In the Matter of Country Lad Foods, Inc., Bankrupt. Marion B. Stokes, Trustee v. First Georgia Bank

This is an appeal from the judgment of the district court affirming the holding of the Bankruptcy Court that the First Georgia Bank’s security interest was not voidable by the Trustee under section 70(e) of the Bankruptcy Act. We affirm.

The First Georgia Bank had a perfected security interest in the Bankrupt’s personal property and trade fixtures. The Bankruptcy Court authorized the Trustee to sell the personal property and fixtures free and clear, and all liens were to attach to the proceeds. It was further ordered that each party asserting a claim of right, title or interest in the property…