Fedders Financial Corp. v. Borg Warner Acceptance Corp.

OPINION OP THE COURT

DAN M. RUSSELL, Jr., Chief Judge.

This is an appeal from a judgment of the Bankruptcy Court of the Southern District of Mississippi that adjudged, inter alia, that appellant Fedders Financial Corporation (hereinafter FFC) had failed to properly perfect its security interest in certain collateral of the bankrupts and was, therefore, subordinate to the other secured creditor’s and the trustee in bankruptcy.

The position of appellee, Borg Warner Acceptance Corporation (hereinafter BWAC) is, of course, that the bankruptcy judge was correct in his ruling invalidating the security…