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IN RE SPECTRA PRISM INDUSTRIES, INC.

BAP No. NC-82-1161-KVE, Bankruptcy Nos. 480-03942-H to 480-03944-H.

28 B.R. 397 (1983)

In re SPECTRA PRISM INDUSTRIES, INC., Debtor. In re P.H.P. LITHOGRAPHERS, INC., Debtor. In re SPECTRA PRISM LABORATORY, INC., Debtor. Charles DUCK, Trustee, Appellant, v. WELLS FARGO BANK, NATIONAL ASSOCIATION, Appellee.

United States Bankruptcy Appellate Panels of the Ninth Circuit.

Decided March 15, 1983.

Attorney(s) appearing for the Case

James A. Thompson, Wilhelm, Thompson, Wentholt & Gibbs, Redwood City, Cal., for appellant.

Stephen Kottmeier, Hopkins, Mitchell & Carley, San Jose, Cal., for appellee.

Before KATZ, VOLINN and ELLIOTT, Bankruptcy Judges.

KATZ, Bankruptcy Judge.

I

The question presented is whether a trustee in bankruptcy, as a judicial lien creditor pursuant to Bankruptcy Code § 544(a)(1), has standing to block the issuance of an order requiring a senior lienholder to marshal its collateral.

II

The debtors have three types of assets from which to satisfy claims of creditors: equipment, inventory, and accounts receivable. Heidelberg West, Inc. ("Heidelberg"), held the...

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