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Accounts receivable serve as an important source of collateral – indeed, receivables and other rights to payment represent the lifeblood of asset-based lending, securitizations and...
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...
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
New York State’s highest court recently dealt a big win for secured lenders holding accounts receivable as collateral. In Worthy Lending LLC v. New Style Contractors, Inc., the Court of...