In Re Wl Homes, LLC

OPINION 1

BRENDAN LINEHAN SHANNON, Bankruptcy Judge.

Before the Court are cross-motions for summary judgment filed by Wachovia Bank, National Association (“Wachovia”), and George L. Miller, Chapter 7 Trustee for the Estate of WL Homes, LLC (the “Trustee”), respectfully. For the following reasons, the Court will grant the motion for summary judgment filed by Wachovia, and deny the motion for summary judgment filed by the Trustee.

I. INTRODUCTION

This adversary proceeding is about the ability of a parent company to grant a security interest in an asset of its subsidiary and the extent to which a…