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IN RE MORSE

No. 82-9056.

30 B.R. 52 (1983)

In re Albert W. MORSE, Debtor. MAINE NATIONAL BANK, Appellant, v. Albert W. MORSE, et al., Appellees.

United States Bankruptcy Appellate Panels for the First Circuit.

June 7, 1983.

Attorney(s) appearing for the Case

Robert Avaunt, Easton, Maine, for appellant, Maine Nat. Bank.

William H. Howison, for appellee, William H. Howison.

Ellsworth T. Rundlett, III, Portland, Maine, for appellee, Barbara M. Morse.

Before LAWLESS, Chief Judge, and GLENNON and LAVIEN, Bankruptcy Judges.

GLENNON, Bankruptcy Judge.

An appeal was taken from an order of the bankruptcy court dated September 17, 1982 which held the Chapter 7 trustee's ("trustee") rights in certain real estate to be superior to those of the plaintiff, Maine National Bank ("bank").

On October 10, 1973, the Bank loaned the debtor, Albert W. Morse ("debtor"), and his former wife, Barbara M. Morse, $28,000. The loan was evidenced by a promissory note and secured by a mortgage deed properly...

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