In re Keene

MEMORANDUM AND ORDER ON APPLICATION FOR DETERMINATION OF SECURED STATUS

CLIVE W. BARE, Bankruptcy Judge.

The alleged secured status of the claim of the Johnson City Federal Employee’s Credit Union (Credit Union) is challenged by the debtors in this case. The validity of the prepetition assignments by the debtors of security interests in their respective civil service retirement funds is at issue. If these assignments are not prohibited under statutes related to Civil Service Retirement, 5 U.S.C.A. §§ 8331-8348 (1980 & Supp. 1982), the debtors request the court to also consider the effect of:…