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IN RE HILYARD DRILLING CO., INC.

No. 87-1045.

840 F.2d 596 (1988)

In re HILYARD DRILLING CO., INC., Debtor. WORTHEN BANK & TRUST COMPANY, N.A., Appellee, v. HILYARD DRILLING CO., INC., National Bank of Commerce of El Dorado, Appellants.

United States Court of Appeals, Eighth Circuit.

Decided March 1, 1988.

Attorney(s) appearing for the Case

William Duke, Little Rock, Ark., for appellants.

Charles W. Baker, Little Rock, Ark., for appellee.

Before JOHN R. GIBSON, FAGG and WOLLMAN, Circuit Judges.

WOLLMAN, Circuit Judge.

Hilyard Drilling Co., Inc. (Hilyard) filed a Chapter 11 bankruptcy petition on January 25, 1985. At that time, Hilyard had debts outstanding to the National Bank of Commerce of El Dorado (NBC) and Worthen Bank & Trust Co., N.A. (Worthen), both secured by perfected security interests in Hilyard's accounts receivable. NBC appeals from the district court's1 affirmance of the bankruptcy court's

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