United States Second Circuit

In appeal from judgment reversing a Bankruptcy Court court finding that negative equity on a trade-vehicle is included in the purchase money security acompanying a new car's purchase and is therefore protected from cramdown by the Hanging Paragraph of Section 1325 of the Bankruptcy code, the court here certifies the question of whether negative equity is included in a purchase money security interest under state's interpretation of the Uniform Commercial code (UCC).

Appellate Information

• Decided 10/20/2008
• Published 10/20/2008

Judges

Court

• United States Second Circuit

Counsel