Growth Properties v. Lempert

Opinion

HANING, J.

Plaintiff/appellant Growth Properties (Growth) appeals from a judgment in favor of defendants/respondents Arthur and Susan Lempert (Lempert), husband and wife, on its causes of action for interference with an advantageous business interest, conversion and impairment of a security interest, The question before us is whether a secured creditor under the Uniform Commercial Code is precluded from bringing such actions against a third party purchaser of the collateral after the creditor’s perfected rights in the collateral have lapsed, even though the statute of limitations for…