LexisNexis ( August 1, 2017, 1:35 PM EDT) -- Over the last eight years, this newsletter has included numerous stories about the colossal filing error that inadvertently terminated the perfected status of a $1.5 billion secured loan. The saga began with an error made by a paralegal at the Mayer Brown firm, which was counsel to the borrower, General Motors. Drafts of the closing documents (which terminated the wrong loan) were circulated and reviewed not only by Mayer Brown, but also by counsel for JP Morgan (Simpson Thacher), the lead lender in the syndicate. After much litigation regarding whether the erroneous filing of a termination statement was "authorized" and effective under Article 9 of the UCC, the Second Circuit (nudged by the Delaware Supreme Court) ruled that the filing was in fact authorized even though it mistakenly referred to the wrong loan. ...