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  3. 1. you represent diamond head national bank, which

1. You represent Diamond Head National Bank, which holds a first security interest against some...

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Accounting

1. You represent Diamond Head National Bank, which holds a first security interest against some mobile equipment owned by Henry Walker, securing a debt in the amount of $270,000. The bank perfected by filing a financing statement against Walker in the state of his principal residence. Walker is current on his payments. Diamond Head considers the loan safe because, even at a sheriff's auction sale, the bank is confident the equipment would bring at least $400,000. From friends at the Club, you have heard that Walker is in financial difficulty and the holder of some kind of second lien is forcing a sale of the equipment.

a.) If this information is correct, is there any reason for Diamond Head to be concerned? UCC sections 9-611(c), 9-617(b), 9-625(b)

b.) Can Diamond Head protect its position by purchasing the equipment at the sale? UCC section 9-615(a)

c.) Can Diamond Head prevent the sale? UCC sections 9-609(a), 9-401

d.) Assuming that the creditor forcing the sale was an Article 9 secured party, was Diamond Head entitled to receive notice of this sale? UCC section 9-611

PLEASE NEED IMMENSE HELP ON THIS!!!!! ANSWER EVERY PART WITH EXPLANATION :)

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