Haynes v. General Electric Credit Corp.

OPINION AND JUDGMENT

DALTON, District Judge.

This action presents the important question of whether the system of recordation of title to aircraft under Section 503 of the Federal Aviation Act of 1958, 49 U.S.C. § 1403, displaces and preempts state law that would otherwise govern on priorities of lien and title interests in aircraft. More specifically, the court must determine whether Congress intended by enactment of the aforementioned statute to affect priorities existing under state law between a prior security holder and a subsequent buyer in the ordinary course of business.

Plaintiff Vernon…