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Legal Opinion

Hazen First State Bank v. Phillip Speight, Small Business Administration

Court of Appeals for the First Circuit

Decided November 1, 1989No. 89-1675PublishedCited by 17 opinions

1Opinion of the Court

LAY, Chief Judge.

Hazen First State Bank (Bank) appeals from an order of the district court 1 denying their motion for summary judgment and granting the Small Business Administration’s (SBA) motion for summary judgment on the Bank’s claim for priority status as to the proceeds of the sale of certain farm machinery formerly owned by Phillip Speight. We affirm.

I. Background

This dispute is between two creditors over which party has first priority to the proceeds of collateral where both had a perfected security interest. In order to secure a promissory note received from Speight, SBA took a…

2Cases cited8 opinions

  1. Norwest Bank Worthington v. AhlersSupreme Court of the United States · 1988
  2. Gerald W. Moody, and Jermoo's Incorporated, Debtors-In-Possession, Plaintiffs v. Amoco Oil CompanyCourt of Appeals for the Seventh Circuit · 1984
  3. In Re Joan Morton, Debtor. Joan Morton v. National Bank of New York CityCourt of Appeals for the Second Circuit · 1989
  4. In Re Hunters Run Limited Partnership, Debtor. Miner Corporation, and John Hand, Dba/sunny Day Cement Company v. Hunters Run Limited PartnershipCourt of Appeals for the Ninth Circuit · 1989
  5. Maiona v. Vassilowitch (In Re Vassilowitch)United States Bankruptcy Court, D. Massachusetts · 1987

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3Cited by17 opinions

  1. United States v. CozzettiCourt of Appeals for the Ninth Circuit · 1971
  2. C.H. Robinson Co. v. Paris & Sons, Inc.District Court, N.D. Iowa · 2001
  3. Merchants & Farmers Bank of Dumas, Ark. v. HillDistrict Court, E.D. Arkansas · 1990
  4. In Re: Hoffinger Industries, Inc., Debtor. Leesa Bunch, Creditor-Appellant v. Hoffinger Industries, Inc., Doing Business as Doughboy Recreational Company, Doing Business as Lomart Industries, Doing Business as Environmental Products and Research, Inc., Doing Business as Prest Metals, Doing Business as Pools & Accessories Unlimited, Inc. Debtor-AppelleeCourt of Appeals for the Eighth Circuit · 2003
  5. Williams v. EMC Mortgage Corp. (In Re Williams)United States Bankruptcy Court, E.D. Pennsylvania · 2002

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