PSINet, Inc. v. Cisco Systems Capital Corp. (In Re PSINet, Inc.)

DECISION ON CROSS-MOTIONS FOR SUMMARY JUDGMENT

ROBERT E. GERBER, Bankruptcy Judge.

Introduction

In this adversary proceeding — one of numerous “recharacterization” adversary proceedings brought by plaintiff, PSINet, Inc., one of the debtors in the above-captioned chapter 11 case (“PSINet,” or the “Debtor”), against its equipment lessors— PSINet seeks a declaratory judgment that a “Master Agreement” and related “Lease Schedules,” under which defendant Cisco Systems Capital Corporation (“Cisco”) provided networking equipment which is held and used by PSINet, are financing agreements that create a…