Steego Auto Parts Corp. v. Markey

Steego Auto Parts Corporation, f/k/a Sterling Parts Corporation, plaintiff-appellant, appealed the decision of the Court of Common Pleas of Fulton County, which determined the priority of the secured creditors of Roger Markey, defendant-appellee.

Roger Markey, d.b.a. J. T. & T. Auto Supply, pursuant to a buy-sell agreement of November 7, 1975, purchased this business from Ramon McQuillin on December 1, 1975. To secure the balance of the purchase price, Mr. McQuillin retained a security interest and on January 14, 1976, filed a financing statement covering “all inventory, equipment, personal…