In Re Cambridge Biotech Corp.

OPINION

JAMES F. QUEENAN, Jr., Bankruptcy Judge.

Fleet Credit Corporation (the “Creditor”) moves for approval of its agreement with Cambridge Biotech Corporation (the “Debt- or”) granting it relief from the automatic stay with respect to bank accounts which the Debtor assigned to it as security for its loan obligation. The Official Unsecured Creditor’s Committee (the “Committee”) objects to the motion, asserting the Creditor has not perfected its security interest in the collateral. At issue is the proper method for perfecting a security interest in a bank account evidenced by a writing labeled…