Waldschmidt v. Beneficial Canada, Inc. (In Re Toderian)

MEMORANDUM

GEORGE C. PAINE, II, Chief Judge.

I. INTRODUCTION

Before the court are cross motions for summary judgment by the bankruptcy trustee and the defendant. Based on the provisions of the Tennessee Code, this court grants the trustee’s motion for summary judgment and denies the defendant’s motion.

The following constitutes findings of fact and conclusions of law. Bankr.R. 7052.

II.FINDINGS OF FACT

The debtors own a 1985 Dodge Ram van, and while living in Canada, they borrowed money from Beneficial Canada, Inc. (BCI). It is undisputed that BCI perfected their security interest in the van under…