Coode v. M & J Financial Corp. (In Re Boling)

MEMORANDUM

CLIVE W. BARE, Bankruptcy Judge.

This adversary proceeding involves the respective rights of the parties in four trailers. Each trailer is the subject of a lease from defendant, M & J Financial Corporation (M & J) to the debtor, Charles Boling (Boling). The trustee contends that the leases are ones intended for security and that M & J failed to perfect a security interest. 1 M & J contends (1) that on the date of bankruptcy M & J owned the trailers subject to executory contracts with Bol-ing, and (2) that, even if Boling owned the trailers, M & J had perfected security interests…