2017-2018 Commercial Law Developments, Part I.E (Priority)
Steven O. Weise, Teresa Wilton Harmon, John F. Hilson, Stephen L. Sepinuck, Edwin E. Smith, and Lynn A. Soukup.
1. Lien Creditors
- Granata v. Broderick, 2017 WL 5478364 (N.J. 2017)1, 2 – A lender that obtained a security agreement covering a lawyer’s right to a contingent fee in a specified pending case had an Article 9 security interest in the lawyer’s account. The lender had priority because that interest was perfected by filing before two judicial liens were created on the right to the fee.
- In re Hutton, 2017 WL 3704526 (Bankr. E.D.N.C. 2017)3 – Although a judgment creditor had the sheriff levy on two vehicles of the debtor, and thereby obtained a judgment lien on the vehicles, that lien was not perfected because it was not noted on the certificates of title for the vehicles.