Key points are not available for this paper at this time.
George G. Triantis, A Free-Cash-Flow Theory of Secured Debt and Creditor Priorities, Virginia Law Review, Vol. 80, No. 8, Symposium on the Revision of Article 9 of the Uniform Commercial Code (Nov., 1994), pp. 2155-2168
George G. Triantis (1994) studied this question.