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Myers v. American Exchange Bank (In re Alvo Grain & Feed Inc.)

Myers v. American Exchange Bank (In re Alvo Grain & Feed Inc.)

Ruling
Lien avoided as improperly perfected under state law.
Procedural posture

Plaintiff bankruptcy trustee brought an adversary proceeding against defendant creditor seeking to avoid the creditor's lien against assets of a bankruptcy debtor on the ground that the lien was unperfected based on an incorrect name of the debtor in the financing statements filed by the creditor.

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Commercial opinion summary, case decided on November 20, 2009 , LexisNexis #0310-048