Legal Opinion
American State Bank v. Marks (In Re MacNeil)
United States Bankruptcy Appellate Panel for the Ninth Circuit
Decided August 11, 1989No. BAP No. OR-88-1877-MeJMo, Bankruptcy No. 386-02740-S7PublishedCited by 7 opinions
1Per curiam
I
We are asked to review a decision which gave a superpriority claim arising during the course of a liquidation priority over competing claims which emanated from Section 507(b). We AFFIRM.
II
FACTS
Donald E. and Sharlee L. MacNeil (“Mac-Neils”) were in the business of selling and servicing recreational vehicles. They financed their inventory through American State Bank (“ASB”) and CIT Financial Services (“CIT”), giving each creditor a blanket security interest in the vehicles they floored. Shortly after filing for reorganization under Chapter 11, the MacNeils sold a vehicle from this inventory…
2Cases cited5 opinions
- In Re Codesco, Inc.United States Bankruptcy Court, S.D. New York · 1982
- In Re Windmill Farms, Inc., Debtor. Vanderpark Properties, Inc. v. David L. Buchbinder, Trustee of Windmill Farms Management Company, Inc.Court of Appeals for the Ninth Circuit · 1988
- In Re J.R. Research, Inc.United States Bankruptcy Court, D. Utah · 1986
- In Re Alchar Hardware Co., Inc. And Knight & Wall Co., Inc., Debtors. Jeanette E. Tavormina, Trustee v. Alan D. WeinerCourt of Appeals for the Eleventh Circuit · 1985
- In Re Roundwood Corp., Inc.United States Bankruptcy Court, D. South Carolina · 1987
3Cited by7 opinions
- In Re Lochmiller Industries, Inc.United States Bankruptcy Court, S.D. California · 1995
- In Re Donald MacNeil in Re Sharlee MacNeil Debtors. American State Bank Cit Financial Services, Inc. v. Thomas G. MarksCourt of Appeals for the Ninth Circuit · 1990
- Citibank, N.A. v. Transamerica Commercial Finance Corp. (In Re Sun Runner Marine, Inc.)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1991
- In Re Hers Cosmetics Corp.United States Bankruptcy Court, C.D. California · 1990
- In Re California Devices, Inc.United States Bankruptcy Court, N.D. California · 1991
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