Transport Acceptance Corp. v. Crosby (In Re Crosby)

MEMORANDUM

CLIVE W. BARE, Bankruptcy Judge.

This adversary proceeding presents a priority conflict between a secured creditor who perfected a security interest in a truck titled in Oklahoma by noting its lien on a certificate of title and a secured creditor who took possession of the vehicle prior to such perfection.

I

Plaintiff, Transport Acceptance Corporation (hereafter “TAC”), and defendant, Interstate Contract Carriers Corp. (hereafter “ICC”), are secured creditors of defendant, Samuel C. Crosby (hereafter “debtor”). Defendant, Carrier Rentals, Inc. (hereafter “Carrier”), is a subsidiary of…