cases, filing a financing statement will protect the lessor/secured party from
other secured parties. However, one type of transaction has bedeviled the
courts for many years--the secured transaction disguised as a lease. Professor
examines whether a corporation's possessory repairman's...
In a recent bankruptcy case,
the secured creditors, to their horror, found that they erroneously allowed the
debtor to file a termination statement although the debtor still owed millions
of dollars on the associated transaction. A sympathetic court, however,
applying traditional common law principles...