The Perils Of Commercial Tort Claims As Collateral

LexisNexis (March 1, 2017, 12:29 PM EST) -- A recent Mississippi bankruptcy court ruling underlines the perils of relying on commercial tort claims alone as a description of contract rights in secured lending.   In re  Mississippi Phosphates Corp., Adv. No. 16-06001-KMS (January 3, 2017).  The case does not involve a security interest in commercial tort claims.  But it involves contract rights based on commercial tort claims which are relevant to taking a security interest in these claims.

The Mississippi case.  Mississippi Phosphates filed bankruptcy and sold all of its assets pursuant to a sale...
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