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WORTHY LENDING v. NEW STYLE

No. 86.

39 N.Y.3d 99 (2022)

201 N.E.3d 783

2022 NY Slip Op 06631

WORTHY LENDING LLC, Appellant, v. NEW STYLE CONTRACTORS, INC., Respondent.

Court of Appeals of New York.

Decided November 22, 2022.

Attorney(s) appearing for the Case

Otterbourg P.C., New York City ( Richard G. Haddad , William M. Moran and Alessandra M. Dagirmanjian of counsel), for appellant.

Jaffe & Asher LLP, New York City ( Glenn P Berger , Lawrence M. Nessenson and Gregory E. Galterio of counsel), for respondent.

Parker, Hudson, Rainer & Dobbs LLP, Atlanta, Georgia ( John C. Wright , William J. Holley, II , admitted pro hac vice, and Bryan E. Bates , admitted pro hac vice, of counsel), for The Secured Finance Network, amicus curiae.

OPINION OF THE COURT

We are called upon to determine whether, for purposes of New York's Uniform Commercial Code § 9-406, an "assignee" includes the holder of a presently exercisable security interest in an assignor's receivables. We hold that it does. Under UCC 9-406, a security interest is an assignment and the UCC is...

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