1. Home
  2. Browse Decisions
  3. B.R.
  4. 103 B.R.
  5. 103 B.R. 166 (1988)
 

IN RE PAYNE & HADDOCK, INC.

Bankruptcy No. 1-87-01803, Adv. No. 1-87-0227.

103 B.R. 166 (1988)

In re PAYNE & HADDOCK, INC., Debtor. Thomas E. RAY, Trustee, Plaintiff, v. AMERICAN NATIONAL BANK & TRUST COMPANY, Defendant.

United States Bankruptcy Court, E.D. Tennessee.

December 23, 1988.

Attorney(s) appearing for the Case

Thomas E. Ray of Ray & North, P.C., Chattanooga, Tenn., for plaintiff.

Shelley D. Rucker of Miller & Martin, Chattanooga, Tenn., for defendant.

MEMORANDUM

RALPH H. KELLEY, Chief Judge.

This adversary proceeding raises a complicated question about the right of a junior lienholder to require the holder of a senior lien to marshal its collateral.

The defendant, American National Bank, made a loan to the debtor secured by equipment and accounts receivable. The debt currently is $25,540.66. The bank made the debtor a second loan secured only by accounts receivable. The second secured debt now...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases