In re Cam Trucking LLC

84 UCC Rep. Serv. 2d 588 (2014)

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In re Cam Trucking LLC

United States Bankruptcy Court for the District of Arizona
84 UCC Rep. Serv. 2d 588 (2014)

RW

Facts

Cam Trucking LLC (Cam) used its trucks, which were titled in Arizona, to secure a loan from Auto Title Loans USA, LLC (ATLU) (plaintiff). Transwest Truck Trailer RV (Transwest) (defendant) was repairing the trucks in Colorado when Cam declared bankruptcy. ATLU asserted the priority of its Arizona perfected security interest in the trucks over Transwest’s Colorado possessory lien on the trucks. Both parties agreed that Arizona’s law for prioritizing competing security interests governed the case. Transwest argued that Arizona law would apply § 9-333 of the Uniform Commercial Code (UCC) and accord priority to Transwest’s possessory lien. The bankruptcy court took Transwest’s argument under advisement.

Rule of Law

Issue

Holding and Reasoning (Ballinger, J.)

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