Rees v. Hemisphere Publishing Corp.

Memorandum _ of decision on motion to disallow claim in receivership as secured creditor.

MURPHY, J.

Tino Suarez; has filed a claim with the receiver in this matter claiming that he is a secured creditor in the amount of $2,500 by reason of a chattel mortgage on certain machinery and equipment of the corporation.

The receiver admits the indebtedness but has moved that the claim be disallowed as secured, because (1) the alleged chattel mortgage is, in reality, a conditional bill of sale or chattel lease; (2) the alleged chattel mortgage was not recorded within a reasonable time.

The corporation…