Third National Bank in Nashville v. Fischer (In Re Fischer)

Memorandum

GEORGE C. PAINE, II, Chief Judge.

I. Introduction

Third National Bank in Nashville (“TNB”) instituted the above captioned adversary proceeding against James M. Fischer, Jr. (“Debtor”) asking for a declaratory judgment that it possesses a perfected security interest in the proceeds from the sale of Debtor’s Standard Candy Company, Incorporated (“Standard”) stock. The Debtor filed a Motion for Summary Judgment asserting that, not only did TNB fail to perfect a security interest in the proceeds of the Standard stock, but that TNB never perfected an interest in the stock itself. A hearing…