OFFICIAL COMMITTEE v. JPMORGAN CHASE BANK

No. 325, 2014.

103 A.3d 1010 (2014)

OFFICIAL COMMITTEE OF UNSECURED CREDITORS OF MOTORS LIQUIDATION COMPANY, Plaintiff-Appellant, v. JPMORGAN CHASE BANK, N.A., Individually and as Administrative Agent for various lenders party to the Term Loan Agreement described herein, Defendant-Appellee.

Supreme Court of Delaware.

Decided: October 17, 2014.


Attorney(s) appearing for the Case

Norman M. Powell, Esquire , Elena C. Norman, Esquire , John J. Paschetto, Esquire , Richard J. Thomas, Esquire , Young Conaway Stargatt & Taylor, LLP, Wilmington, Delaware; Eric B. Fisher, Esquire (argued), Barry N. Seidel, Esquire , Katie L. Weinstein, Esquire , Dickstein Shapiro LLP, New York, New York; Jeffrey Rhodes, Esquire , Dickstein Shapiro LLP, Washington, District of Columbia, for Plaintiff-Appellant.

Gregory P. Williams, Esquire (argued), Brock E. Czeschin, Esquire , Susan M. Hannigan, Esquire , Richards, Layton & Finger, P.A., Wilmington, Delaware; John M. Callagy, Esquire , Nicholas J. Panarella, Esquire , Martin A. Krolewski, Esquire , Kelley Drye & Warren LLP, New York, New York; Steven O. Weise, Esquire , Proskauer Rose LLP, Los Angeles, California, for Defendant-Appellee.

Francis A. Monaco, Jr., Esquire , Ryan C. Cicoski, Esquire , Womble Carlyle Sandridge & Rice LLP, Wilmington, Delaware; Richard M. Kohn, Esquire , Jonathan N. Helfat, Esquire , Commercial Finance Association, for Amicus Curiae Commercial Finance Association.

Before STRINE, Chief Justice; HOLLAND and RIDGELY, Justices; LASTER, Vice Chancellor; and COONIN, Judge, constituting the Court en Banc.


I. INTRODUCTION

The United States Court of Appeals for the Second Circuit ("Second Circuit") has certified the following question of law important to a dispute pending before it:

Under UCC Article 9, as adopted into Delaware law by Del.Code Ann. tit. 6, art. 9, for a UCC-3 termination statement to effectively...

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