First Montgomery Bank v. Slocomb National Bank (In re BMR, Inc.)

OPINION ON COMPLAINT TO RECLAIM

RODNEY R. STEELE, Bankruptcy Judge.

THE CASE

The First Montgomery Bank (FMB) seeks in this proceeding to require the Slo-comb National Bank (SNB) to turn over to FMB certain inventory consisting of fans, lights and fireplace devices. Both banks claim a valid and perfected security interest in this inventory, which is located in a store on Ross Clark Circle in Dothan, Alabama.

Trustee makes no claim to the inventory. But the banks agreed to submit the question of priority to this court, and it was submitted as of June 18, 1985, after an evidentiary hearing, and the…