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P.T. BANK v. CHINESE AM. BANK

229 A.D.2d 224 (1997)

654 N.Y.S.2d 117

P.T. Bank Central Asia, Respondent, v. Chinese American Bank, Appellant, et al., Defendant

Appellate Division of the Supreme Court of the State of New York, First Department.

February 11, 1997

Attorney(s) appearing for the Case

Lawrence A. Maldelker of counsel, New York City (Robin Nelson Wolfe on the brief; Kantor, Davidoff, Wolfe, Mandelker & Kass, attorneys), for appellant.

Robert A. Zadek and Barry M. Benjamin of counsel, New York City (Buchalter, Nemer, Fields & Younger, attorneys), for respondent.

WALLACH, J. P., NARDELLI, WILLIAMS and ANDRIAS, JJ., concur.

RUBIN, J.

This dispute involves the procedures for filing and maintaining a recorded security interest under article 9 of the Uniform Commercial Code and presents a case of first impression in this jurisdiction. Central to its resolution is the interplay between UCC 9-401 (2) and 9-403 (2) governing, respectively, the effect of actual knowledge of a competing creditor's financing statement and the effect of...

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