In re EDM Corp.
United States Bankruptcy Appellate Panel for the Eighth Circuit
431 BR 459, 71 UCC Rep. Serv. 2d 876 (2010)
- Written by Samantha Arena, JD
Facts
EDM Corporation (debtor) sold and leased emergency vehicles. Although its official name of record was EDM Corporation, EDM was also known and did business as EDM Equipment. EDM filed for bankruptcy and had outstanding loans with a number of financial institutions, including Hastings State Bank (creditor). Hastings and two other creditors had competing liens in certain collateral and disputed the priority status of those liens. Hastings’s lien was created first and its financing statement was filed first. However, Hastings identified the debtor as “EDM Corporation d/b/a EDM Equipment” on the financing statement. The other creditors alleged Hastings’s financing statement failed to properly provide the debtor’s name as required and was seriously misleading. The other creditors argued Hastings’s lien was thus not perfected. The bankruptcy court held Hastings’s financing statement was insufficient, and EDM appealed.
Rule of Law
Issue
Holding and Reasoning (Federman, J.)
What to do next…
Here's why 807,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 46,300 briefs, keyed to 988 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.
