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RICHEY v. VENTURE OIL & GAS CORP.

No. 8511.

346 So.2d 875 (1977)

H. Lanier RICHEY v. VENTURE OIL & GAS CORPORATION (H & W Oil & Gas Company, Inc.).

Court of Appeal of Louisiana, Fourth Circuit.

May 17, 1977.

Attorney(s) appearing for the Case

Gordon, Arata, McCollam & Watters, Blake G. Arata, Andrew L. Gates, III, New Orleans, for plaintiff-appellee.

Monroe & Lemann, Richmond M. Eustis, New Orleans, for intervenor-appellant, H & W Oil & Gas Co., Inc.

Before SAMUEL, GULOTTA and BOUTALL, JJ.

GULOTTA, Judge.

We are confronted with a question involving ranking of privileges.

The relevant facts are as follows. Venture Oil & Gas Corporation executed a promissory note dated September 10, 1974, in the principal sum of $300,000.00 payable to The Merchants National Bank of Mobile for a loan in that sum made by the bank to Venture. The note was secured by the pledge of a $1,000,000.00 collateral mortgage note and collateral mortgage dated August 29...

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