Deere Credit, Inc. v. Pickle Logging, Inc.
United States Bankruptcy Court for the Middle District of Georgia
286 B.R. 181 (2002)
Pickle Logging (plaintiff/debtor) refinanced equipment with Deere Credit (defendant), but the financing statement and security agreement misidentified a 548G skidder as a "648G skidder" with a slightly altered serial number, even though the two models differed substantially in cost, appearance, and performance; when Pickle later filed for bankruptcy, it argued Deere never perfected a security interest in the actual 548G skidder given the mismatched description, and the bankruptcy court agreed, prompting Deere's motion for reconsideration.
Whether, under the Uniform Commercial Code, a financing statement's description of collateral must be sufficient to notify a potential purchaser of the prior interest.