| 6. Judicial Enforcement. Under subsection (a) [Maine cite |
subsection (1)] a secured party may reduce its claim to judgment |
or foreclose its interest by any available procedure outside this |
Article under applicable law. Subsection (e) [Maine cite |
subsection (5)] generally follows former Section 9-501(5). It |
makes clear that any judicial lien that the secured party may |
acquire against the collateral effectively is a continuation of |
the original security interest (if perfected) and not the |
acquisition of a new interest or a transfer of property on |
account of a preexisting obligation. Under former Section 9- |
501(5), the judicial lien was stated to relate back to the date |
of perfection of the security interest. Subsection (e) [Maine |
cite subsection (5)], however, provides that the lien relates |
back to the earlier of the date of filing or the date of |
perfection. This provides a secured party who enforces a |
security interest by judicial process with the benefit of the |
"first-to-file-or-perfect" priority rule of Section 9-322(a)(1) |
[Maine cite section 9-1322, subsection (1), paragraph (a)]. |