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MATTER OF SMITH

Bankruptcy No. 80-02233; Adv. No. 81-0465.

16 B.R. 111 (1981)

In the Matter of Robert J. SMITH, and Susan E. Smith, a/k/a Mr. P., Ltd. d/b/a Sonny's Restaurant, Debtors. Clifton G. OWENS, Trustee of Robert J. Smith and Susan E. Smith, Plaintiff, v. NATIONAL BOULEVARD BANK and Robert J. Smith and Susan E. Smith, Defendants.

United States Bankruptcy Court, E.D. Wisconsin.

December 17, 1981.

Attorney(s) appearing for the Case

R. Arthur Ludwig, Ludwig & Shlimovitz, S.C., Milwaukee, Wis., for trustee.

Randall D. Crocker, Lichtsinn, Haensel, Bastian & Erchul, S.C., Milwaukee, Wis., for debtors.

MEMORANDUM DECISION

C.N. CLEVERT, Bankruptcy Judge.

In this case the issue is whether the debtors are entitled to exempt property of the bankruptcy estate which the trustee recovered by avoiding an unperfected purchase money lien on restaurant equipment and fixtures pursuant to 11 U.S.C. § 544.

The facts may be summarized as follows: The debtors, operators of two Milwaukee, Wisconsin restaurants, filed a joint voluntary Chapter 11 petition on...

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