Tennessee MacHinery Co. v. Appalachian Energy Industries, Inc. (In Re Appalachian Energy Industries, Inc.)

MEMORANDUM

KEITH M. LUNDIN, Bankruptcy Judge.

The issue presented by these cross-motions for summary judgment is the order of priority of two conflicting security interests in a forklift. For the reasons stated below, the court finds that the bank’s security interest in after-acquired property is superi- or to the unperfected purchase money security interest preserved by the trustee pursuant to 11 U.S.C.A. § 551 (West 1979).

The following constitute findings of fact and conclusions of law pursuant to Rule 752 of the Federal Rules of Bankruptcy Procedure.

The facts are not in dispute. On September…