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IN RE HOUSECRAFT INDUSTRIES, USA, INC.

Bankruptcy No. 91-10779.

155 B.R. 79 (1993)

In re HOUSECRAFT INDUSTRIES, USA, INC., Debtor.

United States Bankruptcy Court, D. Vermont.

May 18, 1993.

Attorney(s) appearing for the Case

J. Schwidde, Law Offices of Gleb Glinka, Rutland, VT, for Gleb Glinka, Chapter 7 Trustee ("Trustee").

C. Reis, Law Offices of Obuchowski & Reis, Bethel, VT, for Franklin County Industrial Development Corp. ("FCIDC").

MEMORANDUM OF DECISION ON MOTION FOR RELIEF FROM STAY

FRANCIS G. CONRAD, Bankruptcy Judge.

The joint motion1 of FCIDC and Franklin Lamoille Bank for relief from stay raises an issue of first impression in our jurisdiction concerning how a nonpossessory junior lien holder perfects its lien in a deposit money account that is in the exclusive possession of a senior lien holder when possession is the only method of perfection. In...

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