Trust Company of Columbus v. United States

ALBERT J. HENDERSON, Circuit Judge:

This is an appeal from the judgment of the United States District Court for the Middle District of Georgia awarding the proceeds of two disputed bank accounts to the appellee, Trust Company of Columbus (Trust Company). The district court determined that a taxpayer’s execution of several promissory notes, each containing a clause securing its bank accounts as collateral for loans, created a valid security interest in the funds remaining in the accounts that was superior to a later-imposed, federal tax lien. Finding no error, we affirm.

The taxpayer, Spain &…