Client Alert
As discussed in our previous client alert, Delaware Supreme Court Rules that a Mistaken Filing Can Terminate Security Interest, litigation over whether $1.5 billion in prepetition loans to GM were secured or unsecured has been pending before the Second Circuit Court of Appeals. The Second Circuit recently issued a decision holding that although the secured party did not intend to terminate the security interest, the filing of a mistaken termination statement, where the secured party was provided copies of the mistaken termination statement and a checklist listing the filings to be terminated, was nevertheless effective to terminate the security interest.

We have always been focused on finance.

  • 1913
    TS Chapman partners with Henry Cutler to form Chapman and Cutler
  • 1st
    Chapman's first client in 1913 is still a client of the firm today
  • 22
    Diverse financial practices serving regional, national, and global clients
  • 6
    Offices across the country and in key US financial centers

We use cookies to deliver our online services. Details of the cookies we use and instructions on how to disable them are set out in our Privacy Policy. By using this website you agree to our use of cookies.