IN RE JONES

Bankruptcy No. 81-00895K, Adv. No. 80-0531K.

13 B.R. 945 (1981)

In re E. David JONES and Charlene Jones, Debtors, E. David JONES and Charlene Jones, Plaintiffs, v. Arthur T. McWILLIAMS, Trustee, Budd Workers Federal Credit Union Chalfont-New Britain Twp. Sewer Authority Philadelphia National Bank Borough of Chalfont and Sears, Roebuck & Co., Defendants.

United States Bankruptcy Court, E.D. Pennsylvania.

September 9, 1981.


Attorney(s) appearing for the Case

Richard Hale Pratt, Doyleston, Pa., for plaintiffs/debtors.

James W. Pearson, Jr., Philadelphia, Pa., James W. Tracey, III, Philadelphia, Pa., for Budd Workers Federal Credit Union.

Arthur T. McWilliams, Philadelphia, Pa., (Trustee).


OPINION

WILLIAM A. KING, Jr., Bankruptcy Judge.

The issue presented by this case is whether the lien of Budd Workers Federal Credit Union (hereinafter Budd) can be avoided by the debtors as a judicial lien subject to Title 11 U.S.C. § 522(f)(1). The lien was obtained by confession of judgment, however, the defendant argues that this lien is a purchase money security interest, in nature, and not a judicial lien. If this allegation is correct, the lien...

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