Bankr. L. Rep. P 71,144, 1 Ucc rep.serv.2d 543 Richard L. Smith v. Dairymen, Inc., and the Farm Loan Corporation, and United States of America, Acting Through Farmers Home Adm., of the Usda, United Virginia Bank, and First National Bank of Lexington’s Empirical Analysis
1986
Citation profile
1 district ·
How this case has been cited
Cited by 17 later decisions — most recently September 2013
1 district ·
Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.
Relationships
Applies 11 U.S.C. § 101 (Bankruptcy Abuse Prevention and Consumer Protection Act of 2005)
Relies on Wt Grant Company Cosoff v. G Rodman Wt · Lbl Sports Center Incorporated Walker Lml v. Bank of Cadiz · Credit Industrial Corporation Gould Levin · Ramsey v. Ramsey · Cook & Sons Equipment, Inc. v. Killen
Most-quoted passages
The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 17 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“(a) Except as provided in subsection (b) of this section, property acquired by the estate or by the debtor after the commencement of the case is not subject to any lien resulting from any security agreement entered into by the debtor before the commencement of the case. (b) Except as provided in sections 363, 506(c), 522, 544, 545, 547, and 548 of this title, if the debtor and an entity entered into a security agreement before the commencement of the case and if the security interest created by such security agreement extends to property of the debtor acquired before the commencement of the case and to proceeds, product, offspring, rents, or profits of such property, then such security interest extends to such proceeds, product, off spring, rents, or profits acquired by the estate after the commencement of the case to the extent provided by such security agreement and by applicable non-bankruptcy law, except to any extent that the court, after notice and a hearing and based on the equities of the case, orders otherwise.”
2 later decisions quote this exact passage“The general rule of Section 552(a) is subject to a very narrow exception described in Section 552(b).... This exception was intended to protect a creditor’s interest in particular prepetition goods or collateral from being terminated by the filing of a bankruptcy petition. The exception is a very limited one intended to cover the situation where a creditor holds a security interest in raw materials, and after the filing of a bankruptcy petition, the debtor changes their form by converting them into inventory. 124 Cong. Rec.H. 11,097-11,098 (Sept. 28, 1978); S. 17, 414 (Oct. 6, 1978).... There is no question in this Court’s mind that milk produced post-petition or the proceeds of post-petition milk production are not subject to the Section 552(b) exception. To interpret 552(b) otherwise would result in the exception swallowing the rule. Section 552(b) was intended to protect a creditor’s security interest in collateral existing pre-pretition from being cut off midstream by a bankruptcy. Milk and proceeds existing pre-petition as well as post-petition proceeds resulting from milk produced pre-petition are subject to the Bank’s security interest pursuant to Sections 552(b) and 363(c). However, milk produced post-petition is an asset coming into existence totally after the filing and not intended to be covered by the 552(b) exception.”
1 later decision quote this exact passage“The general principle that a judgment will not be altered on appeal in favor of a party who did not appeal applies as well to cases in which the interests of the party not appealing are aligned with those of the appellant. Thus if co-defendants are held liable below, and one appeals and one does not, the party appealing does not stand as surrogate for the one who does not, and though the judgment be reversed, the party not appealing remains liable, despite the fact that the liability of each depends upon the same legal principles. Indeed the ultimate result is no different than it would be if individual suits had been brought and one had been successful and the other not.”
1 later decision quote this exact passage
How this case has been treated — in progress
Whether each later court followed, distinguished, criticized, or overruled this decision. The treatment classification (task #35) runs highest-cited cases first and lights up here as it reaches this one.