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IN RE TRAVELERS PETROLEUM, INC.

Bankruptcy No. 87-02556-B, Adv. No. 87-222.

86 B.R. 246 (1987)

In re TRAVELERS PETROLEUM, INC., Debtor. TRAVELERS PETROLEUM, INC., Plaintiff, v. INTERNAL REVENUE SERVICE, Defendant, Federal Deposit Insurance Corporation, in its corporate capacity, Intervenor.

United States Bankruptcy Court, W.D. Oklahoma.

December 29, 1987.

Attorney(s) appearing for the Case

Ray K. Babb, Jr., Oklahoma City, Okl., for plaintiff.

M. Kent Anderson, Tax Division, Dept. of Justice for U.S.

Kenneth I. Jones, Jr., Jones, Blaney and Pringle, Oklahoma City, Okl., for FDIC.

MEMORANDUM DECISION AND ORDER

PAUL B. LINDSEY, Bankruptcy Judge.

The trial of this adversary proceeding was held November 24, 1987. The Court ruled that the debtor's trucks to which a federal tax lien had attached had a value, in the aggregate, of $194,050.00 as of the date of bankruptcy. In a previous hearing, the Court had ruled that the Internal Revenue Service ("IRS") was secured in that portion of the proceeds of a note which represented those trucks...

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