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Bankruptcy Litigation Regulation

Abbreviated Name Makes UCC Financing Statement Defective

In In re Bryant, the U.S. Bankruptcy Court for the Middle District of Georgia determined that a lender’s UCC-1 financing statements were “seriously misleading” under the Georgia Commercial Code because the financing statements identified the individual debtor with his middle name abbreviated.

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In In re Bryant, (Bankr. M.D. Ga. June 7, 2021), the U.S. Bankruptcy Court for the Middle District of Georgia determined that a lender’s UCC-1 financing statements were “seriously misleading” under the Georgia Commercial Code. Because the financing statements identified the individual debtor with his middle name abbreviated, the court concluded that the financing statements were defective and, therefore, that the lender’s security interest had not been perfected.

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