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In re Together Development Corporation

United States Bankruptcy Court for the District of Massachusetts
227 B.R. 439 (1998)


Facts

Together Development Corporation (TDC) owned a trademark in Together Dating Service. Horace Trimarchi was a shareholder of TDC, who sold his shares in exchange for a promissory note for $200,000. The promissory note was secured by the trademark. The trademark was registered with the United States Patent Office. Trimarchi filed a financing statement with the Patent Office, rather than with the secretary of state. During the term of the promissory note, TDC filed for bankruptcy. TDC asserted that Trimarchi’s security interest was unperfected and claimed to have a superior interest, as a debtor in possession under Chapter 11 of the Bankruptcy Code. TDC filed a motion to sell its assets, including the trademark. An evidentiary hearing was then held to determine whether Trimarchi’s security interest was perfected.

Rule of Law

Issue

Holding and Reasoning (Queenan, J.)

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