Borock v. Michigan National Bank of Detroit (In re Piscitello)

MEMORANDUM OPINION

GEORGE BRODY, Chief Judge.

This is an action instituted by the trustee of Bart Lincoln Mercury to avoid a security interest of the Michigan National Bank in property of the estate of the debtor. The facts have been stipulated and are as follows:

1. Debtor Bart Lincoln Mercury, Inc. (“Bart Lincoln Mercury”) is a Michigan corporation, formerly having offices at 3400 East Jefferson Avenue, Detroit, Michigan.

2. From the inception of its operations in 1962, through the date of termination of its operations in early October, 1979, Bart Lincoln Mercury was a Lincoln-Mercury dealer,…