Thomas v. Greyson Co.

MEMORANDUM OF DECISION

ORMA R. SMITH, District Judge.

This action is before the court upon a petition filed pursuant to the provisions of Section 39 of the Bankruptcy Act, 11 U.S.C.A. § 67(c), to review a decision of the Referee. The petitioner, Greyson Company, Ltd. (Greyson Company) seeks a review of the Referee’s determination that it held only an unperfected security interest in certain food packaging equipment which was sold by the trustee in bankruptcy. The sale was authorized by the Referee and the proceeds retained by the Trustee. The petitioner did not challenge the sale, but now…