IN RE JAMES CALVIN BELK CONST. CO., INC.

Bankruptcy No. 79-20142.

4 B.R. 132 (1980)

In re JAMES CALVIN BELK CONSTRUCTION COMPANY, INC., Debtor. JAMES CALVIN BELK CONSTRUCTION COMPANY et al., Plaintiffs, v. S.F. KENNEDY NEW PRODUCTS, INC., Defendant.

United States Bankruptcy Court, N.D. Mississippi.

April 16, 1980.


Attorney(s) appearing for the Case

Fincher G. Bobo and G. Rives Neblett, Neblett & Bobo, Shelby, Miss., for plaintiffs Prather and James Calvin Belk Construction Co., Inc.

Gerald H. Jacks, Levingston, Jacks, Levingston & Land, Cleveland, Miss., for plaintiffs Norquist and McKnight.

Charles M. Merkel, Holcomb, Dunbar, Connell, Merkel, Tollison & Khayat, Oxford, Miss., for plaintiffs J.C. Belk and Barbara Belk.

Douglas C. Wynn and Eugene M. Bogen, Wynn, Bogen & Mitchell, Greenville; Miss., and Robert G. Johnston, Alexander, Johnston & Alexander, Cleveland, Miss., for defendant.


MEMORANDUM OPINION

EUGENE J. RAPHAEL, Bankruptcy Judge.

The overriding legal question to be decided in this adversary proceeding is the effect to be given to Mississippi Code sections 79-3-155 and 79-3-157, which deal with mortgages of all or substantially all of the assets of a corporation.

Background

James Calvin Belk Construction Co., Inc., the debtor in this Chapter 11 case (hereafter debtor or the corporation) is in the business...

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