In Re White

MEMORANDUM OF OPINION ON LIEN AVOIDANCE

JOHN C. AKARD, Bankruptcy Judge.

The Debtor, Kevin Wayne White, seeks to avoid the lien of the First National Bank of Haskell (Bank) on equipment repossessed but not sold at foreclosure sale prior to the Debtor’s bankruptcy. 1 The court finds that the lien should be avoided.

FACTS

The court adopts the following stipulations of the parties:

1. On May 31,1995, the Debtor borrowed $185,310 from the Bank as evidenced by Note No. 14910. On the same day, the Debtor borrowed $152,000 from the Bank as evidenced by Note No. 14911. The notes gave the bank a security…