P.T. Bank Central Asia v. Chinese American Bank
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Rubin, J.
This dispute involves the procedures for filing and maintaining a recorded security interest under article 9 of the Uniform Commercial Code and presents a case of first impression in this jurisdiction. Central to its resolution is the interplay between UCC 9-401 (2) and 9-403 (2) governing, respectively, the effect of actual knowledge of a competing creditor’s financing statement and the effect of lapse on a security interest. Reduced to its essentials, the issue is whether knowledge is a material consideration following a lapse with respect to one out of two…
2Cases cited22 opinions
- Sillman v. Twentieth Century-Fox Film Corp.New York Court of Appeals · 1957
- People v. Mobil Oil Corp.New York Court of Appeals · 1979
- Sanders v. WinshipNew York Court of Appeals · 1982
- Telaro v. TelaroNew York Court of Appeals · 1969
- Da Silva v. MussoNew York Court of Appeals · 1990
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- Chase Manhattan Bank, N.A. v. Nemko, Inc. (In Re Nemko, Inc.)United States Bankruptcy Court, E.D. New York · 1997
- Frank Parlamis, Inc. v. Piccola Pizza Café-Times Square, Inc.Appellate Division of the Supreme Court of the State of New York · 1999
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