First National Bank of Geneva v. United States

ORDER

MOODY R. TIDWELL, III, Judge:

This dispute comes before the court on the parties’ cross-motions for summary judgement. Plaintiff claims that its perfected purchase money security interest in a government contractor’s special tooling is superior to defendant’s interest in the same property. Defendant asserts that it holds a title interest which vested and cut off any subsequent lien against defendant’s property including plaintiff’s interest, or in the alternative, an interest analogous to a purchase money security interest which is superior to plaintiff’s interest.

FACTS

The object of this…