Tuesday 4 December 2012

Occupational Llicense

Occupational Llicense

Further, the court (and presumably the New York legislature) recognized that the tolling language in the pre-2001 version of the New York statute was unnecessary.  Specifically, section 362(b)(3) of the Bankruptcy Code authorizes the filing of a continuation statement against a debtor.  This section of the Bankruptcy Code, which obviates the need for a tolling provision in state law, thus enables a creditor to assure continued perfection of its security interest despite a debtor’s bankruptcy filing.  Interestingly, the Court did not explain why a lender should receive the benefit of continued perfection in a bankruptcy case even though the automatic stay does not prevent a lender from filing a continuation statement.


Read moreFurther, the court (and presumably the New York legislature) recognized that the tolling language in the pre-2001 version of the New York statute was unnecessary.  Specifically, section 362(b)(3) of the Bankruptcy Code authorizes the filing of a continuation statement against a debtor.  This section of the Bankruptcy Code, which obviates the need for a tolling provision in state law, thus enables a creditor to assure continued perfection of its security interest despite a debtor’s bankruptcy filing.  Interestingly, the Court did not explain why a lender should receive the benefit of continued perfection in a bankruptcy case even though the automatic stay does not prevent a lender from filing a continuation statement.

Occupational Llicense

Occupational Llicense

Occupational Llicense

Occupational Llicense

Occupational Llicense

Occupational Llicense

Occupational Llicense

Occupational Llicense

Occupational Llicense

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