Delaware Supreme Court Rules Mistake in Termination of $1.5B J.P. Morgan Loan Stands Under UCC

Posted by Arlin Crisco on Oct 23, 2014 2:58:00 PM

The Delaware Supreme Court has found that a mistake in a UCC-3 termination statement does not invalidate the document under the state's Uniform Commercial Code. The decision, on a certified question from the United States Court of Appeals for the Second Circuit, and after oral arguments broadcast by CVN, affects a nearly $1.5 billion loan by J.P. Morgan to the former General Motors. In re Motors Liquidation Co.

Read More

Topics: UCC, CVN National, News, In Re Motors Liquidation Co.