Section 60c of the Bankruptcy Act: Inadequate Protection for the Running Account Creditor
Although the unsecured creditor long has occupied a precarious position, the widespread passage of article 9 of the Uniform Commercial Code has created additional perils for him by making virtually all of his debtor's assets available to a secured lender.' The Bankruptcy Act, while not so one-sided, also contains snares and pitfalls for the unsecured creditor. One potential trap is contained in the seemingly straightforward declaration of section 60c... This article focuses upon, and proposes a means for the elimination of, the unnecessary paradoxes implicit in section 60c's treatment of an unsecured creditor who extends continuing credit to a debtor in financial trouble.
E. Hunter Taylor, Jr.,
Section 60c of the Bankruptcy Act: Inadequate Protection for the Running Account Creditor,
24 Vanderbilt Law Review
Available at: https://scholarship.law.vanderbilt.edu/vlr/vol24/iss5/3