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IN RE PEGASUS INTERNATIONAL TRAVEL CLUB

Bankruptcy No. 79-504.

15 B.R. 842 (1981)

In re PEGASUS INTERNATIONAL TRAVEL CLUB, Debtor. PEGASUS DEBENTURE COMMITTEE, Plaintiff, v. Robert L. KNUPP, Esquire, Trustee for Pegasus International Travel Club, Defendant.

United States Bankruptcy Court, M.D. Pennsylvania.

December 15, 1981.

Attorney(s) appearing for the Case

Edward W. Rothman, Berman, Boswell, Snyder, & Tintner & McNees, Wallace & Nurick, Leonard Tintner, Harrisburg, Pa., for debtor.

Harry L. Bricker, J., Harrisburg, Pa., for debenture committee and debenture holders.

Robert L. Knupp, Knupp & Andrews, Harrisburg, Pa., Trustee.

MEMORANDUM AND ORDER DENYING SECURED STATUS

THOMAS WOOD, Bankruptcy Judge.

In this dispute the creditors of the debtor in bankruptcy claim a security interest in the proceeds of one of the debtor's assets which was sold following the commencement of bankruptcy. The trustee argues that the creditors did not have a perfected security interest in the asset and have no entitlement to the proceeds.

Pegasus International Travel Club, Inc., (Pegasus) executed...

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