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IN RE W.J. CLARK CO., LTD.

Bankruptcy No. 81-04300G, Adv. No. 81-1615G.

30 B.R. 675 (1983)

In re W.J. CLARK COMPANY, LTD. Joint Administration with W. Joseph Clark, a/k/a William Joseph Clark, Martha L. Clark, Debtors. WESTINGHOUSE CREDIT CORPORATION, Plaintiff, v. W.J. CLARK CO., LTD. and Samuel Alper, Trustee and Hamilton Bank, formerly National Central Bank and Roper Corporation and Central Capital Corporation and Borg-Warner Acceptance Corporation, Defendants.

United States Bankruptcy Court, E.D. Pennsylvania.

June 10, 1983.

Attorney(s) appearing for the Case

Mary D. Colins, Philadelphia, Pa., for plaintiff, Westinghouse Credit Corp.

Alexander N. Rubin, Jr., Robert Szwajkos, Rubin, Quinn & Moss, Philadelphia, Pa., for the debtor, defendant, W.J. Clark Co., Ltd.

Samuel Alper, Philadelphia, Pa., defendant/trustee.

William A. Harvey, Fellheimer, Eichen & Goodman, Philadelphia, Pa., for defendant, Samuel Alper, trustee.

Robert H. Kauffman, Rhoda, Stoudt & Bradley, Reading, Pa., for defendant, Hamilton Bank, formerly Nat. Central Bank.

Samuel L. Hirshland, Liebert, Short, FitzPatrick & Lavin, Philadelphia, Pa., for defendant, Roper Corp.

Richard E. Fehling, Stevens & Lee, Reading, Pa., for defendant, Central Capital Corp.

Jay E. Goldfarb, Philadelphia, Pa., for defendant, Borg-Warner Acceptance Corp.

OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

The issue before us is whether a creditor has a security interest in a debtor's inventory and proceeds where the creditor fails to produce a formal, written security agreement evincing an intention to create a security interest therein. We conclude that the creditor has no security interest in the collateral in question because no writings were produced, other than a financing statement, which were signed by the...

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