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LAMP FAIR, INC. v. PEREZ-ORTIZ

Nos. 88-1333, 88-1334.

888 F.2d 173 (1989)

LAMP FAIR, INC., Plaintiff, Appellee, v. Pedro V. PEREZ-ORTIZ, et al., Defendants, Appellants. LAMP FAIR, INC., Plaintiff, Appellant, v. Pedro V. PEREZ-ORTIZ, et al., Defendants, Appellees.

United States Court of Appeals, First Circuit.

Decided October 25, 1989.

Attorney(s) appearing for the Case

David Efron with whom Rolando A. Silva and Bernardo Vazquez, Rio Piedras, P.R., were on brief for Lamp Fair, Inc.

Jorge P. Sala with whom Law Offices of Jorge P. Sala, San Juan, P.R., was on brief for Pedro V. Perez-Ortiz, et al.

Before BREYER, REINHARDT, and TORRUELLA, Circuit Judges.

BREYER, Circuit Judge.

Does Article 9 of the Uniform Commercial Code permit a secured creditor, over the objection of the debtor, both to retain collateral for the creditor's own use and also to obtain a deficiency judgment? We believe that, in the circumstances of the present case, the answer is "no." Accordingly, we reverse the judgment of the district court.

I.

Relevant Background Facts

The plaintiff in this diversity case, Lamp...

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