SEABOARD ALLIED MILLING CORPORATION v. UNSECURED CREDITORS' COMMITTEE

No. 82-3607.

719 F.2d 808 (1983)

SEABOARD ALLIED MILLING CORPORATION, Plaintiff-Appellant, v. UNSECURED CREDITORS' COMMITTEE, ADM Milling Company and Archer Daniels Midland Company, Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

November 14, 1983.


Attorney(s) appearing for the Case

Landwehr, Hof & Smetherman, Ronald J. Hof, New Orleans, La., for plaintiff-appellant.

Charles N. Malone, Baton Rouge, La., Edward M. Heller, New Orleans, La., for Unsecured Creditors' Committee.

Joseph E. Friend, New Orleans, La., Seago, Patrick & Carmichael, Barry W. Miller, Baton Rouge, La., for ADM Milling Co. and Archer Daniels Midland Co.

Before GEE, GARZA and TATE, Circuit Judges.


GEE, Circuit Judge:

Seaboard Allied Milling Corp. ("Seaboard") appeals the disallowance of its claims against Wolf Bakery ("Wolf") by the bankruptcy court which was subsequently affirmed by the district court. We reverse and remand for proceedings consistent with this opinion.

On February 28, 1980, Wolf and Seaboard executed a security agreement and statement of assignment which assigned all accounts generated from...

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