In Re Amereco Environmental Services, Inc.

MEMORANDUM OPINION

FRANK W. ROGER, Chief Judge.

Debtor was engaged in the handling, processing and disposal of hazardous wastes. Merchants Bank (hereinafter Bank) was the principal financial institution lending funds to debtor. The Bank attempted to secure its loans by taking a security interest from debtor and duly perfecting same. The wording in the Bank’s security agreement was as broad as possible and included general intangibles. The debtor and the Bank now disagree as to whether said blanket security interest extends to the hazardous waste operating permits which did allow the operation…