In Re Callister

15 B.R. 521 (1981)

Study Aids
Case Briefs Overview
Casebooks
Case Briefs
I
From our private database of 46,300+ case briefs, written and edited by humans—never with AI.

In Re Callister

United States Bankruptcy Court for the District of Utah
15 B.R. 521 (1981)

  • Written by Philip Glass, JD

Facts

William Callister (debtor) filed for Chapter 11 bankruptcy on December 12, 1980. On January 2, 1981, Ingersoll-Rand Financial Corporation (Rand) (creditor) sought relief from the automatic stay under 11 U.S.C. § 503(b), which permits lifting the automatic stay to impose administrative expenses, including for equipment used in maintaining the bankruptcy estate. Rand possessed a security interest in two trailers and three tractors owned by Callister. On January 23, 1981, it was determined that the value of this collateral ($129,000) exceeded the amount of debt ($106,248). Thus, pursuant to lifting the automatic stay, Callister would pay $1,232 monthly to Rand. Callister was required to obtain insurance for the equipment. Between January and June, two of the tractors were subject to repair and not used. The third, uninsured tractor was destroyed by fire after three weeks in use. The collateral declined to $67,197, below the total debt amount. On June 5, 1981, the stipulation of January 23 was ruled erroneous. The actual permitted secured-claim amount was $95,553, which on June 5 decreased to $61,802. Callister defaulted, and the court heard the issue of whether Rand had super-priority.

Rule of Law

Issue

Holding and Reasoning (Mabey, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 820,000 law students since 2011. Some law schools even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.

    Learn about our approachRead more about Quimbee

Here's why 820,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 46,300 briefs, keyed to 989 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 820,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 46,300 briefs - keyed to 989 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership

Casebooks

Bankruptcy

Key Terms