I'm a reasonably intelligent guy. Familiar with a lot of sophisticated legal jargon.
But even my eyes glazed over when I read Justice Grimes' summary of today's opinion:
"The question in this interpleader action is which adverse
claimant was entitled to the interpleaded funds: a judgment
creditor with a properly recorded judgment lien, or an assignee
who did not file a financing statement with respect to
distributions irrevocably assigned to it by the judgment debtor
before the judgment lien was recorded. The answer depends on
whether the assignment created a security interest that had to be
perfected (but was not) by the filing of a financing statement
under California’s Uniform Commercial Code (UCC or the Code)."
Not exactly the most exciting legal thriller ever invented.
** Spoiler Alert **
Respondent wins.
