1. Home
  2. Browse Decisions
  3. F.3d
  4. 611 F.3d
  5. 611 F.3d 1158 (2010)
 

IN RE PENROD

No. 08-60037.

611 F.3d 1158 (2010)

In re Marlene A. PENROD, Debtor. Americredit Financial Services, Inc., Creditor-Appellant, v. Marlene A. Penrod, Debtor-Appellee.

United States Court of Appeals, Ninth Circuit.

Filed July 16, 2010.

Attorney(s) appearing for the Case

William M. Burke, Costa Mesa, CA, and Randall P. Mroczynski, Cooksey Toolen Gage Duffy & Woog, Costa Mesa, CA, for the creditor-appellant.

Kenneth N. Klee, Klee, Tuchin, Bogdanoff & Stern LLP, Los Angeles, CA, and Craig V. Winslow, San Mateo, CA, for the debtor-appellee.

Jan T. Chilton, Severson & Werson, San Francisco, CA, and James J. White, Ann Arbor, MI, for amici curiae American Financial Services Association, National Automobile Dealers Association, and California Bankers Association.

Barkley Clark and Katherine M. Sutcliffe Becker, Stinson Morrison Hecker LLP, Washington, D.C., for amici curiae GMAC LLC, Ford Motor Credit Company LLC, Wells Fargo Bank, N.A., Bank of America, N.A., America Honda Finance Corp., and Toyota Motor Credit Corp.

M. Jonathan Hayes, Northridge, CA, for amici curiae Professors Ingrid M. Hillinger, Michael Hillinger, Adam J. Levitin, and Jean Braucher.

Before ALFRED T. GOODWIN and WILLIAM A. FLETCHER, Circuit Judges, and RICHARD MILLS, District Judge.

OPINION

MILLS, District Judge:

The question presented in this case is whether a creditor has a purchase money security interest in the "negative equity" of a vehicle traded in at the time of a new vehicle purchase. Because we answer this question in the negative, we affirm the decision of the Bankruptcy Appellate Panel ("BAP").

I. BACKGROUND

In September 2005, Marlene Penrod purchased a 2005 Ford Taurus from a California Ford dealership...

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