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IN RE BERING TRADER, INC.

No. 90-35870.

944 F.2d 500 (1991)

In re BERING TRADER, INC.; Kemp Pacific Fisheries, Inc., Debtors. PHILIP MORRIS CAPITAL CORPORATION, formerly known as Philip Morris Credit Corporation, Appellant, v. BERING TRADER, INC., William Friedhoff, Jr., Trustee of the Bering Trader, Inc., Bankruptcy Estate; Thomas Hansen, Trustee of the Kemp Pacific Fisheries, Inc. Bankruptcy Estate, Appellees.

United States Court of Appeals, Ninth Circuit.

Decided September 10, 1991.

Attorney(s) appearing for the Case

George E. Frasier, Riddell, Williams, Bullitt & Walkinshaw, Seattle, Wash., for plaintiff-appellant/cross-appellee.

Kristi M. Wallis, Culp, Guterson & Grader, Seattle, Wash., for defendants-appellees.

Before WRIGHT, BEEZER and WIGGINS, Circuit Judges.

EUGENE A. WRIGHT, Circuit Judge:

In this case we examine the scope of section 552 of the Bankruptcy Code, 11 U.S.C. § 552. In particular, we consider whether a prepetition security interest in accounts, general intangibles and proceeds may extend to rents received postpetition under a vessel subcharter. The Bankruptcy Appellate Panel (BAP) affirmed the bankruptcy court's judgment that Philip Morris Credit Corporation's prepetition security interest did not extend...

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