United States v. Ps Hotel Corporation

The central issue raised in this appeal requires a determination of lien priority pursuant to either the Missouri Uniform Commercial Code or applicable principles of federal common law.

Former owners and managers of the Parkway House Airport Motor Hotel appeal from the district court’s 1 judgment enforcing a security interest of the Small Business Administration (SBA) in various assets of the motel. Essentially, the instant case is a dispute over rights to accounts receivable, valued at $24,707.28, and food and liquor inventory, valued at $3,000.00, of the Parkway Motel. The claimants are the…