In the Matter of A-1 Paving and Contracting, Inc., Debtor. Appeal of the Peoples State Bank

KANNE, Circuit Judge.

A-l Paving and Contracting Inc. filed for Chapter 11 bankruptcy. Port Royal Aggregates Inc., claiming a security interest in specific equipment and vehicles of A-l, sought termination of the automatic stay order and asked for abandonment of those assets from the bankruptcy estate. Peoples State Bank, asserting a security interest in the same assets, intervened and objected to Port Royal’s request.

The bankruptcy court determined that Port Royal had a valid purchase money security interest in the assets in question. The court, therefore, terminated the automatic stay order…