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IN RE ETC., INC.

No. 14865.

319 F.2d 291 (1963)

In the Matter of ETC., INC., Bankrupt. The DETROIT BANK AND TRUST COMPANY and Anaconda Wire and Cable Company, Appellants, v. George F. LaBOUR, Trustee, Appellee.

United States Court of Appeals Sixth Circuit.

June 24, 1963.

Attorney(s) appearing for the Case

Edgar H. Ailes, Detroit, Mich., Miller, Canfield, Paddock & Stone, Detroit, Mich., on brief, for appellants.

Joseph D. Hartwig, Benton Harbor, Mich., Hartwig & Crow, Benton Harbor, Mich., on brief, for appellee.

Before WEICK, Circuit Judge, O'SULLIVAN, Circuit Judge, and LEVIN, District Judge.

LEVIN, District Judge.

This is an appeal from a holding, 198 F.Supp. 53, that a certain chattel mortgage is not valid as against the trustee in bankruptcy. A brief outline of the relevant facts is as follows:

In 1954, Anaconda Wire and Cable Company agreed to lend ETC., Inc., the bankrupt, amounts not exceeding $150,000. As security, the bankrupt executed a chattel mortgage to the appellants, the Detroit Bank and Trust...

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