In re Amron Technologies (06-50508)

Multiple creditors jointly loaned money to the debtor.each contributing $10, exchange for a lien the debtor's assets. Only one of the joint lenders, Ms. LaGrange, filed a financing statement, which omitted the names of the other lenders. The Court concluded Ms. LaGrange was the only creditor with a secured claim; however, she was secured for the full amount due under the note and not just her $10,000 contribution.

Thursday, March 22, 2007