First Bank, Upper Michigan v. North Country Bank & Trust (In Re Superior Used Cars, Inc.)

OPINION REGARDING CROSS-MOTIONS FOR SUMMARY JUDGMENT

JAMES D. GREGG, Chief Judge.

I. ISSUES

In its Fourth Amended Complaint, Plaintiff First Bank, Upper Michigan (“First Bank”) seeks four remedies:

1) A declaratory judgment that First Bank is the first-priority lienholder in Superior Used Car, Inc.’s (“Debtor”) prepetition personal property and all cash and noncash proceeds from the sale of these assets;

2) Creation of a constructive trust for all proceeds from the sales of the Debtor’s prepetition assets, which were received by Defendant North Country Bank & Trust (“North Country”) on or after…