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J. CATTON FARMS v. FIRST NAT. BANK OF CHICAGO

No. 84-3074.

779 F.2d 1242 (1985)

In re J. CATTON FARMS, INC., Debtor-Appellant, v. The FIRST NATIONAL BANK OF CHICAGO, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided December 11, 1985.

Attorney(s) appearing for the Case

Barry M. Barash, Barash, Stoerzbach & Henson, Galesburg, Ill., for debtor-appellant.

Joseph G. Gavin, The First National Bank of Chicago, Chicago, Ill., for defendant-appellee.

Before CUDAHY and POSNER, Circuit Judges, and SWYGERT, Senior Circuit Judge.

POSNER, Circuit Judge.

The current financial crisis in the midwestern farm states is glimpsed from afar in this bankruptcy case. J. Catton Farms, Inc., a very large farming operation undergoing reorganization in bankruptcy, appeals from a judgment of the district court affirming an order by the bankruptcy judge directing Catton to pay more than $300,000 to First National Bank of Chicago. The ground of the order is that the bank had a secured interest in the proceeds...

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