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IN RE BUTZ

Bankruptcy No. 77-45WK.

1 B.R. 435 (1979)

In re Edgar O. BUTZ, Individually and t/a The Bookmark; Helen A. Butz, Individually and as tenants by the entireties (Bankruptcy Nos. 77-46 and 77-47 consolidated with this Case), Bankrupts.

United States Bankruptcy Court, E.D. Pennsylvania.

December 7, 1979.

Attorney(s) appearing for the Case

John A. Wollman, West Chester, Pa., for bankrupts.

John A. Wetzel, Philadelphia, Pa., W. Robert Landis, West Chester, Pa., for Trustee.

James T. Owens, West Chester, Pa., for Dale R. Bonsall.

OPINION

WILLIAM A. KING, Jr., Bankruptcy Judge.

Claimant, Dale Bonsall, has brought this action seeking a determination that he is a "secured creditor" under Section 1 of the Bankruptcy Act, 11 U.S.C. § 1. On or about March 10, 1976, Bonsall entered into a loan agreement with the bankrupt, Edgar O. Butz, which provided for the sum of $3,000.00 to be lent to Butz at 9% interest, payable within one year. As collateral, Butz offered his home which he asserted...

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