Legal Opinion
In re Mason
United States Bankruptcy Court, E.D. North Carolina
Decided March 31, 2019No. CASE NO. 14-07105-5-DMWPublished
1Opinion of the Court
When the Debtor filed his bankruptcy petition, he owned a fifteen percent interest in Tier One Solar, LLC ("TOS"). On December 23, 2013, TOS borrowed the amount of $ 850,000.00 from Mutsy I, LLC ("Mutsy") pursuant to a Secured Convertible Promissory Note ("Note"). Mutsy is wholly owned and managed by Landress. On December 23, 2013, Mutsy advanced the amount of $ 820,000.002 to TOS.
*768In conjunction with the loan from Mutsy to TOS, the Debtor executed a Personal Guaranty3 and a Security Agreement, both dated December 23, 2013. The Security Agreement purported to grant to Mutsy a security interest…
2Cases cited10 opinions
- Anderson v. Liberty Lobby, Inc.Supreme Court of the United States · 1986
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- Edgar v. Mite Corp.Supreme Court of the United States · 1982
- In Re Merritt Dredging Company, Inc., Debtor. Compliance Marine, Inc. v. Kevin Campbell, Trustee--AppelleeCourt of Appeals for the Fourth Circuit · 1988
- Bluebird Corp. v. AubinCourt of Appeals of North Carolina · 2008
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