Legal Opinion
In the Matter of Leland G. Schmaling and Mary F. Schmaling, Debtors. Appeal of Esther J. Schmaling, Leland G. Schmaling and Mary F. Schmaling
Court of Appeals for the Seventh Circuit
Decided February 18, 1986No. 85-1547PublishedCited by 51 opinions
1Opinion of the Court
CUDAHY, Circuit Judge.
In this case, we consider whether com received under the federal government’s Payment-in-Kind (“PIK”) program — under which farmers receive surplus grain in exchange for an agreement not to plant their intended crop — constitute crop “proceeds” under the Uniform Commercial Code. The Bankruptcy Court for the Northern District of Illinois determined that PIK payments are proceeds and the District Court affirmed. We reverse.
Leland and Mary Schmaling (the “Schmalings” or the “debtors”) are farmers in Jo Daviess and Carroll Counties, Illinois. On May 5, 1982, the Schmalings…
2Cases cited16 opinions
- In Re Dwayne Sunberg, Patricia Sunberg, Engaged in Farming, DebtorsCourt of Appeals for the Eighth Circuit · 1984
- In the Matter of William Guy Munger, Bankrupt. Ernest J. Pombo v. Jack A. Ulrich, TrusteeCourt of Appeals for the Ninth Circuit · 1974
- In Re J. Catton Farms, Inc., Debtor-Appellant v. The First National Bank of ChicagoCourt of Appeals for the First Circuit · 1985
- First State Bank of Abernathy v. Holder (In Re Nivens)United States Bankruptcy Court, N.D. Texas · 1982
- In Re KruseUnited States Bankruptcy Court, D. Kansas · 1983
11 more not listed; retrieve them via the Exa API.
3Cited by51 opinions
- In Re Scotty Lee Schneider and Anna Lucille Schneider, Debtors. Scotty Lee Schneider & Anna Lucille Schneider v. Edward J. Nazar, TrusteeCourt of Appeals for the Tenth Circuit · 1988
- Metropolitan Life Insurance v. American National Bank & Trust Co.Appellate Court of Illinois · 1997
- In Re WeylandUnited States Bankruptcy Court, E.D. Wisconsin · 1986
- Rainier National Bank v. BachmannWashington Supreme Court · 1988
- In Re WatersUnited States Bankruptcy Court, N.D. Iowa · 1988
46 more not listed; retrieve them via the Exa API.