Associates Commercial Corp. v. Sel-O-Rak Corp.

MEMORANDUM OPINION REVERSING FINAL JUDGMENT

KEHOE, District Judge.

This appeal is taken from a final judgment of the Bankruptcy Court, entered after an adversary proceeding, and relegating the appellant to the status of a general unsecured creditor of the appellee. For the reasons expressed in this opinion, it is the determination of the Court that appellant had a duly perfected 1 security interest in the collateral belonging to the appellee, and was therefore entitled to enforce its security interest in the bankruptcy proceeding below for the amount of the indebtedness owed. Accordingly, the…