Citizens Bank of Eldon v. Sportswear Shoppe, Ltd. (In Re Sportswear Shoppe, Ltd.)

ORDER ON COMPLAINT OF CITIZENS BANK OF ELDON

FRANK P. BARKER, Jr., Bankruptcy Judge.

The issue before the Court is whether the Plaintiff, Citizens Bank of Eldon, has a perfected security interest in the inventory and other collateral owned by Sportswear Shoppe, Ltd., debtor-in-possession herein, and whether that security interest is superi- or to that of the debtor-in-possession herein taking into account § 1107 of the Bankruptcy Code.

Plaintiff contends that it has a properly perfected security interest in the affected collateral and that, as a result, Plaintiff’s rights to the affected…