CLC of America, Inc. v. Lake Shore Equipment Distributors, Inc. (In Re Wisconsin Barge Line, Inc.)

MEMORANDUM OPINION

DAVID P. McDonald, Bankruptcy Judge.

INTRODUCTION

On November 7, 1986, CLC of America, Inc. (“CLC”) filed a Complaint seeking to subordinate the claim of Lake Shore Equipment Distributors, Inc. (“Lake Shore”) under Section 510(b) of the Bankruptcy Code. On January 12, 1987, Lake Shore filed an Answer showing there to be no genuine issue as to any material fact. The matter being ripe for summary judgment, each party so moved, whereupon the Court held a hearing on the opposing motions on February 27, 1987. Upon the pleadings and briefs of the parties, the argument of counsel,…