Ford Motor Credit Co. Mierkowski, No. 08-3866

By FindLaw Staff on September 08, 2009 | Last updated on March 21, 2019

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.

Read Ford Motor Credit Co. Mierkowski, No. 08-3866

Appellate Information

Submitted: Junw 11, 2009

Filed: September 8, 2009

Judges

Opinion by Benton, Circuit Judge