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Commercial Law Keyed to Zierdt, 1st Ed.
Gold v. Pasternak (In re Harvey Goldman & Co.)
Citation:
455 B.R. 621 (2011)Facts
Harvey Goldman & Company was formed as a Michigan corporation in 1947. In 1991, the corporation filed a certificate of assumed name with the State of Michigan to transact business under the name “Worldwide Equipment Company.” On January 3, 2007, the Abraham and Geraldine Pasternak Irrevocable Living Trust filed a UCC-1 financing statement with the Michigan Secretary of State identifying the debtor as “World Wide Equipment Co.” (not identical to the registered assumed name) and claiming a security interest in the debtor’s inventory to secure a $650,000 loan. After an involuntary Chapter 7 petition was filed against the debtor in 2010, the Trustee conducted a UCC search under the corporate name “Harvey Goldman & Company,” which did not reveal the defendant’s financing statement. The Trustee then sought to avoid the defendant’s security interest under § 544(a) of the Bankruptcy Code.
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