Corporate Financers, Inc. v. Voyageur Trading Co.

OPINION

HARVEY A. HOLTAN, Judge * .

Corporate Financers, Inc. sued as assignee to enforce a security interest. A hearing was held on cross-motions for summary judgment, where the district court granted summary judgment against Corporate Financers and dismissed respondent Voyageur Trading Company. Corporate Financers appeals. We affirm in part and reverse in part.

FACTS

Respondent Voyageur Trading Co. (Voyage eur) is a distributor of wild riqe and pasta. In July 1991, respondent Fidelity Bank (Fidelity) established a $30,000 line of credit for Voyageur secured by Voyageur’s business assets.…