(438) The legislative history simply deepens the mystery, according to which the amendment "prevents the avoidance of unperfected liens
against a bona fide purchaser, if the purchaser qualifies as such under section 6323 of the Internal Revenue Code or a similar provision under state or local law." H.R.
The programme is to help auto finance providers avoid potential losses due to title exceptions from the liens they fund through their network of dealers.According to Larry Highbloom, president of VINtek, 'The Dealer Monitoring Program reduces and prevents the accumulation of unperfected liens
for auto finance lenders of all sizes.
This means that upon the bankruptcy filing, a debtor, or a creditors' committee (in Chapter 11), may act as a hypothetical judgment lien creditor with the ability to unseat prior, unperfected liens
. With the assignment of the avoidance powers by the debtor or trustee, a creditors' committee may use the "strong arm" powers to unseat the creditor's alleged lien.