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Is a Lender "Worthy" of Direct Payment on Accounts Receivable Owing to Its Debtor? The New York Court of Appeals Settles This Question. | K&L Gates LLP - Vimarsana News

Is a Lender "Worthy" of Direct Payment on Accounts Receivable Owing to Its Debtor? The New York Court of Appeals Settles This Question. | K&L Gates LLP

Published: May 19, 2023

A recent New York Court of Appeals case, Worthy Lending LLC v. New Style Contractors, Inc., highlights the importance of maintaining best practices in transactions where the lender...

Source: jdsupra.com
Related Topics:
New YorkUnited StatesWorthy LendingCheckmate Communications BorrowerStyle Contractors IncKl GatesYork CourtNew York CourtStyle ContractorsCheckmate CommunicationsRogue DebtorUniform CommercialNew York Uniform Commercial Code
Is a Lender "Worthy" of Direct Payment on Accounts Receivable Owing to Its Debtor? The New York Court of Appeals Settles This Question - Vimarsana News

Is a Lender "Worthy" of Direct Payment on Accounts Receivable Owing to Its Debtor? The New York Court of Appeals Settles This Question

Published: May 18, 2023

Worthy Lending v New Style Contractors New York Court Appeals held Worthy lender with a security interest in the accounts of a borrower Checkmate Communications entitled to payment on Borrower’s pledged accounts regardless of whether or not an event of default existed Worthy Filed UCC 1

Source: natlawreview.com
Related Topics:
New YorkUnited StatesYork CourtWorthy LendingStyle Contractors IncCheckmate Communications BorrowerNew York CourtStyle ContractorsWorthy CaseCheckmate CommunicationsRogue DebtorAre Some Best PracticesUniform CommercialNew York Uniform Commercial CodeNy Ucc Law 9 406ny 607New York Uniform Commercial CodeOrthy Lending Llcv New Style ContractorsCc 1 Financing Statement Perfect Security Interest