Professor Margit Livingston on Bankruptcy and Lapse of Perfection under U.C.C. Article 9 (PDF)
It is incumbent upon secured parties to file continuation statements within the six-month period before the expiration of their financing statements to ensure continued perfection. In a recent bankruptcy case, a secured creditor narrowly averted disaster when it let its financing statement lapse after the debtor had filed a petition in bankruptcy.
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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