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ST. ANGELO v. VICTORIA FARMS, INC.

No. 93-15254.

38 F.3d 1525 (1994)

Mark St. ANGELO, Acting U.S. Trustee for Region 17, Plaintiff-Appellant, v. VICTORIA FARMS, INC., Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Decided November 1, 1994.

Attorney(s) appearing for the Case

T. Patrick Tinker, Executive Office for the U.S. Trustee, Washington, DC, for plaintiff-appellant.

Riley C. Walter & Gordon R. Ladwig, McCormick, Barstow, Sheppard, Wayte & Carruth, Fresno, CA, for defendant-appellee.

Before CHOY, POOLE, and REINHARDT, Circuit Judges.

Opinion by Judge REINHARDT; Partial Concurrence and Partial Dissent by Judge POOLE.

REINHARDT, Circuit Judge:

I. Facts

In 1979, debtor Victoria Farms, Inc. ("Victoria Farms") mortgaged its farm to Equitable Life Assurance Society of the United States ("Equitable"). See S.E.R. tab 1, Ex. A, at 7. The mortgage took the form of a "deed of trust," which simply granted Equitable a lien on the property...

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