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IN RE LUDWIG HONOLD MFG. CO.

Bankruptcy No. 81-04610G, Adv. No. 83-1742G.

33 B.R. 724 (1983)

In re LUDWIG HONOLD MANUFACTURING COMPANY, Debtor. The COMMITTEE OF CREDITORS OF LUDWIG HONOLD MANUFACTURING COMPANY, INC., and Fred Zimmerman, Trustee, Plaintiffs, v. CENTRAL PENN NATIONAL BANK, Defendant.

United States Bankruptcy Court, E.D. Pennsylvania.

Reconsideration Denied November 22, 1983.

Attorney(s) appearing for the Case

Nancy V. Alquist, Douglas J. Smillie, Clark, Ladner, Fortenbaugh & Young, Philadelphia, Pa., for plaintiff, The Committee of Creditors of Ludwig Honold Mfg. Co., Inc.

Melvin Lashner, Daniel Bernstein, Melvin Lashner & Associates, Philadelphia, Pa., for plaintiff Fred Zimmerman, trustee.

John J. Lamb, Philadelphia, Pa., for debtor, Ludwig Honold Mfg. Co., Inc.

James M. Matour, Paul Patterson, Robert A. Kargen, White & Williams, Philadelphia, Pa., for defendant, Central Penn National Bank.

OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

The issue at bench is whether under the doctrine of marshalling of assets we should order a creditor who holds a security interest in the debtor's property as well as the property of the debtor's sureties, to foreclose its security interest in the sureties' property prior to recourse against the debtor's property. The issue is presented to the court through the defendant's motion to dismiss the complaint for failure...

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