Fleet Capital Corp. v. Sutherland Presses (In Re Enterprise Industries, Inc.)

ORDER ON CROSS MOTIONS FOR SUMMARY JUDGMENT

JAMES R. GRUBE, Bankruptcy Judge.

I. INTRODUCTION

Plaintiff Fleet . Capital Corporation (“Fleet”) and defendant Sutherland Presses (“Sutherland”) filed cross-motions for summary judgment in the above-entitled adversary proceeding, involving a priority dispute between the parties’ competing security interests in the debtor’s collateral. For reasons discussed below, the Court denies Sutherland’s motion for summary judgment and grants summary judgment in favor of Fleet.

II. BACKGROUND

On September 26, 1997, debtor Enterprise Industries, Inc. (“Enterprise”)…