AICCO, Inc. v. Lisowski (In Re Silver State Helicopters, LLC)

MEMORANDUM DECISION ON PLAINTIFF’S MOTION FOR SUMMARY JUDGMENT

MIKE K. NAKAGAWA, Bankruptcy Judge.

Plaintiffs Motion for Summary Judgment was heard on December 11, 2008. The appearances of counsel were noted on the record.

BACKGROUND 1

AICCO, Inc. (“AICCO”) makes loans to businesses to enable them to purchase business insurance. This is known as insurance premium financing. Silver State Helicopters, LLC (“SSH” or “Debtor”) used insurance premium financing provided by AICCO to purchase insurance coverage to operate helicopter flight instruction schools. To memorialize the financing transactions,…