- 11 U.S.C.
In re Biedermann Mfg. Indus.
Mar
31
2011
Ruling
Debtor's accounts payable were property of the estate and could be used as cash collateral.
Procedural posture
Debtor manufacturing company filed a petition under chapter 11 of the Bankruptcy Code and asked the court for permission to use cash collateral pursuant to 11 U.S.C.S. § 363. A bank that held a secured interest in the debtor's accounts, inventory, equipment, and general intangibles filed an objection, claiming that the money in the debtor's accounts was not property of the debtor's bankruptcy estate under 11 U.S.C.S. § 541.
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Court
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