Nickless v. Reid (In Re Reid)

MEMORANDUM OF DECISION ON MOTIONS TO DISMISS ADVERSARY PROCEEDING

MELVIN S. HOFFMAN, Bankruptcy Judge.

This matter came before me on the Motion to Dismiss of Peoples’ United Bank f/k/a Flagship Bank and Trust Company (“Flagship”) [# 8] and the Motion to Dismiss of the Debtors, Jason and Megan Reid [# 9], and the Chapter 7 Trustee’s opposition thereto [# 20]. At issue is whether the complaint fails to state a claim upon which relief may be granted and, therefore, should be dismissed under Fed. R. Bank. P. 7012. The answer turns on whether Flagship has a continuing security interest in certain…