LexisNexis ( January 25, 2019, 1:51 PM EST) -- UCC financing statements are effective for five years. Failure to file a continuation statement within six months before the five-year deadline renders the lender’s security interest unperfected. UCC 9-515(d). So what happens if the debtor files bankruptcy before the original financing statement lapses? In a notable bankruptcy decision from Maryland, the court ruled that post-petition lapse of a senior security interest financing statement did not alter the senior’s position because the filing of the debtor’s Chapter 11 bankruptcy petition “froze” the priority status of the senior lender as of that time....