White Paper

2 Pages
  • 2 Pages

Can We Expect Courts to be Reasonable in Applying Laws?

 

If that is what you expect, the rules for UCC filings will burst your bubble.

Double Bubble, Ltd. had its secured claim deflated in U.S. Securities & Exchange Commission v. ISC, Inc. Double Bubble claimed to be a secured creditor with a security interest perfected by the filing of a Uniform Commercial Code financing statement with the Wisconsin Department of Financial Institutions. If Double Bubble were a secured creditor it would receive 100 percent of its claim; if an unsecured creditor, it would receive 66 percent of its claim. Download this white paper to read how the District Court popped the hopes of Double Bubble for a full payment!