H & I Pipe & Supply Co. v. First National Bank of Crossville (In Re H & I Pipe & Supply Co.)

MEMORANDUM

KEITH M. LUNDIN, Bankruptcy Judge.

The issue is whether the defendant’s security interest is limited to the equipment and machinery specified in the security agreement or whether it extends to inventory and accounts receivable only identified in the financing statement and other documents. This court holds that where there is an unambiguous security agreement that does not reference or incorporate the financing statement or other documents, the security interest is limited to the collateral specified in that security agreement.

The following constitute findings of fact and conclusions…