A. J. Bumb, Trustee in Bankruptcy of Dinsmore Equipment Company, a California Corporation, Bankrupt v. United States

Before us is an appeal from a judgment of the United States District Court affirming an order and decree of the referee in bankruptcy denying appellant’s petition for an order decreeing that certain chattel mortgages held by respondent were void as against the appellant.

The district court has jurisdiction to review the referee’s order under Title 11 U.S.C.A. § 67 , sub. c, and this Court has jurisdiction to review the district court judgment under Title 11 U.S.C.A. § 47 .

The facts in this case are relatively simple and not in dispute. Prior to bankruptcy Dinsmore Equipment Company, a corporation, was engaged in the business of retail selling and leasing of construction equipment at Los Angeles, California. On November 9, 1956 the corporation executed a promissory note dated November 8, 1956, in the principal sum of $10,000, payable to the Small Business Administration, an agency of the United States operating directly under the executive branch of the government, pursuant to the provisions contained in Title 15 U.S.C.A. §§ 631 to 645, inclusive. On November 9, 1956 a chattel mortgage dated November 8, 1956 was executed as security for said note and “all sums that may be…