Professor Margit Livingston on Article 9 Secured Parties vs. Lien Creditors Post-Default (PDF)
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Secured parties under U.C.C. Article 9 have a love-hate relationship with the cash proceeds of their collateral. In a recent case involving garnishment of accounts receivable by a lien creditor (i.e., cash transfers), the secured party was able to prevail over the lien creditor by persuading the court to adopt the "trace and recapture" approach to the transfers that were made post-default.
Margit Livingston is Professor of Law, DePaul University College of Law.
Professor Livingston's primary areas of specialization are intellectual property, commercial law, animal law, and remedies. She has co-authored a book on tidal and coastal law and published numerous articles and book chapters on various subjects, including secured transactions, public rights in coastal properties, professional ethics, copyright, animal welfare, and criminal and civil contempt. She has been a visiting professor of law at William and Mary, Fordham, and the University of Illinois, and she is a graduate of the renowned Second City Training Program for Improvisational Comedy. She has received several awards for her teaching and scholarship, including the University Excellence in Teaching Award (2008) and the College of Law Faculty Achievement Award (2010). She earned her M.A. (Theatre Arts) and J.D. from the University of Minnesota and her LL.M. from the University of Illinois.
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