In re Cybernetic Services, Inc.
United States Court of Appeals for the Ninth Circuit
252 F.3d 1039 (2001)
Matsco, Inc. and Matsco Financial Corporation (Matsco) (plaintiff) had a security interest in a patent developed by Cybernetic Services, Inc. (Cybernetic) (defendant). Matsco recorded the security interest by filing a financing statement with the California Secretary of State. Subsequently, Cybernetic’s creditors filed an involuntary petition for bankruptcy against Cybernetic, which was granted. Matsco filed a motion in the bankruptcy court, seeking relief from the automatic stay in order to foreclose on its security interest. The bankruptcy trustee responded by arguing that the security interest was not perfected, because Matsco did not record the security interest in the United States Patent and Trademark Office (PTO). The bankruptcy court granted Matsco’s motion. The bankruptcy trustee appealed to the Bankruptcy Appellate Panel, which affirmed the bankruptcy court’s ruling. The bankruptcy trustee then appealed to the United States Court of Appeals for the Ninth Circuit.
Rule of Law
Holding and Reasoning (Graber, J.)
What to do next…
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.
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 175,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 14,000 briefs, keyed to 188 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.