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IN RE MANUFACTURERS CREDIT CORPORATION

No. 18252.

441 F.2d 1313 (1971)

In the Matter of MANUFACTURERS CREDIT CORPORATION, a New Jersey corporation, et al., Debtors. Appeal of PEOPLES TRUST OF NEW JERSEY (formerly known as Peoples Trust Company of Bergen County) a trade creditor.

United States Court of Appeals, Third Circuit.

Decided April 12, 1971.

Attorney(s) appearing for the Case

Arthur L. Abrams, Newark, N. J., Winne & Banta, Hackensack, N. J., for Creditor, Peoples Trust of N. J. (formerly known as Peoples Trust Co. of Bergen County), appellant; (Joseph A. Rizzi, Hackensack, N. J., on the brief).

Michael R. Griffinger, Crummy, Gibbons & O'Neill, Newark, N. J., for appellee.

Before KALODNER, FREEDMAN and ADAMS, Circuit Judges.

OPINION OF THE COURT

KALODNER, Circuit Judge.

Where a bank has financed the purchase of 20 motor buses in New Jersey and perfected a security interest in them by proper filing with the New Jersey Director of Motor Vehicles ("Director"), was it required, under New Jersey law, to make a further filing with the Director of a subsequent non-purchase money loan on the same buses in order to perfect a security interest in them as to the second loan?

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