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IN RE ALLIED WOOD PRODUCTS COMPANY

No. 1937.

140 F.Supp. 38 (1956)

In the Matter of ALLIED WOOD PRODUCTS COMPANY, Bankrupt.

United States District Court M. D. North Carolina.

April 4, 1956.

Attorney(s) appearing for the Case

Horace Haworth, Arthur Utley, Jr., High Point, N. C., for trustee in bankruptcy.

Welch Jordan, Joseph Carruthers, Jr., R. Kennedy Harris, Greensboro, N. C., R. E. Whitehurst, New Bern, N. C., for creditors.

HAYES, District Judge.

Five chattel mortgagees have excepted to the report of the Referee on his conclusion of the law that these mortgages do not constitute valid liens because they were not recorded in Forsyth County. The applicable Statute of North Carolina is G.S. § 47-20.2(b) (3) which is quoted in the foot note.1

The Referee interpreted subsection a. to mean that a chattel...

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