“Strong arm” powers: who gets first dibs on Christmas trees?

Grogan v. Harvest Capital Co. (In re Grogan), 476 B.R. 270 (Bankr. D. Or. 2012) –

In Grogan, the debtors planted and harvested Christmas trees.  The bankruptcy court was called upon to determine whether the debtors could exercise their “strong arm” powers under Section 544(a) of the Bankruptcy Code to trump the liens of two of their lenders on the Christmas trees.

Filed under:
USA, Oregon, Banking, Insolvency & Restructuring, Litigation, Troutman Pepper, Debtor, Mortgage loan, Personal property, Uniform Commercial Code (USA)
Location:
USA
Firm:
Troutman Pepper
South Valley Bank & Trust assumes all of the deposits of Home Valley Bank

On Friday, the Oregon Department of Consumer and Business Services closed Home Valley Bank, headquartered in Cave Junction, Oregon, and appointed the FDIC as receiver for the bank.

Filed under:
USA, Oregon, Banking, Insolvency & Restructuring, Alston & Bird LLP, Share (finance), Federal Deposit Insurance Corporation (USA)
Location:
USA
Firm:
Alston & Bird LLP
Columbia State Bank assumes deposits of Columbia River Bank

On Friday, the Oregon Division of Finance and Corporate Securities closed Columbia River Bank, headquartered in Dalles, Oregon, and the FDIC was named receiver.

Filed under:
USA, Oregon, Banking, Insolvency & Restructuring, Alston & Bird LLP, Security (finance), Federal Deposit Insurance Corporation (USA)
Authors:
Lawanna Kimbro
Location:
USA
Firm:
Alston & Bird LLP