Legal Opinion

In Re Hilyard Drilling Co., Inc., Debtor. Worthen Bank & Trust Company, N.A. v. Hilyard Drilling Co., Inc., National Bank of Commerce of El Dorado

Court of Appeals for the Eighth Circuit

Decided March 1, 1988No. 87-1045PublishedCited by 17 opinions

1Opinion of the Court

WOLLMAN, Circuit Judge.

Hilyard Drilling Co., Inc. (Hilyard) filed a Chapter 11 bankruptcy petition on January 25, 1985. At that time, Hilyard had debts outstanding to the National Bank of Commerce of El Dorado (NBC) and Worthen Bank & Trust Co., N.A. (Worthen), both secured by perfected security interests in Hilyard’s accounts receivable. NBC appeals from the district court’s 1 affirmance of the bankruptcy court’s 2 judgment that Worthen had a first-priority security interest in Hilyard’s accounts receivable under Arkansas law. We affirm.

I

On April 25, 1979, Hilyard granted NBC a security…

2Cases cited15 opinions

  1. Anderson v. City of Bessemer CitySupreme Court of the United States · 1985
  2. United States v. United States Gypsum Co.Supreme Court of the United States · 1948
  3. Gary D. Hanson, Sandra Kay Hanson v. First Bank of South Dakota, N.A.Court of Appeals for the First Circuit · 1987
  4. In the Matter of Chaseley's Foods, Inc., D/B/A Vic's Super Foods, Debtor. Appeal of Daniel L. Freeland, TrusteeCourt of Appeals for the Seventh Circuit · 1984
  5. Peoples National Bank v. Linebarger Construction Co.Supreme Court of Arkansas · 1951

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3Cited by17 opinions

  1. Curtis Lumber Co., Inc. v. Louisiana Pacific Corp.Court of Appeals for the Eighth Circuit · 2010
  2. First National Bank v. Minnesota Utility Contracting, Inc. (In Re Minnesota Utility Contracting, Inc.)District Court, D. Minnesota · 1990
  3. In Re: Dial Business Forms, Inc., Debtor. General Electric Capital Corporation v. Dial Business Forms, Inc. Paul D. Sinclair, as Trustee on Behalf of Class 3 Unsecured CreditorsCourt of Appeals for the Eighth Circuit · 2003
  4. American Cigar Co. v. MNC Commercial Corp. (In Re M. Paolella & Sons, Inc.)United States Bankruptcy Court, E.D. Pennsylvania · 1988
  5. In Re Dakota Rail, Inc.United States Bankruptcy Court, D. Minnesota · 1990

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