Legal Opinion
In Re National Financial Alternatives, Inc.
United States Bankruptcy Court, N.D. Illinois
Decided February 22, 1989No. 17-08408PublishedCited by 17 opinions
1Opinion of the Court
MEMORANDUM OF DECISION
EUGENE R. WEDOFF, Bankruptcy Judge.
The matters presently before the court raise, in the context of a Chapter 11 reorganization, a narrow, but unsettled issue regarding the reach of federal tax liens: whether accounts receivable acquired by a debtor more than 45 days after the filing of a notice of tax lien on the debtor’s property may be considered proceeds of contract rights or inventory acquired by the debtor prior to the expiration of that 45-day period, so that the security interest of a commercial creditor in the receivables has priority over the tax lien, pursuant…
2Cases cited12 opinions
- Klaxon Co. v. Stentor Electric Manufacturing Co.Supreme Court of the United States · 1941
- Glass City Bank v. United StatesSupreme Court of the United States · 1945
- In Re FrostDistrict Court, D. Kansas · 1985
- Rice Investment Company v. United StatesCourt of Appeals for the Fifth Circuit · 1980
- The State Bank of Fraser, Cross-Appellant v. United States of America, Cross-AppelleeCourt of Appeals for the Sixth Circuit · 1988
7 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Bremen Bank and Trust Company v. United StatesCourt of Appeals for the Eighth Circuit · 1997
- In Re WamplerUnited States Bankruptcy Court, D. Kansas · 2006
- In Re May Reporting Services, Inc.United States Bankruptcy Court, D. South Dakota · 1990
- Plymouth Savings Bank v. United States Internal Revenue Service and Massachusetts Department of RevenueCourt of Appeals for the First Circuit · 1999
- Dillard v. United States, Internal Revenue Service (In Re Dillard)United States Bankruptcy Court, N.D. Illinois · 1990
12 more not listed; retrieve them via the Exa API.