Legal Opinion
In re Ferguson
Court of Appeals for the Seventh Circuit
Decided August 23, 2016No. 15-3093PublishedCited by 8 opinions
1Opinion of the Court
EASTERBROOK, Circuit Judge.
Jerry and Julie Ferguson proposed a plan to repay the debts on their family farm under Chapter 12 of the Bankruptcy Code. This appeal concerns two of those debts: (a) a loan of $300,000 from First Community Bank, secured by a mortgage on the farm plus a lien on the Fergusons’ farming equipment and crops, and (b) a loan of $176,000 from West Central FS, secured by a junior lien on the equipment and crops.
The bankruptcy judge approved a sale of the equipment and crops, which yielded $238,000. The Bank, as the senior creditor, demanded those proceeds. But West Central…
2Cases cited9 opinions
- Butner v. United StatesSupreme Court of the United States · 1979
- Taylor v. Freeland & KronzSupreme Court of the United States · 1992
- Bullard v. Blue Hills BankSupreme Court of the United States · 2015
- Schwab v. ReillySupreme Court of the United States · 2010
- Meyer v. United StatesSupreme Court of the United States · 1963
4 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Illinois Department of Revenue v. Hanmi BankCourt of Appeals for the Seventh Circuit · 2018
- Richard A. Hazelton v. Board of Regents for the UniveCourt of Appeals for the Seventh Circuit · 2020
- Edward Novotny, III v. Plexus CorporationCourt of Appeals for the Seventh Circuit · 2019
- Edward Novotny, III v. Plexus CorporationCourt of Appeals for the Seventh Circuit · 2019
- Illinois Department of Revenu v. First Community Financial BankCourt of Appeals for the Seventh Circuit · 2018
3 more not listed; retrieve them via the Exa API.