Nobles v. First Carolina Communications, Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• secured lender that receives funds from statutory trustee for value and without notice of breach of trust entitled to retain payments
• “[A]ll trust beneficiaries must be paid in full before any remainder is distributed to secured creditors.”
• “Trust assets are ac- tually exempt from the bankruptcy estate, and all trust beneficiaries must be paid in full before any remainder is distributed to secured creditors.”
• “[W]hen trust assets are distributed in bankruptcy, trust beneficiaries are to be paid first.”
• applying bona fide purchaser rule in context of PACA trust
• “Secured lenders are not guarantors of PACA trusts.”

Source: CourtListener parenthetical corpus (CC0).