United States Eighth Circuit

Bankruptcy court's grant of debtors' motion to bifurcate creditor-Ford Motor Credit Company's claims is reversed and remanded as, under Missouri law, the amount financed to pay off the negative equity in the trade-in is part of the price of the new car, thus it is a purchase-money obligation and creditor has a purchase-money security interest securing its entire claim.

Appellate Information

• Decided 09/08/2009
• Published 09/08/2009

Judges

• BENTON, Circuit Judge., Before BYE, HANSEN, and BENTON, Circuit Judges.

Court

• United States Eighth Circuit

Counsel

• For Appellant:
  
• Katherine M. Sutcliffe Becker, argued, Washington DC, Thomas J. Noonan, St. Louis, MO, William M. Burke, Costa Mesa, CA, on the brief, for appellant., Charlie J. Harris, Kansas City, MO, James J. White, Ann Arbor, MI, on the brief, for amici curiae American Financial Services Association, National Automobile Dealers Assoc., Wade L. Nash, Jefferson City, MO, on the brief, for amicus curiae Missouri Bankers Association., Tara Twomey, San Jose, CA, on the brief, for amicus curiae National Association of Consumer Bankruptcy Attorneys., Wendell J. Sherk, St. Louis, MO, on the brief, for amicus curiae Ingrid Hillinger, Adam J. Levitin, Jean Braucher.


• For Appellees:
  
• Kimber Houpt Baro, argued, Florissant, MO, for appellee.