Canadian Exploration Corp. v. Cactus Energy Co. (In Re Cactus Energy Co.)

DECISION

RICHARD L. BOHANON, Bankruptcy Judge.

In this adversary proceeding plaintiff seeks a judgment declaring that its claim is secured. The trustee defends on the grounds that the lien which plaintiff claims to hold was not perfected properly under state law; and that, therefore, he may avoid it under 11 U.S.C. § 544(a)(3).

The issues have been joined by a Motion for Summary Judgment based upon stipulated facts.

The facts are similar to those we addressed in Kenan, Trustee v. Hilliard Oil & Gas, Inc., 38 B.R. 826 (Bankr.W.D.1984 Okla.). Plaintiff operates oil and gas leases in which the…