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Case Citations [1] (July 2018 through April 2019)

handle is hein.ali/relwsec0588 and id is 1 raw text is: SECURITY DIVISION I. PERSONAL PROPERTY AS SECURITY CHAPTER 2. POSSESSORY LIENS § 80. Surrender of Possession by Possessory Lienor to the Bailor N.D.I11.2018. Subsecs. (3) and (4) and com. (d) cit. in disc. Chapter 11 debtor filed a motion to enforce an automatic stay against city, which had previously immobilized and impounded his vehicle based on his failure to pay tickets for parking and automatic red-light violations, alleging that city improperly retained possession of his vehicle after he filed for bankruptcy. This court granted debtor's motion, holding that city violated the automatic stay by refusing to return debtor's car. The court reasoned, in part, that city's continued retention of debtor's vehicle was not an act to continue or maintain the perfection of its lien that was excepted from the operation of the automatic stay. The court noted that, while city's interest required possession to remain perfected under Restatement of Security § 80, a passive retention of estate property was not an act to maintain or continue the perfection of interest in property. In re Peake, 588 B.R. 811, 825. N.D.Ill.Bkrtcy.Ct.2018. Com. (c) quot. in ftn., cit. in case cit. in ftn. Chapter 13 debtor filed a lawsuit against city, alleging that city withheld plaintiff s car and declared itself plaintiff s secured creditor in violation of plaintiff s Chapter 13 automatic stay. This court entered judgment for plaintiff, holding, inter alia, that defendant was prevented by the automatic stay from withholding plaintiff s vehicle. The court cited Restatement of Security § 80 in refuting defendant's contention that its lien on the vehicle could be eliminated if the vehicle was involuntarily surrendered, because a lien on property that was involuntarily lost remained attached, even if bona fide third parties subsequently acquired it. In re Shannon, 590 B.R. 467, 489. DIVISION II. SURETYSHIP CHAPTER 6. COSURETYSHIP AND SUBSURETYSHIP § 146. Determination of the Relation Between Sureties D.Neb.2018. Cit. in case cit. in sup. After a subcontractor on a project for the construction of a permanent modular office building went bankrupt, surety for subcontractor sued surety for general contractor, alleging that it was entitled to recover under defendant's bond as assignee of sub- subcontractor's claims against general contractor. This court granted summary judgment for defendant, holding that plaintiff could not recover under defendant's bond, because plaintiff, as surety for the bankrupt subcontractor, was the principal surety for sub-subcontractor's claims against general contractor and had the primary obligation to pay such claims. The court reasoned that plaintiff s novel theory of recovery under defendant's bond would undermine principles of surety law as set forth in Restatement of Security §§ 146 and 147 and deprive general contractor and subcontractor of the COPYRIGHT 02019 By THE AMERICAN LAW INSTITUTE All rights reserved AgI Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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