Legal Opinion
Whayne Supply Co. v. Commonwealth Revenue Cabinet
Kentucky Supreme Court
Decided June 20, 1996No. 95-SC-490-DGPublishedCited by 3 opinions
1Opinion of the Court
GRAVES, Justice.
Whayne Supply Company, Inc. (hereinafter “Whayne”) appeals from a decision entered by the Court of Appeals declaring that a prior filed state tax hen under KRS 134.420(2) has priority in proceeds of collateral over a purchase money security interest in the same collateral (hereinafter “PMSI”) filed under KRS 355.9-101.
The facts of the case are not in dispute. On June 11, 1990, Panbowl Energy, Inc. (hereinafter “Panbowl”) exercised an option and purchased a Gardner Denver GD4SC Drill from Whayne. The purchase price of the equipment was $232,372.64; Panbowl paid $11,500.00 as a…
2Cases cited1 opinion
- Francis J. Vereyken and Patricia M. Vereyken v. Annie's Place, Inc., State of Michigan, United States of America, Internal Revenue ServiceCourt of Appeals for the Sixth Circuit · 1992
3Cited by3 opinions
- Wells Fargo Bank, Minnesota, N.A. v. CommonwealthKentucky Supreme Court · 2011
- American General Financial Services, Inc. v. CarterCourt of Appeals of Kansas · 2008
- Gary Willingham v. Gallatin Group, Inc.Court of Appeals of Tennessee · 2001