In the Matter of California Pump & Manufacturing Co., Inc., Bankrupt. Jim L. Selby, 3-74-425 v. John M. England, Trustee

Jim Selby (the creditor) appeals the district court’s affirmance of a judgment of the bankruptcy court which held that an alleged security interest in certain tangible personal property of California Pump and Manufacturing Company (the bankrupt) is void as against the trustee in bankruptcy. We affirm.

Facts and Proceedings Below

The parties have stipulated to the following facts: Prior to bankruptcy, the creditor loaned $50,000 to the bankrupt. To secure repayment, the parties entered into a security agreement and filed a financing statement. The security agreement describes the collateral securing the loan as:

The financing statement contained a similar, though slightly different, description. The operating equipment of the bankrupt, however, was located at the bankrupt’s plant in Fresno, California and later in Hayward, California. It was never located at the South San Francisco address given in the security agreement and financing statement.

The property located in Fresno and Hayward is the subject of this appeal. Pursuant to a stipulation between the trustee and the creditor, the bankruptcy estate sold all the property of the bankrupt which had been located in Fresno and…