Solved

Which of the Following Was the Result in Helms V

Question 80

Multiple Choice

Which of the following was the result in Helms v.Certified Packaging Corp. ,the case in the text in which the court considered whether settlement proceeds from a negligence lawsuit stemming from a fire that destroyed the collateral should belong to the debtor's bankruptcy estate or the secured creditor?


A) The court ruled in favor of the creditor on the basis that the documents evidencing the security interest did not limit the creditor's interest in any way.
B) The court ruled in favor of the bankruptcy estate on the basis that the trustee made first claim to the settlement proceeds.
C) The court ruled that the creditor was entitled to the full settlement proceeds,without consideration of the amount of the debt,on the basis that it had a secured interest.
D) The court ruled in favor of the creditor,regardless of the value of the collateral.
E) The court ruled in favor of the bankruptcy estate because the documents evidencing the security interest expressly limited the secured creditor's interest.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions