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In re Groff
United States Court of Appeals for the Tenth Circuit
898 F.2d 1475 (1990)
- Written by Rich Walter, JD
Facts
Citizens Bank of Clovis (bank) (plaintiff) loaned money to Lee Groff (defendant). In return, Groff signed a security instrument giving the bank an interest in the cattle Groff then owned, as well as all cattle Groff afterward acquired. Later, Groff partnered with Ed Pickering in a joint cattle-feeding venture. Over time, the partners purchased cattle in the joint venture’s name. Groff subsequently declared bankruptcy. The bankruptcy court denied the bank’s petition to have the so-called Groff-Pickering cattle declared part of Groff’s bankruptcy estate. The bank appealed to the Tenth Circuit.
Rule of Law
Issue
Holding and Reasoning (Lord, C.J.)
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