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Legal Opinion

Gillie v. First State Bank of Morton (In Re Gillie)

United States Bankruptcy Court, N.D. Texas

Decided February 17, 1989No. 19-40871PublishedCited by 10 opinions

1Opinion of the Court

MEMORANDUM OF OPINION ON PURCHASE MONEY LIEN

JOHN C. AKARD, Bankruptcy Judge.

Issue

Does refinancing a purchase money loan by issuing a new loan destroy the purchase money nature of the original security interest for purposes of Bankruptcy Code § 522(f)? 1

Facts

First State Bank, Morton (Bank), advanced cash to Mrs. Gillie to purchase household furniture. On June 19, 1985, Mrs. Gillie signed a note in the amount of $6,370.92 payable to the Bank in 36 monthly installments of $176.97 each. The note represented $4,600.00 paid to Mrs. Gillie, credit life and credit health and accident premiums in the…

2Cases cited22 opinions

  1. Manuel v. PierceCourt of Appeals for the Fifth Circuit · 1975
  2. Matter of JonesUnited States Bankruptcy Court, M.D. North Carolina · 1980
  3. In the Matter of Robert Henry Allen, Jr., and Mary Lou Allen, Debtors. Robert Henry Allen, Jr., and Mary Lou Allen v. Hale County State BankCourt of Appeals for the Fifth Circuit · 1984
  4. Pristas v. Landaus of Plymouth, Inc.Court of Appeals for the Third Circuit · 1984
  5. In Re MatthewsCourt of Appeals for the Ninth Circuit · 1984

17 more not listed; retrieve them via the Exa API.

3Cited by10 opinions

  1. In Re TrejosUnited States Bankruptcy Court, D. Nevada · 2006
  2. Matter of WiegertUnited States Bankruptcy Court, D. Nebraska · 1991
  3. Hrncirik v. Farmers National Bank of Seymour (In Re Hrncirik)United States Bankruptcy Court, N.D. Texas · 1992
  4. In Re HatfieldUnited States Bankruptcy Court, C.D. Illinois · 1990
  5. Snap-On Tools Corp. v. Freeman (In Re Freeman)District Court, N.D. Alabama · 1991

5 more not listed; retrieve them via the Exa API.

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