Legal Opinion
Ollag Construction Equipment Corp. v. Goldman
Court of Appeals for the Second Circuit
Decided June 26, 1978No. Nos. 1003, 1204, Dockets 78-5020, 78-5022PublishedCited by 1 opinion
1Opinion of the Court
IRVING R. KAUFMAN, Chief Judge:
When financial storms rage, unsecured creditors take on collateral as ballast. The security thus gained is often tenuous, however, for if bankruptcy is involved, it may be dissolved by the trustee’s challenge. In this case, we are called upon to decide whether Manufacturers & Traders Trust Company (“the Bank”) may enforce a security interest in the property of the bankrupt Ollag Construction Equipment Corp. (“Ollag”), or whether, as Ollag’s trustee contends, the Bank’s claim is a voidable preference under § 60 of the Bankruptcy Act.1 Since we believe that the…
2Cases cited16 opinions
- Kelley v. Everglades Drainage DistrictSupreme Court of the United States · 1943
- Alan B. Miller, Trustee in Bankruptcy of American Ibc Corp., Bankrupt v. Wells Fargo Bank International Corp.Court of Appeals for the Second Circuit · 1976
- In the Matter of Hygrade Envelope Corp., Bankrupt. Samuel S. Baranow, Trustee in Bankruptcy of Hygrade Envelope Corp. v. Gibraltar Factors Corp.Court of Appeals for the Second Circuit · 1966
- Joseph Cohen, as Trustee in Bankruptcy of New York Investors Mutual Group, Inc., Bankrupt v. Ida SutherlandCourt of Appeals for the Second Circuit · 1958
- Miller v. Wells Fargo Bank International Corp.District Court, S.D. New York · 1975
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3Cited by1 opinion
- Ollag Construction Equipment Corp. v. GoldmanCourt of Appeals for the Second Circuit · 1978