Protecting Perfected Secured Interests: JP Morgan’s $1.5 Billion Warning

By Stephanie Schilling For lenders who maintain perfected security interests in collateral, the Second Circuit’s recent decision in In Re Motors Liquidation Company, et al. will go down in history as a middle-of-the-night, sweat-inducing source of anxiety. For business owners and others who rely on lenders to fund their ventures, the decision reveals the mechanics of a transaction. The characters and documents