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IN RE TOM WOODS USED CARS, INC.

Bankruptcy No. 1-81-00802, Adv. No. 1-81-0421.

23 B.R. 563 (1982)

In re TOM WOODS USED CARS, INC. formerly George Woods & Son, Inc. d/b/a Tom Woods Used Cars, Inc., Debtor. Joseph Paul McCLOUD, Jr., and Brenda W. McCloud, Plaintiffs, v. Tom WOODS, Individually, Tom Woods Used Cars, Inc., formerly George Woods & Son, Inc., d/b/a Tom Woods Used Cars, First Tennessee Bank, American National Bank & Trust Company, Richard P. Jahn, Jr., trustee, Defendants.

United States Bankruptcy Court, E.D. Tennessee.

September 21, 1982.

Attorney(s) appearing for the Case

John Alley, Chattanooga, Tenn., for plaintiffs.

Kyle R. Weems, Weill, Ellis, Weems & Copeland, Chattanooga, Tenn., for defendant, Tom Woods.

Richard B. Gossett, Thomas, Mann & Gossett, Chattanooga, Tenn., for defendant, First Tenn. Bank.

Shields Wilson, Chattanooga, Tenn., for defendant, American Nat. Bank & Trust Co.

Hal North, Tanner, Jahn, Atchley, Bridges & Jahn, Chattanooga, Tenn., for defendant, Richard P. Jahn, Jr., Chattanooga, Tenn., Trustee.

MEMORANDUM

RALPH H. KELLEY, Bankruptcy Judge.

Shortly before its bankruptcy in April, 1981, Tom Woods Used Cars sold a car to the plaintiffs, Joseph Paul McCloud, Jr., and Brenda W. McCloud. They executed an installment sales contract which Tom Woods Used Cars sold to First Tennessee Bank in return for payment of the purchase price of the car. About the same time, the McClouds arranged financing through American National Bank and with the proceeds paid the...

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