Schley v. Peoples Bank (In re Schley)

RULING ON CROSS-MOTIONS FOR SUMMARY JUDGMENT

THAD J. COLLINS, CHIEF BANKRUPTCY JUDGE

These cross-motions for summary judgment came before the Court for a telephonic hearing. Nicole Hughes appeared for Peoples Bank (“the Bank”). Matthew Berger appeared for Watonwan Farm Service (‘Watonwan”). The Court heard arguments and gave the parties 14 days to file a statement of stipulated facts. The parties did so. This is a core proceeding under 28 U.S.C. § 167(b)(2)(E).

STATEMENT OF THE CASE

The Bank holds a perfected security interest in Debtors’ livestock proceeds. Wa-tonwan holds a superpriority…