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In re Delbridge

United States Bankruptcy Court for the Eastern District of Michigan

61 B.R. 484 (1986)

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Relevant factsFree

The Delbridges (plaintiffs), dairy farmers who borrowed money from lenders (defendants) secured by liens on their cows and milk, filed bankruptcy and conceded the lenders' pre-petition liens on the cows and existing milk, but sought a determination that post-petition milk produced by the same cows was not subject to those liens, or alternatively permission to use the post-petition milk.

IssueFree

Whether proceeds from the sale of collateral may be allocated between a secured creditor and a debtor based on the equities of the case under the Bankruptcy Code.

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