LexisNexis ( September 17, 2021, 2:42 PM EDT) -- If a security interest in a piece of equipment becomes unperfected because of Secured Lender #1’s failure to file a continuation statement, does a competing secured lender who had filed later (Secured Lender #2) suddenly gain priority, even though #2 had actual knowledge of #1’s unperfected security interest? What if #1’s competitor is not another secured lender, but a lien creditor? Or an outright buyer of the equipment? In short, what role does #2’s knowledge of # 1 ’s unperfected security interest play in determining priority? A notable case from Massachusetts nicely frames the issue....