Mistaken Termination Statements Can Wipe Out Security Interests

LexisNexis (May 5, 2020, 5:24 PM EDT) -- In recent years, we have observed the remarkable fallout of the GM bankruptcy, including the titanic battle between secured and unsecured creditors arising out of a mistaken termination statement that related to the wrong loan. Another notable case wipes out the security interest of a small community bank resulting from a mistaken termination statement....