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IN RE LEE

Bankruptcy Nos. BK-4-79-117, BK-4-79-118, Adv. No. 1-80-78.

14 B.R. 804 (1981)

In re Johnny Kirtland LEE, Connie Sue Lee, Bankrupts. PEOPLES BANK OF ELK VALLEY, Plaintiff, v. MURFREESBORO PRODUCTION CREDIT ASSOCIATION and First National Bank of Huntland, Defendants.

United States Bankruptcy Court, E.D. Tennessee.

October 26, 1981.

Attorney(s) appearing for the Case

Raymond W. Fraley, Jr., Fayetteville, Tenn., for plaintiff.

George C. Eblen, Shelbyville, Tenn., for defendant, Murfreesboro Production Credit Ass'n.

Floyd Don Davis, Winchester, Tenn., for defendant, First Nat. Bank of Huntland.

MEMORANDUM

RALPH H. KELLEY, Bankruptcy Judge.

This is a dispute between three creditors, each of which had a perfected security interest in livestock owned by the bankrupt, Johnny Lee. One of the creditors, Murfreesboro Production Credit (MPC), took some cattle and pigs and sold them. The other creditors, two banks, contend they are entitled to all or part of the proceeds from MPC's sale.

MPC perfected its security interest by filing a financing...

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