In re Wallace Lincoln-Mercury, Inc.

RULING ON REVIEW

DAWKINS, Chief Judge.

In this bankruptcy proceeding before us on review, involving a wholesale motor vehicle financing arrangement, Ford did not have a “better idea.” The better idea would have been for Ford Motor Credit Company (FMCC), which appeals from the Referee’s ruling against it, to have availed itself of Louisiana’s chattel mortgage floor plan scheme1 in order to obtain a security interest clearly provided for in circumstances such as here presented.

FMCC, unmindful of Louisiana law, in an effort to employ standardized forms and agreements to be used throughout the…