Bankr. No.:
97-40908
Adv. No.:
97-4060
Chapter:
7
Date of Decision:
June 23, 1998
Issue:
Whether creditor had perfected secured interest in a vehicle where its lien was noted on the title but where the underlying security agreement described a different car that was of the same make and year?
Ruling:
Creditor did not have a perfected secured interest in the vehicle on which it had a lien notation on the title. Security interest never attached to that collateral because the security agreement described the wrong vehicle. The description in the security agreement did not merely have an error in the VIN for the correct vehicle.
Full Bankruptcy Court Decision:
