In Re Emarco, Inc.

MEMORANDUM AND ORDER

THOMAS C. GIBBONS, Bankruptcy Judge:

In this Chapter 11 proceeding, the debt- or, Emarco, Inc., challenges a claim filed by Northeastern Bank of Pennsylvania (creditor) as secured in the amount of $30,000.00. The underlying facts in this contested matter are not in serious dispute and after an evidentiary hearing, we make the following findings.

The basis of Northeastern Bank’s claim here is an assignment of a contract in the form of a purchase order, # 461, in the amount of $39,250.00 given to the debtor by B.F. Ziegler Company. Offered into evidence it indicated that it…