Estate of Levis v. Blankinship-Cooper, Inc. (In Re Blankinship-Cooper, Inc.)

MEMORANDUM OPINION

ROBERT C. McGUIRE, Bankruptcy Judge.

This adversary action was commenced on April 13, 1984, by the Estate of A.R. Levis (“Levis”) as an action for declaratory judgment against InterFirst Bank Dallas (“In-terFirst”) and Blankinship-Cooper, Inc. (“Debtor”), to determine the effect of separate security agreements of the debtor with Levis and InterFirst which both purport to perfect liens in Shawne Bug, an American Quarter Horse Stallion.

The issue presented for determination in this case is the classification, under Chapter 9 of the Texas Business and Commerce Code (“Code”), of…