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Monday, March 14, 2016

WOLVERINE FLAGSHIP FUND TRADING LIMITED, ET AL. VS. AMERICAN ORIENTAL BIOENGINEERING, INC., ET AL. A-0654-14T1

 WOLVERINE FLAGSHIP FUND TRADING LIMITED, ET AL. VS. AMERICAN ORIENTAL BIOENGINEERING, INC., ET AL. 
A-0654-14T1 

Plaintiffs argue that the Chancery Division incorrectly interpreted Uniform Commercial Code 8-112, as adopted by this state at N.J.S.A. 12A:8-112, to require actual seizure of certificated shares owned by a debtor before a creditor can reach the debtor's interest in those shares. Having reviewed the arguments in light of the applicable law, we affirm the order of the Chancery Division.