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IN RE MILLETTE

No. 98-60442.

186 F.3d 638 (1999)

In the Matter of: Thomas Shannon MILLETTE, Debtor. O'Neal Steel, Incorporated, Appellant-Cross-Appellee, v. E B Incorporated, Appellee-Cross-Appellant.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied September 21, 1999.

Attorney(s) appearing for the Case

Nicholas Van Wiser, Byrd & Wiser, Biloxi, MS, for O'Neal Steel, Inc.

Joseph E. Lotterhos, Edward E. Lawler, Jr., Bennett, Lotterhos, Sulser & Wilson, Jackson, MS, for E B Inc.

Before JONES and STEWART, Circuit Judges, and DUPLANTIER, District Judge.

EDITH H. JONES, Circuit Judge:

At issue in this case is whether, under Mississippi law, an "assignment of rents" clause contained in a properly recorded deed of trust gives the mortgagee a perfected, secured interest in the rents.1 Although this issue has never been addressed by the courts of Mississippi, our best Erie guess is that, following the majority rule, a Mississippi mortgagee's interest in the rents becomes perfected when...

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