Legal Opinion
In re Penrod
Court of Appeals for the Seventh Circuit
Decided March 22, 1995No. 94-3072PublishedCited by 100 opinions
1Opinion of the Court
POSNER, Chief Judge.
This appeal raises an issue of bankruptcy law that one might have supposed had been settled long ago. It is whether, when a plan of reorganization makes provision for the payment of a secured creditor’s claim but does not say whether the creditor’s security interest (lien) is extinguished, the security interest survives, in accordance with the old saw that “liens pass through bankruptcy unaffected.”
Hog farmers named Penrod executed a promissory note to Mutual Guaranty Corporation (actually to its predecessor, but we can ignore that detail) for $150,000, secured by the…
2Cases cited19 opinions
- Dewsnup v. TimmSupreme Court of the United States · 1992
- United States v. Security Industrial BankSupreme Court of the United States · 1982
- In the Matter of JAMES WILSON ASSOCIATES, Debtor. Appeals of METROPOLITAN LIFE INSURANCE COMPANYCourt of Appeals for the Seventh Circuit · 1992
- In Re Benjamin Pierce Simmons, Bankrupt. Benjamin Pierce Simmons v. J.T. SavellCourt of Appeals for the Fifth Circuit · 1985
- Long v. BullardSupreme Court of the United States · 1886
14 more not listed; retrieve them via the Exa API.
3Cited by100 opinions
- Ralph M. Cox, on Behalf of Himself and Others Similarly Situated v. Zale Delaware, Inc.Court of Appeals for the Seventh Circuit · 2001
- Richard M. Fogel, as Trustee for the Estate of Madison Management Group, Inc. v. Samuel Zell, Appeal of City and County of DenverCourt of Appeals for the Seventh Circuit · 2000
- Laura Anne Aiello v. Providian Financial Corp.Court of Appeals for the Seventh Circuit · 2001
- Bankr. L. Rep. P 77,399 in the Matter of June M. Heath, Debtor. Joseph M. Black, Trustee v. United States Postal ServiceCourt of Appeals for the Seventh Circuit · 1997
- Airadigm Communications, Inc. v. Federal Communications CommissionCourt of Appeals for the Seventh Circuit · 2008
95 more not listed; retrieve them via the Exa API.