First National Bank of Grayson v. Citizens Deposit Bank & Bank

COMBS, Judge.

This appeal deals with the priority of certain liens as between appellant and ap-pellee pursuant to the Kentucky Commercial Code.

Appellant, First National Bank of Gray-son [First Bank], and appellee, Citizens Deposit and Trust [Citizens Bank], are both creditors of C & M Mining Corporation [C & M] and others. First Bank filed a complaint against C & M seeking to collect on two past due promissory notes. Citizens Bank was named as a defendant since it was also one of C & M’s lienholding creditors.

The two notes were executed on December 26, 1984. One note was for $50,150.88, and…