Appliance Buyers Credit Corp. v. Perrotto Refrigeration, Inc. (In Re Perrotto Refrigeration, Inc.)

MEMORANDUM OPINION

THOMAS M. TWARDOWSKI, Bankruptcy Judge.

In this adversary proceeding, which was brought by the plaintiff pursuant to Section 362(d) of the Bankruptcy Code, 11 U.S.C. § 362(d), the only disputed issue is which of two secured creditors has the priority security interest in the proceeds of the Chapter 11 debtor’s sale of certain of its inventory collateral. For the reasons hereinafter given, we find that the plaintiff has the priority security interest therein. Based upon this finding and based upon certain agreements between the plaintiff and the debtor contingent, in part, on…