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IN RE LOCKOVICH

Bankruptcy No. 88-1192 PGH, Motion No. 88-4116.

105 B.R. 297 (1989)

In re John J. and Clara LOCKOVICH, Debtors. GALLATIN NATIONAL BANK, Movant v. John J. and Clara LOCKOVICH, Respondents.

United States Bankruptcy Court, W.D. Pennsylvania.

October 2, 1989.

Attorney(s) appearing for the Case

Donald R. Calaiaro, Pittsburgh, Pa., for debtors.

Charles O. Zebley, Jr., Pittsburgh, Pa., for Gallatin Nat. Bank.

OPINION

WARREN W. BENTZ, Bankruptcy Judge.

ISSUE

The issue is whether the lienholder on a 22 foot motorboat with a purchase price of $32,500 and a purchase money security interest of $26,500 is perfected without the filing of financing statements under the Uniform Commercial Code.

FACTS

On August 20, 1986, debtors purchased a motorboat 22 feet long weighing 3,200 pounds (a 1986 Chapparel Villian III) for $32,500 and borrowed ...

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