Legal Opinion
NEWTEK SMALL BUSINESS FINANCE, LLC v. TEXAS FIRST CAPITAL, INC.
District Court, E.D. Pennsylvania
Decided December 7, 2022No. 5:22-cv-02461Unknown
1Opinion
IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA NEWTEK SMALL BUSINESS : FINANCE, LLC, : : Plaintiff, : CIVIL ACTION NO. 22-2461 : v. : : TEXAS FIRST CAPITAL, INC., : : Defendant. : MEMORANDUM OPINION Smith, J. December 7, 2022 This case arises out of two creditors, burned by their common debtor, fighting over the scraps. The default rule under the Uniform Commercial Code for resolving this kind of fight is first in time, first in right. However, in certain instances, the Code cuts off a security interest to protect parties’ confidence in the finality of regular…
2Cases cited21 opinions
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- Bell Atlantic Corp. v. TwomblySupreme Court of the United States · 2007
- Phillips v. County of AlleghenyCourt of Appeals for the Third Circuit · 2008
- Dean Hedges v. United States of America Environmental Moorings InternationalCourt of Appeals for the Third Circuit · 2005
- Peter Bistrian v. Troy LeviCourt of Appeals for the Third Circuit · 2012
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