In Re Quality Seafoods, Inc.

OPINION

JAMES F. QUEENAN, Jr., Bankruptcy Judge.

David M. Nickless (the “Trustee”), the Chapter 7 Trustee of Quality Seafoods, Inc. (the “Debtor”), has objected to the proof of claim filed by the Small Business Administration (the “SBA”). Presented is the question of whether, under § 9-403(2) of the U.C.C., a secured party who files a continuation statement five years and one day after the original financing statement was filed, and who thereafter timely files two additional continuation statements, retains its perfected status. For the reasons set forth below, I hold that such a secured party…