Coastal Bank v. Douglas Asphalt Co. (In re Galbreath Clearing & Grading, Inc.)

ORDER ON MOTION FOR SUMMARY JUDGMENT

LAMAR W. DAVIS, Jr., Bankruptcy Judge.

Coastal Bank sued the named Defendants in this case seeking a determination of the extent, validity, and priority of its floating lien in all the equipment of the Debtor corporation. Defendant, Case Credit Corporation (“Case”), filed a Motion for Summary Judgment seeking a determination that its purchase money security interest in certain collateral is superior to the competing general lien on equipment held by The Coastal Bank (“Coastal”) and any interest of the co-defendants. The parties stipulated numerous facts…