Ostrander v. Gardner (In re Milivision Inc.)

Pre 2005-Act: 
Pre 2005-Act
Ruling: 
Creditor's postpetition recording of financing statement did not relate back to date of loan.
Procedural posture: 
Appellant lenders made a loan to debtor. The next day, debtor's creditors filed an involuntary chapter 11 petition. Unaware of the bankruptcy petition, appellants did not record a financing statement relating to their loan until five days after the loan was made. The bankruptcy court permitted the trustee to invoke 11 U.S.C. § 547, the "strong-arm" provision, to avoid appellants'interest in debtor's assets. They appealed.
Issue: 
ABI Membership is required to access the full summary of Ostrander v. Gardner (In re Milivision Inc.). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member