IN RE SEVERANCE TRUCK LINE, INC.

Bankruptcy No. 81-504-BK-J-GP.

35 B.R. 332 (1983)

In re SEVERANCE TRUCK LINE, INC., Debtor.

United States Bankruptcy Court, M.D. Florida, Jacksonville Division.

December 23, 1983.


Attorney(s) appearing for the Case

Karen K. Specie, Keystone Heights, Fla., for debtor.

Douglas H. Morford, Jacksonville, Fla., for Transport Acceptance Corp.

Victor E. Raymos, Jacksonville, Fla., for Trustee.


ORDER AND OPINION

GEORGE L. PROCTOR, Bankruptcy Judge.

This cause comes before the Court on the motion for valuation of collateral filed by Charles Severance, a principal of the debtor. The collateral at issue, a truck, was repossessed by, offered for sale by, and ultimately purchased for $2,000 by Transport Acceptance Corporation. Severance has been, by virtue of his guarantee of the debts of Severance Truck Lines, at risk of being held liable in state...

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