Home Savings Ass'n v. General Electric Credit Corp.

OPINION

This case involves the resolution of a priority interest dispute in the proceeds of the sale of twenty-one mobile home units. Respondent General Electric Credit Corporation (GECC) had seized the units as part of the inventory of Northern Nevada Mobile Home Brokers, Inc. (Northern Nevada) upon its discovery of Northern Nevada’s breach of its inventory financing agreement with GECC. In a declaratory relief action brought against appellant Home Savings Association (HSA), both GECC and HSA claimed priority in the units by virtue of their perfected security interests. The district court…