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In re Milton Abeles LLC

In re Milton Abeles LLC

Ruling
Creditor could not claim interest in property in which it did not have a perfected security interest on petition date.
Issue(s)
Did creditor have a secured claim in the settlement proceeds of an avoidance proceeding based on a prepetition security interest in debtor's assets.

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Commercial opinion summary, case decided on September 20, 2013 , LexisNexis #1013-022