In Re Engle

MEMORANDUM OF DECISION

McGLYNN, District Judge.

I. INTRODUCTION

Both Meridian Bank (the “bank”) and the Trustee have appealed from an order of the bankruptcy court entered on May 20, 1987 in which the bankruptcy judge ruled that the bank was entitled, as a perfected secured creditor, to the proceeds of an auction of farm equipment and livestock in the above-captioned bankruptcy case. The bankruptcy judge denied the bank’s motion for turnover of funds which had been placed in an escrow account pursuant to a stipulation for adequate protection reached between the debtors and the bank during the…