United States v. Glenn Jones, Trustee of the Independent Plow, Inc., Bankrupt

MURRAH, Circuit Judge.

This appeal is from a judgment confirming an order of the referee denying both the validity of a chattel mortgage lien and the priority claim of the United States as a secured lienholder in the matter of Independent Plow, Inc., bankrupt.

The United States, as transferee of the Reconstruction Finance Corporation, 1 first asserts a secured lien claim against proceeds of the trustee’s sale of the bankrupt’s assets, under a chattel mortgage executed by the bankrupt to the Reconstruction Finance Corporation. The bankrupt, a Kansas corporation primarily manufacturing farm…