Intermet Corp. v. Financial Federal Credit, Inc.

Phipps, Judge.

Intermet Corporation appeals the trial court’s order granting summary judgment and a writ of possession in favor of Financial Federal Credit, Inc. in this secured transactions case pitting a bona fide purchaser (Intermet) of a machine against the holder of a security interest (FFCI). For reasons that follow, we affirm.

FFCI loaned money to Pittard Leasing Company to purchase a machine, and in return, Pittard Leasing gave FFCI a security interest in the machine. Pittard Leasing purchased the machine from a related corporate entity, Pittard Machine Company, which was the exclusive…