interest in the boats and the proceeds from their sale. The security interest was perfected under Wisconsin law.. Du-chow’s Marine and its owner Roger Duchow (collectively Duchow) promised to deposit proceeds into an account from which they could be disbursed only on geoo’s signature. The name on this account at Central Bank was “Duchow Marine, Inc. GE Escrow Account.” Following the parties’ convention, we call this the blocked…