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IN RE WALLACE LINCOLN-MERCURY, INC.

No. 20743.

326 F.Supp. 1243 (1971)

In the Matter of WALLACE LINCOLN-MERCURY, INC., Bankrupt.

United States District Court, W. D. Louisiana, Monroe Division.

May 14, 1971.

Attorney(s) appearing for the Case

Fred W. Jones, Jr., and Kenneth W. Campbell, Ruston, La., for the bankrupt.

James A. Hobbs, Jones, Blackwell, Chambliss, Hobbs & Henry, West Monroe, La., for the trustee.

A. K. Goff, Jr., Goff & Goff, Ruston, La., for Ruston State Bank and Trust Co.

Ragan D. Madden, Dist. Atty., Ruston, La., for Mrs. Lois B. Heard.

George V. Burbach, Dearborn, Mich., William F. Pipes, Jr., Pipes & Pipes, Monroe, La., Peter A. Feringa, Jr., Chaffe, McCall, Phillips, Burke, Toler & Sarpy, New Orleans, La., for Ford Motor Credit Co.

RULING ON REVIEW

DAWKINS, Chief Judge.

In this bankruptcy proceeding before us on review, involving a wholesale motor vehicle financing arrangement, Ford did not have a "better idea." The better idea would have been for Ford Motor Credit Company (FMCC), which appeals from the Referee's ruling against it, to have availed itself of Louisiana's chattel mortgage floor plan scheme1 in order to obtain a security interest clearly provided...

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