Logourl black
From our private database of 14,100+ case briefs...

Expeditors International of Washington, Inc. v. The Liquidating Trust

United States Bankruptcy Court for the District of Colorado
313 B.R. 473 (2004)


Facts

Expeditors International of Washington, Inc. (Expeditors) (defendant) was granted a security interest in all property owned by Schwinn Cycling and Fitness, Inc. (Schwinn) (plaintiff) that was under Expeditors’ possession or control. On July 16, 2001, Schwinn filed for bankruptcy under Chapter 11 of the United States Bankruptcy Code (Bankruptcy Code). During the weeks before Schwinn’s filing, Expeditors had some of Schwinn’s goods in its possession, which Expeditors returned to Schwinn and which Schwinn then sold. Under Uniform Commercial Code (UCC) § 9-313(a), Expeditors held an automatically perfected security interest through its possession of the goods. However, Expeditors failed to file a financing statement in connection with the goods within 20 days after returning the goods to Schwinn. Thereafter, Schwinn deposited the proceeds from the sale of the goods into a segregated cash-collateral fund. Expeditors claimed an interest in the fund based on its initial interest perfected by possession, arguing that Schwinn’s bankruptcy filing had converted Expeditors’ temporary 20-day interest into a permanent interest, which did not require the second type of perfection by either filing or possession ordinarily required by UCC § 9-312(h) in order to maintain perfection after expiration of the 20-day period.

Rule of Law

The rule of law is the black letter law upon which the court rested its decision.

To access this section, please start your free trial or log in.

Issue

The issue section includes the dispositive legal issue in the case phrased as a question.

To access this section, please start your free trial or log in.

Holding and Reasoning (Nottingham, J.)

The holding and reasoning section includes:

  • A "yes" or "no" answer to the question framed in the issue section;
  • A summary of the majority or plurality opinion, using the CREAC method; and
  • The procedural disposition (e.g. reversed and remanded, affirmed, etc.).

To access this section, please start your free trial or log in.

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.

Here's why 217,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 14,100 briefs, keyed to 189 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.