Johnson v. Stimpson Computing Scale Co.

MACK, Circuit Judge.

The question before us is whether and, if so, to what extent the rights of the holder of a Kentucky, purchase-money chattel .mortgage, recorded only after the mortgagor’s adjudication in bankruptcy, are superior to those of the trustee in bankruptcy.

Inasmuch as under the amendment of June 25, 1910, to section 47(a) of the Bankruptcy Act (Comp. St. § 9631), the trastee is vested “with all the rights, remedies and powers of a creditor holding a lien by legal or equitable proceedings,” the title vested in the trustee would be. subject to the mortgagee’s lien only for such sum…