Legal Opinion
Bank of America, N.A., Creditor-Appellant v. Alex D. Moglia, Trustee-Appellee
Court of Appeals for the Seventh Circuit
Decided June 2, 2003No. 02-2517PublishedCited by 54 opinions
1Opinion of the Court
POSNER, Circuit Judge.
Outboard Marine Corporation is in Chapter 7 bankruptcy, and among its holdings are the assets, currently worth some $14 million, in what is known as a “rabbi trust.” Bank of America, as the agent of Outboard’s secured creditors, claims a security interest in these assets, while the trustee in bankruptcy claims them for the unsecured creditors. The security agreement on which Bank of America relies covers all Outboard’s “general intangibles,” a term of great breadth in commercial law, see UCC § 9-102(a)(42) and official comment 5(d), and broadly defined in the agreement…
2Cases cited28 opinions
- Salve Regina College v. RussellSupreme Court of the United States · 1991
- Dewsnup v. TimmSupreme Court of the United States · 1992
- United States v. Munsey Trust Co.Supreme Court of the United States · 1947
- Diane Colby, on Her Own Behalf and That of All Other Persons Similarly Situated v. J.C. Penney Company, Inc.Court of Appeals for the Seventh Circuit · 1987
- Dennis Anderson v. Gilberto Romero and Arthur DouglasCourt of Appeals for the Seventh Circuit · 1995
23 more not listed; retrieve them via the Exa API.
3Cited by54 opinions
- Travertine Corp. v. Lexington-SilverwoodSupreme Court of Minnesota · 2004
- Confold Pacific, Inc. v. Polaris Industries, Inc.Court of Appeals for the Seventh Circuit · 2006
- Zedan v. HabashCourt of Appeals for the Seventh Circuit · 2008
- In Re: Doctors Hospital of Hyde Park, Inc., Debtor. Appeal Of: Daiwa Special Asset CorporationCourt of Appeals for the Seventh Circuit · 2003
- United States v. Curtis BarnettCourt of Appeals for the Seventh Circuit · 2005
49 more not listed; retrieve them via the Exa API.