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Inaccurate Financing Statement

By Adam J. Schlagman
February 29, 2008

Sure, it happens. People make mistakes. But, when does a mistake made on a financing statement render it 'seriously misleading' under revised Uniform Commercial Code '9-506 and thus ineffective to perfect an asserted security interest? The Bankruptcy Court for the Southern District of Florida recently addressed this issue in the case of In re John's Bean Farm of Homestead Inc. No. 07-11868-BKC-LMI (Nov. 1, 2007).

Case History

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