What is stark status in peters bankruptcy


Peters Co. repairs computers. On feburary 9, 1991, Stark Electronic Corp sold Peters a circuit tester on credit. Peters executed an installment note for the purchase price, a security agreement covering the tester, and a financing statemtent that Stark filed on Feburary 11,1991. On April 13, 1991, creditors other than Stark filled an involuntary petition in bankruptcy against Peters. What is Stark's status in Peters bankruptcy

a) Stark will be treated as an unsecured creditor because Stark did not join in the filing against Peters

B) Stark's security u=interst constituses a voidable preference because the financing statement was not filed until Feb. 11

c) Stark's security interes constitutes a voidable preference because the financing statement was filed within 90 days before the bankruptcy processing was filed

d) Stark is a secured creditor and can assert a claim to the circuit tester that will be suoerior to the claims of Peter's other creditors

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Accounting Basics: What is stark status in peters bankruptcy
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