Oszajca v. Sears (In Re Oszajca)

MEMORANDUM DECISION

FRANCIS G. CONRAD, Bankruptcy Judge.

The issue in these consolidated actions comes before us 1 upon cross-motions for summary judgment in the Oszajca v. Sears adversary proceeding. The debtors in the other two cases have asked that their fates be determined according to our resolution of the underlying issue in the Oszajca case— whether Sears’ lending and sales procedures render it secured under Vermont’s Retail Installment Sales Act (VRISA). 2 We hold that Sears is not entitled to take a security interest under VRISA and is, accordingly, unsecured. Due to factual…