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IN RE PARROTTE

Bankruptcy No. 92-10108.

143 B.R. 622 (1992)

In re Lewis George PARROTTE and Ila Jean Parrotte, Debtors-in-Possession.

United States Bankruptcy Court, D. Vermont.

August 7, 1992.

Attorney(s) appearing for the Case

G. Glinka, Glinka & Palmer, Cabot, Vt., for Lewis and Ila Parrotte (Parrottes).

D. Leahy, R.J. Obuchowski Law Office, Bethel, Vt., for Caledonia Nat. Bank (Caledonia).

MEMORANDUM OF DECISION, ON 12 VT.STAT.ANN. § 2740(2)

FRANCIS G. CONRAD, Bankruptcy Judge.

We decide1 here the novel question of statutory interpretation: whether cattle are "tools of the trade" within the meaning of 12 Vt.Stat.Ann. § 2740(2), and are therefore exempt from a debtor's estate. We hold that 12 Vt.Stat.Ann. § 2740(2) cannot be so interpreted.

By virtue of a security agreement and a UCC-1 financing...

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