National Oats Company, Creditor v. Byron Long, Trustee of North Mississippi Broilers, Inc., Bankrupt

HOLMES, Circuit Judge.. The petition for rehearing states that the concurring opinion overlooked .the fact that, there is no evidence of any creditor' having given the bankrupt credit on the assumption that the chickens were its property. On this point, we think that the trustee in bankruptcy is legally deemed to be such a creditor, "whether or not such a creditor actually exists,” . 11 U.S.C.A. § 110, sub. c.

A creditor may be the innocent holder of a note and still lose his security by the superior lien of the trustee in bankruptcy. There may be a debt without a lien even' if there cannot be…