Federal Deposit Insurance Corp. v. Victory Lanes

MEMORANDUM OPINION AND ORDER

PAYNE, District Judge.

This appeal seeks review of a decision of the Bankruptcy Court striking two different claims of a secured creditor for the reasons that: (1) a UCC continuation statement was found to have been improperly filed because it identified the creditor in its corporate capacity, rather than in its capacity as receiver; and (2) a purported assignment was found to have extinguished an equipment lease. For the reasons set forth below, the decision of the Bankruptcy Court is reversed.

STATEMENT OF FACTS

Victory Lanes, a Virginia limited partnership which…