Southtrust Bank of Alabama, National Association, Formerly Named Birmingham Trust National Bank v. Borg-Warner Acceptance Corp., a Corporation

TUTTLE, Senior Circuit Judge:

Borg-Warner Acceptance Corporation (“BWAC”) appeals from a decision of the district court denying its motion for summary judgment and granting summary judgment to Southtrust Bank (“the Bank”) in a diversity suit. The Bank filed a declaratory judgment action to ascertain which of the parties has priority in the inventory of four debtors, Molay Brothers Supply Company, Inc., Gulf City Distributors, Inc., Standard Wholesale Supply Company and Crest Refrigeration, Inc. 1 These debtors, which are no longer in existence, defaulted on obligations they owed to one or the…